The Government intends to recommend to the Governor-General that Greg Medcraft be appointed Chairman of the Australian Securities and Investments Commission (ASIC). The Government has also nominated Rod Sims to become the next Chairman of the Australian Competition and Consumer Commission (ACCC).

A joint press conference was held in Canberra yesterday evening to announce these changes.

The transcript of the press conference is available on the Official Treasury Website.

In some circumstances, the Australian Competition and Consumer Commission may grant immunity from legal action for anti-competitive conduct. Immunity may be granted under the authorisation and notification provisions of the Act where “the public benefit from the anti-competitive conduct outweighs any public detriment”.

Conduct cannot be authorised retrospectively.

The ACCC has released a summary for businesses and legal practitioners regarding how to apply for an “authorisation” or a “notification”. A complete copy is available in pdf on the ACCC site.

The summary sets out:

• Who can apply
• How to apply for an authorisation
  • Conduct to which an authorisation may relate (eg conduct which would otherwise constitute resale price maintenance, a secondary boycott, or a cartel provision)
  • Relevant fees and procedure for application
• How to lodge a notification
  • Conduct which may come within the scope of a notification (third line forcing conduct, other exclusive dealing conduct, collective bargaining)
  • Relevant fees and procedure for lodgement
• Application for review.

The process is set out in further detail in the ACCC publications Guide to authorisation, Guide to exclusive dealing notifications and Guide to collective bargaining notifications.