Craig Emerson (Rankin, Australian Labor Party, Minister Assisting the Finance Minister on Deregulation) Share this | Hansard source

in reply—I thank members who have taken part in the debate today on the Competition and Consumer Legislation Amendment Bill 2010. I take this opportunity to reciprocate the comments of the member for Makin. He has displayed again in that speech that he has just given a deep understanding of the issues affecting competition in this country and the need to generate conditions where there is more competition, including, in particular, in grocery retailing. The member for Makin outlined a number of important measures that the Rudd government have taken in relation to foreign investment rules and the removal of restrictive covenants. We are also working in the area of planning and zoning laws to ensure that rivals to major supermarket chains in this country have the opportunity to compete head to head with those supermarket chains, because in our view competition is good and more competition is better for consumers.

It is in this context that we have developed this bill, the Competition and Consumer Legislation Amendment Bill 2010. The bill amends the mergers and acquisitions provisions of the Trade Practices Act 1974 to enable the Australian Competition and Consumer Commission to reject acquisitions that would substantially lessen competition in any local, regional or national market. The reforms remove the requirement that a market in which the competition effects of a merger are assessed must be a substantial market. The amendments will also ensure that the courts and the ACCC can consider the totality of the competitive effects resulting from an acquisition, including those where creeping acquisition concerns have been raised within the community.

The bill will also clarify the meaning of ‘unconscionable conduct’ by inserting interpretive principles into those acts to assist consumers, businesses, regulators and the courts. On 27 May 2010 the bill was referred to the Senate Economics Legislation Committee for inquiry and report. Public hearings were conducted and the committee reported on 15 June 2010. The government will consider the committee’s recommendations prior to debate in the Senate.

I thank all those who made contributions to the consultation process. I also thank my colleagues on the Ministerial Council on Consumer Affairs for their ongoing cooperation. I thank members of the expert panel, Professor Bryan Horrigan, Mr David Lieberman and Mr Ray Steinwall, for their hard work in developing recommendations for reform to the unconscionable conduct provisions of the Australian Consumer Law. I commend the bill to the House.

Question agreed to.

Bill read a second time.

Ordered that this bill be reported to the House without amendment.

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