Mark Dreyfus (Isaacs, Australian Labor Party) Share this | Hansard source

I will start the sentence again. It is also worth remembering that the 1986 amendments were also focused on section 46 of the Trade Practices Act, the subject of this amending bill. The 1986 amendments deleted the requirement of control so that, instead of applying to corporations which were ‘in a position to substantially control a market’, the prohibition was to apply to corporations that have a ‘substantial degree of power in the market’. The House will note that the 1986 amendments, like this bill, were focused on ensuring that the Trade Practices Act is an effective deterrent to anticompetitive conduct.

The member for Kennedy asks rhetorically what principle Labor stands for, and I would have thought that this bill makes clear that in this area of economic regulation Labor stands for the principles of competition, of deterring anticompetitive conduct and of eliminating unfair trade practices like predatory pricing.

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