The BCA has consistently advocated a rigorous, evidence-based approach to regulatory reform, recognising the significant costs that excessive regulation can impose on the economy.
There has been considerable public analysis of so-called ‘creeping acquisitions’ over the last decade, including through a significant inquiry into the grocery sector by the ACCC.
Throughout this process, there has been no evidence identified of a systemic creeping acquisitions problem in the Australian economy.
The BCA does not consider that any amendments are required to the merger provisions of the competition laws.
The government’s final amendments, though unnecessary, are preferable to the options that have been proposed previously. However, the proposed amendments may have unintended consequences.
The Bill should therefore provide for review of the effect of the proposals after two years.