By Elizabeth Avery, Matt Rubinstein and Nicole Lojszczyk
The Harper Review’s draft report (Draft Report) considers that the price signalling provisions set out in Division 1A of the Competition and Consumer Act 2010 (CCA), which currently apply only to the banking sector are not “fit for purpose” and should be repealed. In their place, the Draft Report recommends that the general prohibition on anticompetitive agreements in section 45 of the CCA should be extended to cover “concerted practices” which have the purpose, or have or would be likely to have the effect, of substantially lessening competition.