The Consumer and Competition Act requires businesses to compete fairly. Most Australian businesses honestly increase their customer base and profits by: Use these flashcards to memorize information. Look at the big map and try to remember what`s on the other side. Then click on the card to return it. If you know the answer, click the Knowledge green box. Otherwise, click the red Don`t know box. Cartels can be local, national or international. Established cartel members know they are doing the wrong thing and will go to great lengths to avoid getting caught. According to some estimates, during a cartel, the price of the products concerned increases by at least 10 %. Around the world, cartels steal billions of dollars every year. Get legal advice or contact the Competition Pro Bono Scheme if you think something your company is doing may break the law. The ACCC has broad powers to investigate cartels and can: Companies that enter into agreements with competitors to fix prices, manipulate supply, divide markets or restrict production break laws and rob consumers and businesses by raising prices, limiting choice and harming the economy.

Your company can be fined up to 10% of its worldwide turnover and ordered to sue for damages. All companies, regardless of size, need to understand how they are affected by competition law. Cartels are immoral and illegal because they not only deceive consumers and other businesses, but they also restrict healthy economic growth by: The Competition and Consumer Act not only prohibits cartels under civil law, but criminalizes the participation of businesses and individuals in a cartel. A cartel occurs when companies agree to act together instead of competing with each other. This agreement aims to increase the profits of the cartel members while maintaining the illusion of competition. You can report anti-competitive activity if you believe another company is breaking the law or if you have been involved yourself. Report cartel behavior anonymously Apply for immunity Apply the rules for all types of anti-competitive activities, including: If you are invited to an agreement that looks like a cartel, you should seek independent legal advice and notify the ACCC. Keep in mind that if you do not report suspicious activity to the ACCC, others may choose to break ranks and report your participation to us.

See: ACCC-PPDC Memorandum of Understanding on Serious Cartel Behaviour To see if you are familiar with the information, try the quiz or testing activity. You need to manage the risk of breaking the law, for example by having clear policies, policies and training for your employees. If you need a break, try one of the other activities listed under memory cards, such as Matching, Snowman, or Hungry Bug. Although you feel like you`re playing a game, your brain is always making more connections with the information to help you. Subscribers to the competition law newsletter will receive emails on competition law developments and antitrust enforcement actions, policy and policy information, helpful resources, events, investigations and other updates to help you stay informed. You can also move the cards with your keyboard as follows: You can be fined or jailed for up to 5 years if you are convicted of participating in cartel activities. If you are aware of cartel behaviour, you can report it to ACCC. If you are involved in a cartel, you can apply for immunity from prosecution in exchange for your assistance in our investigation. We also offer the possibility of anonymous reporting. As noted in the Letter of Intent, the ACCC is more likely to classify the conduct it is investigating as serious cartel conduct if one or more of the following factors are true: When you are logged into your account, this site remembers which cards you know and which you don`t, so that they will be in the same box the next time you log in. It is illegal for a company to compensate its senior executives for legal fees and fines. To register, please fill out our competition law newsletter form.

Companies struggling to compete fairly and make profits may be tempted to intentionally and secretly form a cartel or join a cartel with their competitors.