Competition regulator ACCC has warned companies it intends to crack down on businesses abusing their market power.
ACCC chairman Rod Sims said the Commission plans to actively pursue cases of misuse of market power and unconscionable conduct.
Sims said the Commission will explore using the unconscionable conduct provisions of the Australian Consumer Law to protect consumers in a broader range of circumstances.
“Although there is no clear definition of unconscionable conduct, conduct that goes beyond robust commercial dealings or shows no regard for what is right and reasonable falls squarely within the responsibility of the ACCC,” he said.
Sims made the comments in an address to the Law Institute of Victoria.
The regulator also wants to resolve unanswered questions about a section of the law dealing with misuse of market power for anti-competitive purposes.
“Recent amendments to the Act and likely future court actions are providing guidance on how to successfully prosecute companies that misuse their market power,” Sims said.
He said the ACCC will advocate for policy or legislative responses when it uncovers other elements of competition law which might require attention.