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Wednesday, 25 June 2003
Page: 12458


Senator HARRIS (11:45 AM) —Yes, Mr Temporary Chairman, it is the PW205 revised amendment that I wish to move. I seek leave to withdraw my previous amendment.

Leave granted.


Senator HARRIS —I move:

(1) Schedule 2, page 36 (after line 13), after item 5, insert:

5A After section 77

Insert:

77A This Part does not authorise anti-competitive conduct

Nothing in this Part is to be taken as specifically authorising any act or thing for the purposes of subsection 51(1) of the Trade Practices Act 1974.

Note 1: Section 50 of the Trade Practices Act 1974 prohibits acquisitions that would have the effect, or be likely to have the effect, of substantially lessening competition in a market. Subsection 51(1) of that Act provides that section 50 does not apply to anything authorised by an Act.

Note 2: The question of whether a cross-media acquisition contravenes section 50 of the Trade Practices Act 1974 involves identifying the relevant market or markets in which the acquisition would have the effect, or be likely to have the effect, of substantially lessening competition in any market no smaller than a local government area.

Note 3: The question of what is a relevant market is worked out under the Trade Practices Act 1974, and there is nothing in that Act that limits it to a market regulated by this Part.