The Australian Competition and Consumer Commission today welcomed the release of the Productivity Commission's Final Report into Telecommunications Competition Regulation.
"The ACCC welcomes the PC's support for the retention of the telecommunications competition specific provisions of the Trade Practices Act 1974", ACCC Chairman, Professor Allan Fels, said today. "In particular, the ACCC welcomes the revised position of the Productivity Commission in its final report which now supports the retention of the provision of Part XIB which regulates the exercise of market power in the telecommunications industry.
"The ACCC welcomes the PC's recommendation on substantially increasing penalties for undue delay in providing information to the ACCC, under section 155 of the TPA.
"The ACCC is of the view that there is scope for improvement in the arbitration process and notes that a number of the PC's recommendations which involve speeding up the arbitrations process have already been acted upon by the Federal Government in the recent passage of the Trade Practices Amendment (Telecommunications) Bill 1974".