Peter Costello (Higgins, Liberal Party, Treasurer) Share this | Hansard source

The Dawson review recommended that the Trade Practices Act be amended to improve its operations, specifically in relation to the competition and authorisation provisions in the administration of the act. The bill improves existing ACCC and ART processes by providing for greater accountability, transparency and timeliness in decision making and reducing the regulatory burden on business.

The bill was debated in the Senate on 10 and 11 October 2005. The Senate amended the bill to remove schedule 1, to make a procedural amendment to schedule 3 and to omit the provisions in schedule 7. The government does not agree with the removal by the Senate of schedule 1. To address concerns that have been raised in relation to the bill, the government is now moving amendments to further enhance and clarify the processes to be undertaken by the ACCC and the tribunal in relation to mergers, clearances and authorisations.

Some of these amendments would have been moved in the Senate, in any event. Given the fact that the Senate omitted the schedule, they were never actually moved and placed in the schedule. But there are some new amendments that we have put to the House today to go into the schedule. These have been drawn after extensive consultation with small business organisations. They have been drawn in order to address matters that were raised in the Senate debate. As a result of these amendments, organisations such as COSBOA, the Fair Trading Coalition, NARGA and the National Farmers Federation have all said that they support the bill and they have urged the Senate to pass this bill with these amendments.

These amendments provide that the Australian Competition Tribunal must require the ACCC to provide it with a report on every application for merger authorisation. Further amendments specifically provide that the ACCC may call witnesses to appear before the tribunal, examine and cross-examine witnesses, report on statements of fact put before the tribunal and make submissions to the tribunal as determined by the ACCC.

The other matters, which would have been moved in the Senate had the Senate got around to it, apply to the general procedure of the tribunal to apply to merger authorisation applications, timely information to enable timely decision making, clarifying the process for the review of merger clearances, clarifying the default decision on merger clearances if a decision is not made within time and ensuring consistency of process and powers for all merger clearance processes.

This bill will significantly enhance the operation of the act, improve the rights of small business and improve transparency. It has the support of small business organisations. Not only should the House pass it but also I urge the Senate to pass this bill with these enhancements, particularly in relation to schedule 1.

See this speech in context