Jail terms of up to five years and hefty fines come onto the books, as the review into the country's Trade Practices Act 1974 is acted on
March 23, 2005 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
On 2 February, 2005, the Australian Government announced it will amend the Australian competition laws, contained in the Trade Practices Act 1974 (TPA), to introduce criminal sanctions for serious cartel conduct.
The proposal is not a surprise, as the introduction of criminal sanctions was recommended in a comprehensive review of the TPA conducted in 2003. It is anticipated the proposed criminal sanctions will come into effect sometime in the latter part of 2005.
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