Competition law and policy : cases and materials

This book evaluates Australian competition law including the economics and politics that lay at its heart. This fully revised second edition draws together a comprehensive collection of material providing an excellent and up-to-date guide to Australian competition law.

The increasing criminalization of economic law : a competition law perspective

Purpose – The purpose of this paper is to examine the trend towards the criminalization of hard core cartel conduct and to consider the appropriateness and effectiveness of extending the criminal law to this conduct. In addition, it will consider some of the legal implications, including the exposure of directors of companies to potential racketeering charges.
Design/methodology/approach – The paper first examines cartel theory and the justification for prohibition. The paper then identifies the emerging trend toward criminalization of hard core cartel conduct, followed by an assessment of potential justifications for criminalization. Implications of criminalization, including the potential impact of organized crime legislation on offenders and regulators, will then be considered.
Findings – There is a clear trend towards the criminalization of hard core cartels. The paper argues that this trend is appropriate, both because of the moral culpability it attracts and because of its potential to enhance general deterrence. The paper also argues that cartel conduct, in jurisdictions in which it is criminalized, will constitute “organized crime” as defined in the Palermo Convention and, as such, expose participants to potential money laundering and asset forfeiture consequences.
Originality/value – This paper is of value to governments and regulators considering adoption or implementation of a criminal cartel regime and to practitioners in advising clients about potential consequences of cartel conduct within a criminal regime.

Current issues in merger law

This collection of global perspectives will be of great interest to scholars and students of competition law, microeconomics, and regulatory studies.     This collection of global perspectives will be of great interest to scholars and students of competition law, microeconomics, and regulatory studies.
The globalization of markets, combined with the extraordinary expansion of merger control laws over the past two decades, has resulted in an increasing number of mergers inviting multiple regulatory responses. This has had a significant impact on the complexity, time and cost associated with transnational mergers and has highlighted the differences in law, policy and procedure employed by more than 70 jurisdictions now adopting targeted merger regimes. By contrast with other areas of competition law and policy, the treatment of mergers involves a significant regulatory component, with most jurisdictions adopting ex ante notification and suspension obligations for mergers exceeding defined thresholds. The justification for this lies in the structural change to the market affected by the merging of assets, personnel and intellectual property, which are difficult to reverse. However, ex ante regulation also has the consequence of subjecting the vast majority of benign or beneficial mergers to the cost and delay associated with administrative scrutiny. This cost and delay has the potential to jeopardize time-sensitive transactions or postpone expected efficiency gains. Where markets extend beyond domestic borders, these costs are multiplied and the slowest and most prescriptive jurisdiction will influence or determine the time at which the merger can close, if at all, and on what conditions.                 

Tip top result goes stale: ACCC-v- Australian Safeway Stores Pty Ltd(No 2)

Bread, its constituents, its methods of manufacture and its price and availability to consumers can claim to be the leitmotiv of competition law, both ancient and modern. The inelasticity of demand for such a staple food explains laws against monopolies being included in the eighteenth century BC Code of Hammurabi, why corn laws exercised the minds of the Gracchi brothers in second century B.C. Rome, and why ineffective regulation of the price of bread was seen as an important precipitator of revolutions in Europe in the eighteenth and nineteenth centuries. In the common law the early restraint of trade case, Mitchell v Reynolds saw a parish wide five year non-competition clause in a contract for the sale of a bakery upheld as reasonable. In the post-Shennan Anti-Trust Act (1890) United States, attempts by manufacturers of macaroni to change its constituents because of the prevailing high price of durm wheat were held in National Macaroni Manufacturers Association v FCT) to constitute price-fixing, an offence illegal per se under American anti-trust law.

The Dawson report and merger regulation

Discusses the Review of the Competition Law Provisions of the Trade Practices Act recommended by the Dawson Committee in Australia. Prohibition of mergers that lessens market competition by Trade Practices Act 1974; Requirement for a request of informal clearance; Establishment of an optional formal clearance procedure; Submission of merger authorization requests to the Australian Competition Tribunal.

Predatory pricing and the expectation of recoupment in Australia : Boral and the pathways forward

High Court decision, Boral v ACCC in which the Court overturned the decision of the Full Federal Court and held that Boral's strategy of below cost pricing did not contravene s 46 of the Trade Practices Act - suggestion that the test of recoupment be the central test with respect to predatory pricing cases.

Multi-jurisdictional merger review procedures - a better way

Corporate mergers whose effects transcend national borders have faced increasing regulation over the past few decades as more jurisdictions have developed merger laws and imposed pre-merger notification requirements. The level of regulatory response to multi-jurisdictional mergers is likely to continue to increase as even more jurisdictions contemplate the introduction of competition laws. This level of regulation now goes beyond that required to protect national economies from potentially harmful mergers and has seen burgeoning costs to business, regulators and, ultimately, the public. In recognition of this, the relatively newly formed International Competition Network has placed merger regulation at the forefront of its agenda for greater harmonisation and cooperation in competition law. This has seen, over the past three years, the development of a set of guiding principles and recommended practices for merger notification procedures designed to reduce the regulatory burden. This article evaluates these recommendations and discusses areas for further reform.

Proposed changes to merger regulation in Australia

The way in which mergers are evaluated in Australia is set to undergo significant change in the coming year. The Review of the Competition Law Provisions of the Trade Practices Act (the Dawson Review) was released by the Government in April.1 While recommending the retention of the current substantial lessening of competition test, the Dawson Committee made a number of recommendations for change regarding the procedures to be applied in assessing potential mergers. These recommendations have received the support of the federal Government. This paper will critically discuss the recommendations of the Committee in light of the submissions made to the Review and will also consider the possible amendments to the TPA that may flow.

IP in Asia

This presentation will start with a brief review of the first phase of this project, which focused largely on the impact on innovation of legal and institutional IP reforms in Asia triggered by the WTO Agreement on Trade Related Intellectual Property Rights (TRIPS) and by subsequent bilateral or multilateral Free Trade Agreements (FTAs). The presentation will then show the emerging issues relevant for the second phase of the project, which in an increasingly diversified IP landscape will lie at the intersection of IP with other disciplines and other areas of law, such as competition law, media law, criminal law, human rights, environmental law and constitutional law.

Australian law students' perceptions of their values: interim results in the first year--2001--of a three--year empirical assessment

This study attempts to answer an essential social policy question: what values are characteristic of the mass of Australian lawyers' in their last year of law school and their early careers, and how do these values develop or degrade over time? This question is important because of the concern felt in the community as to the activities of lawyers. In recent years the Australian legal profession has sustained more scrutiny by governments, regulators and consumer movements than in any previous period of our history. The perception that practitioners' competencies and ethics are deficient and materially linked both to reduced standards of performance and to higher levels of public complaints, has received attention from academics, law societies, parliamentary committees and the Australian Competition and Consumer Commission.

Software developer policies : economics and s 46 of the Competition and Consumer Act 2010

This article considers the impact of developer policies that hinder or restrict cross platform application development. We suggest that policies that hinder or restrict cross platform development have the potential to erode competition within the market for smartphones. The article also considers the relevance of dominance measures in software markets, arguing that conventional economic approaches may not be applicable. Furthermore, while most monitoring activities tend to focus primarily on protection of consumers, the article points out that modern electronic/information technology markets are multi-sided and there is a need for monitoring of practices designed to attract and retain the favour of developers. While the article is written in the context and application of the applicable Australian legislation, this being s 46 of the Competition and Consumer Act 2010 (Cth), our findings are equally relevant to other jurisdictions.