This submission argues that, overall, while the Business Council of Australia appreciates and understands the government’s concern to ensure that our markets operate in a way that is open, transparent and effective, in practice we do not believe the approach taken or the legislation as presently drafted will necessarily enhance the functioning of markets or achieve these outcomes.
We do not believe that the legislation has achieved the appropriate balance, and we have a particular concern that the legislation could actually result in poor outcomes for consumers and act as an impediment on legitimate and pro-competitive commercial behaviour.
The submission covers:
- our understanding as to how the laws are intended to operate
- general comments in relation to the approach and the law as proposed
- some specific commentary about the particular provisions.