High Court and Privy Council decisions limit the effect of the Australian Industries Preservation Act 1906
The following milestones represent key aspects in the development and administration of competition and consumer law in Australia:
1906
Australian Industries Preservation Act 1906 becomes law – Australia’s first competition law
1909/13
1965
Trade Practices Act 1965 becomes law (and repeals the Australian Industries Preservation Act 1906). Commissioner of Trade Practices established
1974
Trade Practices Act 1974 becomes law. Trade Practices Commission (TPC) established.
1983
Prices Surveillance Authority (PSA) established
1986
Trade Practices (Transfer of Market Dominance) Amendment Act 1986 – lowers threshold test, regulates certain overseas mergers, prohibits unconscionable conduct and rewrites product safety provisions
1992
Trade Practices Legislation Amendment Act 1992 – narrows the competition test, increases penalties for unconscionable conduct and makes undertakings legally enforceable
International Consumer Protection and Enforcement Network (ICPEN) established – Australia one of its first members
1995
ACCC is established by merging the Trade Practices Commission (TPC) and Prices Surveillance Authority (PSA)
1996
National Competition Council (NCC) established. Trade Practices Tribunal renamed the Australian Competition Tribunal
Major reforms result in universal application of the competition principles of the Act across Australia
1998
Franchising Code of Conduct established
1999
A prices oversight regime is established under the Act to ensure there is no price exploitation with the introduction of the GST
2001
ACCC Infocentre established when the GST Price Help Line is absorbed into a general helpline
International Competition Network (ICN) established with the ACCC a founding member (one of 16 agencies)
2003
Australian Energy Regulator (AER) established – responsible for the regulation of distribution and retailing
2005
Tobacco companies required to fund a $9 million advertising campaign to raise awareness that low yield cigarettes may not be less harmful to a smoker's health than high yield cigarettes
2006
Australasian Consumer Fraud Taskforce established to increase awareness about consumer scams
SCAMwatch website launched
Oil Code and Horticulture Code of Conduct established
2007
Federal Court awards the highest penalties to date in a cartel case – $38 million – against Visy Industries Holdings
ACCC directed to monitor the prices, costs and profits of unleaded petrol in Australia
2009
Unit Pricing Code takes effect requiring grocery retailers to display a unit price to help consumers compare the price of products of different sizes
2011
The Australian Consumer Law begins in January and provides a single law for consumer protection in all state, territory and Commonwealth jurisdictions.
Trade Practices Act 1974 becomes the Competition and Consumer Act 2010
2013
Successful proceedings against various airlines for cartel conduct, with more than $98 million in penalties awarded - the highest ever cumulative penalties
2014
Competition and consumer law in Australia celebrates its 40th anniversary