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Schedule 5—Covenants affecting competition

Schedule 5 Covenants affecting competition

   

Competition and Consumer Act 2010

1  Subsection 4(1)

Insert:

contract includes a covenant.

party , to a contract that is a covenant, includes a person bound by, or entitled to the benefit of, the covenant.

2  Subsection 4(3)

Omit “, or to render a covenant,”.

3  Subsection 4(3)

Omit “or the covenant” (wherever occurring).

4  Paragraph 4F(1)(a)

Omit “, or a covenant or a proposed covenant,”.

5  Subparagraph 4F(1)(a)(i)

Omit “, or the covenant was required to be given or the proposed covenant is to be required to be given, as the case may be,”.

6  Subparagraph 6(2)(b)(i)

Omit “45B,”.

7  Paragraph 6(2)(e)

Repeal the paragraph.

8  Section 44ZZRQ

Repeal the section.

9  Subsection 45(5)

Repeal the subsection, substitute:

             (5)  This section does not apply to or in relation to a provision of a contract, arrangement or understanding or of a proposed contract, arrangement or understanding, or to or in relation to a concerted practice, in so far as the provision or practice relates to:

                     (a)  conduct that contravenes section 48; or

                     (b)  conduct that would contravene section 48 if subsection 48(2) did not apply; or

                     (c)  conduct that would contravene section 48 if it were not authorised under section 88; or

                     (d)  conduct that would contravene section 48 if this Act defined the acts constituting the practice of resale price maintenance by reference to the maximum price at which goods or services are to be sold or supplied or are to be advertised, displayed or offered for sale or supply.

10  Sections 45B and 45C

Repeal the sections.

11  Subsection 46A(6)

Omit “45B,”.

12  Paragraph 87(3)(a)

Repeal the paragraph, substitute:

                     (a)  a provision of a contract made, whether before or after the commencement of the Trade Practices Amendment Act 1977 , is unenforceable because of section 45 in so far as it confers rights or benefits or imposes duties or obligations on a corporation; or

13  Subsection 87(3)

Omit “or of a person who would, but for subsection 45B(1), be bound by, or entitled to the benefit of, the covenant, as the case may be”.

14  Paragraph 87(3)(c)

Omit “or covenant” (wherever occurring).

15  Paragraph 87(3)(d)

Omit “, or another person who would, but for subsection 45B(1), be bound by, or entitled to the benefit of, the covenant,”.

16  Paragraph 87(3)(d)

Omit “or person”.

17  Subsection 87(5)

Omit “or covenant” (wherever occurring).

18  Section 44ZZRQ of Schedule 1

Repeal the section.

19  Subsection 45(5) of Schedule 1

Repeal the subsection, substitute:

             (5)  This section does not apply to or in relation to a provision of a contract, arrangement or understanding or of a proposed contract, arrangement or understanding, or to or in relation to a concerted practice, in so far as the provision or practice relates to:

                     (a)  conduct that contravenes section 48; or

                     (b)  conduct that would contravene section 48 if subsection 48(2) did not apply; or

                     (c)  conduct that would contravene section 48 if it were not authorised under section 88; or

                     (d)  conduct that would contravene section 48 if this Act defined the acts constituting the practice of resale price maintenance by reference to the maximum price at which goods or services are to be sold or supplied or are to be advertised, displayed or offered for sale or supply.

20  Sections 45B and 45C of Schedule 1

Repeal the sections.