Competition and Consumer Act 2010 - Monitoring of the Prices, Costs and Profits Relating to the Supply of Unleaded Petroleum Products in the Petroleum Industry in Australia (09/12/2014)

This Act has been repealed and is no longer in force. It is retained for historical reference.

What this does: This is a ministerial direction that tells the Australian Competition and Consumer Commission (ACCC) — the national competition watchdog — to keep tabs on the petrol industry.

Specifically:

What gets monitored: Prices, costs, and profits for unleaded petrol products sold in Australia
Who does the monitoring: The ACCC
How long: Three years, starting from 17 December 2014
Reporting: The ACCC must report back to the Minister every three months

Why it matters: This gives the government eyes on the fuel market to check if prices are fair, costs are reasonable, and profits aren't excessive. It helps ensure petrol companies aren't taking advantage of consumers, and provides transparency about what drives prices at the bowser.

AustGovt_crest

Commonwealth of Australia

COMPETITION AND CONSUMER ACT 2010

MONITORING OF THE PRICES, COSTS AND PROFITS RELATING TO THE SUPPLY OF UNLEADED PETROLEUM PRODUCTS IN THE PETROLEUM INDUSTRY IN AUSTRALIA

I, Bruce Billson, Minister for Small Business, pursuant to section 95ZE of the Competition and Consumer Act 2010, hereby direct:

the Australian Competition and Consumer Commission (ACCC) to monitor the prices, costs and profits relating to the supply of unleaded petroleum products in the petroleum industry in Australia for three years, effective from 17 December 2014; and
the ACCC to report to me on its monitoring activities in paragraph (1) at least quarterly from 17 December 2014.
The Direction commences the day after registration.

DATED THIS 9th DAY OF DECEMBER 2014

Bruce Billson

MINISTER FOR SMALL BUSINESS

1 Competition and Consumer Act 2010 - Monitoring of the Prices, Costs and Profits Relating to the Supply of Unleaded Petroleum Products in the Petroleum Industry in Australia (09/12/2014)

Commonwealth of Australia

COMPETITION AND CONSUMER ACT 2010

MONITORING OF THE PRICES, COSTS AND PROFITS RELATING TO THE SUPPLY OF UNLEADED PETROLEUM PRODUCTS IN THE PETROLEUM INDUSTRY IN AUSTRALIA

I, Bruce Billson, Minister for Small Business, pursuant to section 95ZE of the Competition and Consumer Act 2010, hereby direct:

the Australian Competition and Consumer Commission (ACCC) to monitor the prices, costs and profits relating to the supply of unleaded petroleum products in the petroleum industry in Australia for three years, effective from 17 December 2014; and
the ACCC to report to me on its monitoring activities in paragraph (1) at least quarterly from 17 December 2014.
The Direction commences the day after registration.

DATED THIS 9th DAY OF DECEMBER 2014

Bruce Billson

MINISTER FOR SMALL BUSINESS

Competition and Consumer Act 2010 - Monitoring of the Prices, Costs and Profits Relating to the Supply of Unleaded Petroleum Products in the Petroleum Industry in Australia (09/12/2014)

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Competition and Consumer Act 2010 - Monitoring of the Prices, Costs and Profits Relating to the Supply of Unleaded Petroleum Products in the Petroleum Industry in Australia (09/12/2014)

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1 Competition and Consumer Act 2010 - Monitoring of the Prices, Costs and Profits Relating to the Supply of Unleaded Petroleum Products in the Petroleum Industry in Australia (09/12/2014)