Consideration resumed from 18 September.

Senate’s amendments—

(1)    Schedule 2, page 5 (after line 5), after item 1, insert:

1A  After subsection 46(1)

Insert:

  (1AA)    A corporation that has a substantial share of a market must not supply, or offer to supply, goods or services for a sustained period at a price that is less than the relevant cost to the corporation of supplying such goods or services, for the purpose of:

             (a)    eliminating or substantially damaging a competitor of the corporation or of a body corporate that is related to the corporation in that or any other market; or

             (b)    preventing the entry of a person into that or any other market; or

             (c)    deterring or preventing a person from engaging in competitive conduct in that or any other market.

  (1AB)    For the purposes of subsection (1AA), without limiting the matters to which the Court may have regard for the purpose of determining whether a corporation has a substantial share of a market, the Court may have regard to the number and size of the competitors of the corporation in the market.

1B  Subsection 46(1A)

Omit “subsection (1)”, substitute “subsections (1) and (1AA)”.

1C  Paragraph 46(1A)(a)

Omit “paragraph (1)(a)”, substitute “paragraphs (1)(a) and (1AA)(a)”.

1D  Paragraph 46(1A)(b)

After “paragraphs (1)(b) and (c)”, insert “and (1AA)(b) and (c)”.

(2)    Schedule 2, page 7 (after line 26), after item 8, insert:

8A  Paragraph 151AJ(5)(c)

Omit “paragraph 46(1)(a)”, substitute “paragraphs 46(1)(a) and (1AA)(a)”.

(3)    Schedule 2, page 7 (after line 28), after item 9, insert:

9A  After subsection 46(1) of the Schedule

Insert:

  (1AA)    A person that has a substantial share of a market must not supply, or offer to supply, goods or services for a sustained period at a price that is less than the relevant cost to the person of supplying such goods or services, for the purpose of:

             (a)    eliminating or substantially damaging a competitor of the person or of a body corporate that is related to the person in that or any other market; or

             (b)    preventing the entry of a person into that or any other market; or

             (c)    deterring or preventing a person from engaging in competitive conduct in that or any other market.

  (1AB)    For the purposes of subsection (1AA), without limiting the matters to which the Court may have regard for the purpose of determining whether a person has a substantial share of a market, the Court may have regard to the number and size of the competitors of the person in the market.

9B  Subsection 46(1A) of the Schedule

Omit “subsection (1)”, substitute “subsections (1) and (1AA)”.

9C  Paragraph 46(1A)(a) of the Schedule

Omit “paragraph (1)(a)”, substitute “paragraphs (1)(a) and (1AA)(a)”.

9D  Paragraph 46(1A)(b) of the Schedule

After “paragraphs (1)(b) and (c)”, insert “and (1AA)(b) and (c)”.

See this item in context