Competition and Consumer Service Update: Various amendments added

This update adds various amendments including the Competition and Consumer Legislation Amendment Act 2011as follows:

The Competition and Consumer Amendment Act (No. 1) 2011 (No. 185 of 2011) (formerly the Trade Practices Act 1974) amends the Competition and Consumer Act 2010 generally.

The Competition and Consumer Legislation Amendment Act 2011 (No. 184 of 2011) amends the Competition and Consumer Act 2010 to clarify the operation of provision relating to mergers and acquisitions (s50). The amending Act also inserts a statement of interpretative principles into the unconscionable conduct provisions of the Australian Consumer Law  and the Australian Securities and Investments Act 2001.

The Clean Energy (Consequential Amendments) Act 2011 (No. 132/2011) amends various provisions of the consumer laws as part  of the Clean Energy Legislative Package, which sets up the carbon pricing mechanism part of the Government’s climate change plan.

The Carbon Credits (Consequential Amendments) Act 2011 (No. 102/2011) amends various provisions of the consumer laws as part the  Carbon Farming Initiative included in the Carbon Credits (Carbon Farming Initiative) Act 2011.

The Competition and Consumer Amendment Regulations 2011 (No. 3) (No. 271/2011) amend the Competition and Consumer Regulations 2010 to prescribe two new professional standards schemes.

The Competition and Consumer Amendment Regulations 2011 (No. 2) (No. 225/2011) amend the Competition and Consumer Regulations 2010 to relax the prohibition in s 86 of the ACL on supply of goods priced $500 or less during the 10 day cooling off period, to allow consumers to immediately take receipt of goods they have consented to buy.

The legislation and much more are included for subscribers in the Point-in-Time Competition and Consumer Service. If you are not already a subscriber to this Australian Legislation then please contact us to find out more or to take a free trial.