SYDNEY, 23 July 2009 - LexisNexis Australia, a leading provider of content-enabled workflow solutions, today announced that LexisNexis Professional Development will host a Half-Day Intensive on cartel conduct. The event, the third in a successful series, will take place in Brisbane on 23 October 2009, and will explore the passing of the Trade Practices Amendment (Cartel Conduct and Other Measures) Bill 2008.
Legal practitioners and commentators can attend to discuss the complex legislative changes, as well as Australian Competition and Consumer Commission (ACCC) investigations and enforcement, and the role of Commonwealth Director of Public Prosecutions (CDPP) in the prosecution of cartel offences.
The main legislative change the Act makes is that company directors and staff involved in cartel conduct can now receive a jail sentence. The amendments will force many companies and their law firms to look more closely at commercial arrangements between competitors, especially those involving joint ventures, alliances, joint bidding, joint R&D, and supply agreements. All industries are affected by the new legislation.
Under the new legislation, individuals face the risk of criminal liability with a maximum fine of up $220,000, a jail term of up to 10 years, and disqualification from managing a company. Law firms will need to get up to speed quickly on the legislative changes and fully understand the potential impact they will have on their clients.
The risk of cartel conduct being detected will also increase. First, the threat of criminal prosecution will encourage more whistleblowers to go to the ACCC to take advantage of the joint ACCC and the CDPP immunity policy. Co-operation between anti-cartel enforcement agencies around the world has been recently increased, while the new legislation also creates a telephone-tapping power. It’s also notable that class actions for damages are on the rise.
Mr Brent Fisse, Lawyer & Senior Fellow at Melbourne Law School, believes that the new legislation “has many nasty surprises for the unwary. Existing as well as future business arrangements between competitors need to be checked to keep a lid on criminal or civil liability.” Mr Fisse will discuss joint venture exceptions, as well as other exceptions and defences to cartel offences, at the upcoming LexisNexis Half-Day Intensive.
LexisNexis Professional Development is a leading national provider of continuing legal education. “We pride ourselves on the delivery of information as it happens including amendments to legislation that have a major impact on the practise of law,” said TJ Viljoen, CEO of LexisNexis Australia.
For more event information please visit www.lexisnexis.com.au/pd
About LexisNexis
LexisNexis® (www.lexisnexis.com) is a leading global provider of content-enabled workflow solutions designed specifically for professionals in the legal, risk management, corporate, government, law enforcement, accounting and academic markets. LexisNexis originally pioneered online information with its Lexis® and Nexis® services. A member of Reed Elsevier [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), LexisNexis serves customers in more than 100 countries with 18,000 employees worldwide.
LexisNexis® Australia (www.lexisnexis.com.au) is the leading provider of Australian and international news, business, tax and legal information, using leading-edge technology, tools, and online solutions.
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Marc K. Peter
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