Competition and Consumer Act - Australia

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for the conduct, supply or acquire, or be likely to supply or acquire, goods or services; and

      (c) a reference to competition, in relation to conduct to which subsection (8) or (9) applies, shall be read as a reference to competition in any market in which the corporation engaging in the conduct or any other corporation the business dealings of which are restricted, limited or otherwise circumscribed by the conduct, or any body corporate related to either of those corporations, supplies or acquires, or is likely to supply or acquire, goods or services or would, but for the conduct, supply or acquire, or be likely to supply or acquire, goods or services.

      48 Resale price maintenance

      A corporation or other person shall not engage in the practice of resale price maintenance.

      49 Dual listed company arrangements that affect competition

      (1) A corporation must not:

      (a) make a dual listed company arrangement if a provision of the proposed arrangement has the purpose, or would have or be likely to have the effect, of substantially lessening competition; or

      (b) give effect to a provision of a dual listed company arrangement if that provision has the purpose, or has or is likely to have the effect, of substantially lessening competition.

      Note: Conduct that would otherwise contravene this section can be authorised under subsection 88(8B).

      Exception

      (2) The making by a corporation of a dual listed company arrangement that contains a provision that has the purpose, or would have or be likely to have the effect, of substantially lessening competition does not contravene this section if:

      (a) the arrangement is subject to a condition that the provision will not come into force unless and until the corporation is granted an authorisation to give effect to the provision; and

      (b) the corporation applies for the grant of such an authorisation within 14 days after the arrangement is made.

      However, this subsection does not permit the corporation to give effect to such a provision.

      Meaning of competition

      (3) For the purposes of this section, competition, in relation to a provision of a dual listed company arrangement or of a proposed dual listed company arrangement, means competition in any market in which:

      (a) a corporation that is a party to the arrangement or would be a party to the proposed arrangement; or

      (b) any body corporate related to such a corporation;

      supplies or acquires, or is likely to supply or acquire, goods or services or would, apart from the provision, supply or acquire, or be likely to supply or acquire, goods or services.

      (4) For the purposes of the application of this section in relation to a particular corporation, a provision of a dual listed company arrangement or of a proposed dual listed company arrangement is taken to have, or to be likely to have, the effect of substantially lessening competition if that provision and any one or more of the following provisions:

      (a) the other provisions of that arrangement or proposed arrangement;

      (b) the provisions of any other contract, arrangement or understanding or proposed contract, arrangement or understanding to which the corporation or a body corporate related to the corporation is or would be a party;

      together have or are likely to have that effect.

      50 Prohibition of acquisitions that would result in a substantial lessening of competition

      (1) A corporation must not directly or indirectly:

      (a) acquire shares in the capital of a body corporate; or

      (b) acquire any assets of a person;

      if the acquisition would have the effect, or be likely to have the effect, of substantially lessening competition in a market.

      Note: The corporation will not be prevented from making the acquisition if the corporation is granted a clearance or an authorisation for the acquisition under Division 3 of Part VII: see subsections 95AC(2) and 95AT(2).

      (2) A person must not directly or indirectly:

      (a) acquire shares in the capital of a corporation; or

      (b) acquire any assets of a corporation;

      if the acquisition would have the effect, or be likely to have the effect, of substantially lessening competition in a market.

      Note: The person will not be prevented from making the acquisition if the person is granted a clearance or an authorisation for the acquisition under Division 3 of Part VII: see subsections 95AC(2) and 95AT(2).

      (3) Without limiting the matters that may be taken into account for the purposes of subsections (1) and (2) in determining whether the acquisition would have the effect, or be likely to have the effect, of substantially lessening competition in a market, the following matters must be taken into account:

      (a) the actual and potential level of import competition in the market;

      (b) the height of barriers to entry to the market;

      (c) the level of concentration in the market;

      (d) the degree of countervailing power in the market;

      (e) the likelihood that the acquisition would result in the acquirer being able to significantly and sustainably increase prices or profit margins;

      (f) the extent to which substitutes are available in the market or are likely to be available in the market;

      (g) the dynamic characteristics of the market, including growth, innovation and product differentiation;

      (h) the likelihood that the acquisition would result in the removal from the market of a vigorous and effective competitor;

      (i) the nature and extent of vertical integration in the market.

      (4) Where:

      (a) a person has entered into a contract to acquire shares in the capital of a body corporate or assets of a person;

      (b) the contract is subject to a condition that the provisions of the contract relating to the acquisition will not come into force unless and until the person has been granted a clearance or an authorization to acquire the shares or assets; and

      (c) the person applied for the grant of such a clearance or an authorization before the expiration of 14 days after the contract was entered into;

      the acquisition of the shares or assets shall not be regarded for the purposes of this Act as having taken place in pursuance of the contract before:

      (d) the application for the clearance or authorization is disposed of; or

      (e) the contract ceases to be subject to the condition;

      whichever first happens.

      (5) For the purposes of subsection (4), an application for a clearance shall be taken to be disposed of:

      (a) in a case to which paragraph (b) of this subsection does not apply — at the expiration of 14 days after the period in which an application may be made to the Tribunal for a review of the determination by the Commission of the application for the clearance; or

      (b) if an application is made to the Tribunal for a review of the determination by the Commission of the application for the clearance — at the expiration of 14 days after the date of the making by the Tribunal of a determination on the review.

      (5A) For the purposes of subsection (4), an application for an authorisation is taken to be disposed of 14 days after the day the Tribunal makes a determination on the application.

      (6) In this section:

      market means a substantial market for goods or services in:

      (a)

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