Commonwealth legislation

Trade Practices Act 1974 - Direction No. 33 - Monitoring of the prices, costs and profits relating to the supply of unleaded petroleum products in the petroleum industry in Australia

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This Act has been repealed and is no longer in force. It is retained for historical reference.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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This Direction, issued under the Trade Practices Act 1974, requires the ACCC to monitor the retail unleaded petrol market from 17 December 2010 to 17 December 2011 and report to the Minister. It subjects petrol companies' pricing, costs and margins to formal scrutiny and increases transparency for motorists.

The aim is independent oversight to detect price‑fixing, excessive profits or anti‑competitive conduct and to explain whether price rises reflect costs or unjustified gouging.

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Trade Practices Act 1974 - Direction No. 33 - Monitoring of the prices, costs and profits relating to the supply of unleaded petroleum products in the petroleum industry in Australia

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Commonwealth of Australia

Trade Practices Act 1974

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

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

the Australian Competition and Consumer Commission (ACCC) to monitor prices, costs and profits relating to the supply of unleaded petroleum products in the petroleum industry for one year, effective from 17 December 2010;
the ACCC to report to me on its monitoring activities in paragraph (1); and
the report of the ACCC to be provided by 17 December 2011.

Dated this 13th day of May 2010

Craig Emerson

MINISTER FOR COMPETITION POLICY AND CONSUMER AFFAIRS

Source text

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

1 Trade Practices Act 1974 - Direction No. 33 - Monitoring of the prices, costs and profits relating to the supply of unleaded petroleum products in the petroleum industry in Australia