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Market Conduct Rules
The Market Conduct Rules makes it illegal to engage in business conduct, behaviour or practices that have, or, are likely to have the effect of substantially lessening competition in a market.
There is no precise definition of substantial lessening of competition (SLC). In practice it will depend on the circumstances in the market. It includes a reference that defines the consequences or unacceptable competitive behaviour prohibited by the ICCC Act.
There are a range of other exceptions under the ICCC Act which remove particular types of conduct or arrangements or covenants from the application of the Market Conduct Rules. Included in these exceptions are for example, an exception for acts or things specifically authorised by other legislation; intellectual property agreements; and employment agreements.
In broad term, the market conduct rules include: