In the media
Farmers urged to back 'effects
test'
Farm stakeholders are being urged to have their say on the federal
government's moves to adopt an 'effects test' to deal
with market power abuse in retail supply chains. ADF President
Simone Jolliffe said the industry would continue to advocate for
the regulating bodies to have the power to prevent predatory
pricing in future (27 January 2016).
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Australia falls to 13th place in global corruption
ranking
Australia has dropped to 13th from 11th place, falling behind
Germany and Britain, in a closely watched index of global
corruption. Western Europe's relentless stream of banking
scandals continued in 2015, as Deutsche Bank paid the largest Libor
fine in history in a market-rigging scandal," Transparency
said. "More proof that the financial sector -- banking in
particular - - is in dire need of reform." (27 January 2016).
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Tennis match-fixing scandal: review to look at betting
companies sponsoring major events
Authorities say it is a question for the independent review into
tennis's anti-corruption unit over whether it is appropriate
that betting companies sponsor major tennis events (27 January
2016).
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Exetel compensates consumers following ACCC
investigation
The ACCC considered that the clause was an unfair contract term
which was likely to contravene the Australian Consumer Law (ACL).
The ACCC also considered that Exetel's advertising of these
fixed term plans was likely to be misleading because it represented
that consumers would receive the service for the 12-month fixed
term, when this was not necessarily the case (18 January 2016).
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Kogan pays $32,400 penalty for alleged false or
misleading representations in a Father's Day
promotion
The ACCC issued the infringement notices because it had reasonable
grounds to believe that Kogan had made false or misleading
representations about the price of three computer monitors
advertised by Kogan during a Fathers' Day promotion on its eBay
store, in contravention of the Australian Consumer Law (18 January
2016).
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In practice and courts, published reports
Options to strengthen the misuse of market power law:
Discussion Paper
The purpose of this discussion paper is to seek the views of
interested parties on options to strengthen the misuse of market
power provision (section 46) of the Competition and Consumer
Act 2010 (CCA). Submissions on this discussion paper close on
12 February 2016.
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Cases
North East Solution Pty Ltd v Masters Home
Improvement Australia Pty Ltd [2016] VSC 1
CONTRACT – Good faith – Enforceability of agreement to
negotiate in good faith – Breach of obligation to act
reasonably and in good faith – Relationship between
obligation to act "reasonably" and obligation to act
"in good faith" – Burger King Corporation v
Hungry Jack's Pty Ltd [2001] NSWCA 187; (2001) 69 NSWLR
558 – Construction of commercial contracts – Terms
implied in order to give business efficacy to agreement –
Incorporation of terms of earlier agreement into subsequent
agreement – Different named parties in subsequent agreement.
DAMAGES – Quantification of loss and damage – Lost
opportunity to develop and lease land – Date at which damages
are assessed – Capitalisation of Income method of valuation
not the most appropriate method of estimating loss and damage
– Discounted Cash Flow method of valuation – Sellars
discount – Sellars v Adelaide Petroleum NL [1994]
HCA 4; (1994) 179 CLR 332. More...
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