<
https://theconversation.com/its-time-to-give-australian-courts-the-power-to-break-up-big-firms-that-behave-badly-226726>
"Australian authorities have never had the power to break up big businesses
that behave badly.
It’s a power available to courts in the United States and elsewhere, but not
here – at least not unless the Greens succeed with a bill now before the
Senate.
The so-called
Competition and Consumer Amendment (Divestiture Powers) Bill
would enable courts to break up firms that misuse their substantial market
power under section 46 of the
Competition and Consumer Act.
The Coalition is reported to be examining the same sort of thing, with the
breakup powers limited to supermarket chains that abuse their market power.
Section 46 prohibits firms with a substantial degree of power in a market from
engaging in conduct that has the purpose, effect, or likely effect of
substantially lessening competition in that market.
The new power proposed by the Greens would enable courts to direct corporations
that contravene Section 46 to sell assets or do whatever else was necessary to
reduce their power within a period of two years.
I recommended such a power earlier this year in my report to the Australian
Council of Trade Unions on price gouging and unfair pricing practices.
Australia’s approach to such powers has always been unbalanced."
Via Muse, who wrote "BAM! Let’s put this bill over the line!"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
