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Wednesday, 14 August 1974
Page: 913

Senator MURPHY (New South WalesAttorneyGeneral) - This amendment stands on the same footing as the other provision. We cannot see any great harm in it. We think that the clause as it stands is all right, but to save unnecessary differences of opinion we are prepared to accept the amendment.

Amendment agreed to.

Clause, as amended, agreed to.

Clauses 41 to 44- by leave- take together, and agreed to.

Clause 45.

(   1 ) A contract in restraint of trade of commerce that was made before the commencement of this sub-section is unenforceable in so far as it confers rights or benefits or imposes duties or obligations on a corporation.

(   2 ) A corporation shall not-

(a)   make a contract or arrangement, or enter into an understanding, in restraint of trade or commerce; or

(b)   give effect to a contract, arrangement or understanding that is in restraint of trade or commerce, whether the contract or arrangement was made or the understanding was entered into before or after the commencement of this sub-section.

(   3 ) A contract, arrangement or understanding is not in restraint of trade or commerce for the purposes of this Act if the restraint has such a slight effect on competition between the parties to the contract, arrangement or understanding and on competition between those parties, or any of them, and other persons as to be insignificant.

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