Commonwealth legislation

Trade Practices Act 1974 - Direction No. 32 - Monitoring of the prices of unleaded petroleum products

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

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A Ministerial Direction requires the ACCC to monitor prices, costs and profits of unleaded petrol in Australia for three years from 17 December 2007 and deliver annual reports by 17 December each year. It compels ACCC scrutiny of petroleum suppliers’ pricing (benefitting consumers through greater transparency) and is made under section 95ZE of the Trade Practices Act 1974 to detect anti‑competitive conduct or unjustified price increases.

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Trade Practices Act 1974 - Direction No. 32 - Monitoring of the prices of unleaded petroleum products

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Commonwealth of Australia

Trade Practices Act 1974

MONITORING OF THE PRICES OF UNLEADED PETROLEUM PRODUCTS

I, CHRIS BOWEN, Minister for Competition Policy and Consumer Affairs, pursuant to section 95ZE of the Trade Practice Act 1974, hereby direct:

(1) the Australian Competition and Consumer Commission (‘the Commission’) to monitor prices, costs and profits relating to the supply of unleaded petroleum products in the petroleum industry.

(2) the Commission to report to me on its monitoring activities in paragraph (1) for a period of three years commencing from the date of this direction.

(3) the reports of the Commission to be provided annually, no later than the anniversary of the date of this direction.

Dated this Seventeenth day of December 2007

CHRIS BOWEN

Minister for Competition Policy and Consumer Affairs

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.