By Caron Beaton-Wells
Cartel law is a first-rate section of pageant coverage and a necessary technique of minimising the antagonistic results of cartel job on fiscal welfare. notwithstanding, potent cartel law poses designated demanding situations for governments, festival professionals and commentators around the globe. In Australian Cartel law, major festival legislations specialists Caron Beaton-Wells and Brent Fisse contemplate advancements in anti-cartel legislation in Australia over the past 30 years. they supply a entire account of the present legislation on cartels in addition to discussing key concerns which may come up sooner or later. This definitive quantity not just identifies the sensible and theoretical concerns, but in addition recommends achievable strategies, and does so with the advantage of comparative research of the anti-cartel legislation of significant abroad jurisdictions. a number of the concerns pointed out and mentioned in Australian Cartel rules are universal to any scheme designed to control cartel behavior.
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26 However, a federal election intervened and the Bill lapsed. 27 These penalties were imposed in an enforcement action against Visy Ltd, one of Australia’s largest manufacturing companies, and Australia’s fourth richest man, Visy Chairman, Richard Pratt. 34 23 P Costello, Treasurer, ‘Criminal Penalties for Serious Cartel Behaviour’, Press Release No. 4 of 2005, 2 February 2005. 24 The terms of the proposed offence were to ‘prohibit a person from making or giving effect to a contract, arrangement or understanding between competitors that contains a provision to ﬁx prices, restrict output, divide markets or rig bids, where the contract, arrangement or understanding is made or given effect to with the intention of dishonestly obtaining a gain from the customers who fall victim to the cartel’.
It does so with the beneﬁt of comparative analysis with overseas regimes particularly, but not conﬁned to, the US and EU. Many of the issues identiﬁed in the book are common to any scheme designed to regulate cartel conduct. 4 For a country considering how to accommodate a criminal cartel regime within its existing legislative framework and enforcement institutions, no off-the-shelf ‘model’ is 2 The new jurisdiction is conferred by the Federal Court of Australia Amendment (Criminal Jurisdiction) Act 2008 (Cth).
15, 2008, p. 255. 13 14 AUSTRALIAN CARTEL REGULATION The Schedule version of Pt IV is identical to Pt IV except that it applies to persons rather than corporations. 20 Consistent with the 1995 Agreement, the CC&OM Act provided for the Div 1 cartel offences and civil prohibitions to apply to corporations and ‘persons’. This occurs in the following ways: Corporations can be found guilty of committing an offence or breaching a civil ● prohibition contained in Div 1 of Pt IV. Individuals and bodies corporate can be held liable for committing a ‘mirror’ ● offence or breaching a civil prohibition in the Schedule of the TPA.
Australian Cartel Regulation: Law, Policy and Practice in an International Context by Caron Beaton-Wells