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ACCC Revises Approach to Mergers.On 21 November 2008 the ACCC published its revised Merger Guidelines. This is the most significant amendment to the Guidelines since they were first published in 1999. While merger notification remains voluntary, the ACCC has abandoned its former two ‘safe harbours’ of the merged entity having less than 40% market share or (if the four largest market participants have 75% or greater market share) less than a 15% market share... |
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Criminalisation of Cartel Conduct.On 3 December 2008 the Trade Practices Amendment (Cartel Conduct and Other Measures) Bill 2008 was introduced to the House of Representatives. On 4 December 2008 the Senate referred the Bill to the Senate Standing Committee on Economics for report by 20 February 2009. It is however likely the Bill, or a variation on the Bill, will become law by the middle of this year... |
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New Zealand Commerce Commission (NZCC) Revises
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Government Reviews the Meaning of “understanding”The ACCC has proposed amendments to the Trade Practices Act to broaden and clarify the meaning of the term “Understanding’ as it is used in the TPA... |
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Golden Handshake in the Spotlight.The issue of remuneration for directors and executives and in particular termination payments to departing executives has received a great deal of attention, both in Australia and overseas, in recent times. The recent turmoil in world economies and some spectacular corporate collapses mean that the focus on perceived excessive payments is likely to intensify... |
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Price Fixing Case Drags On.The ACCC instituted proceedings against the ANZ Bank in 2007 alleging that, by capping the maximum discounts mortgage brokers can offer on ANZ home loans, it was engaging in illegal price fixing. The Trade Practices Act 1974 strictly prohibits arrangements between persons that ‘fix, maintain or control’ prices of the goods or services they sell in competition with each other... |
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A New Holm!
Paul and Megan welcomed their beautiful baby girl, Ava Gail Mary Holm, on 26 January 2009 at The Mater Hospital. Congratulations !
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Please note that this newsletter is for general information purposes only. We make no representations or warranties with respect to its accuracy. It may contain summaries of the law which may not be complete or comprehensive. It is not adapted to any person's particular circumstances and should not be used as a substitute for specific legal or other professional advice. Before acting on any information contained in this newsletter, appropriate advice should be obtained from a practitioner qualified to provide such advice in your jurisdiction. |