With no warning the Harper Reforms have commenced.
Graduation is proclaimed!
Final Thursday the Governor Common proclaimed that at present (6 November 2017) was the day that Schedule 1 of the Competitors and Shopper Modification (Competitors Coverage Reform) Act 2017 would start. Graduation of that Schedule triggers graduation of all of the others in addition to graduation of the misuse of market energy reforms within the Competitors and Shopper Modification (Misuse of Market Energy) Act 2017.
Silence is golden …?
The Harper evaluate course of commenced in 2014 and there’s been numerous political level scoring alongside the best way and loads of fanfare surrounding the passage of the reforms. However in the case of the graduation of the provisions … silence. No authorities announcement. No ACCC media launch. Simply an eerie nothingness. Given the importance of the reforms, that is troubling. Hope no one submitted the improper authorisation kind at present …
Why the shock?
The default graduation date was 28 April 2017 … except an earlier date was proclaimed. Following passage of the principal Harper invoice on 18 October the ACCC reported that the Harper reforms had been scheduled to ‘come into impact within the coming weeks’ (ACCC welcomes new period in competitors regulation), suggesting an earlier date is perhaps proclaimed. Nonetheless, I feel it’s honest to say almost everybody learn that to imply one thing past a fortnight … Even the gazette containing discover that the Act (that has now commenced) has obtained Royal Assent has not but been revealed (I’ve been checking … on daily basis …). That Royal Assent was given on 27 October 2017 can solely be discerned from viewing the official Act.
There are additionally at present two interim pointers out for evaluate on the brand new misuse of market energy provision, the new concerted practices legal guidelines, and new merger and non-merger authorisation guides and types. Session on all of those closes 24 November 2017; we’d have anticipated finalisation of this course of earlier than the brand new legal guidelines commenced.
All related provisions have now commenced. I wont revisit the adjustments – I coated these in my earlier weblog. I’m progressively updating my web site with the adjustments, however have mercy – I believed I had far more time to do that!
As an apart … joyful birthday ACCC
By the way, at present was additionally they day that the ACCC commenced, 22 years in the past (changing the Commerce Practices Fee as a part of the Hilmer reforms).