Competition and Consumer Amendment Regulations (2012)

On 23 December 2011, the Government announced the commencement of consultation on draft Competition and Consumer Amendment Regulations (2012) (No. ) (Draft Regulations). The Draft Regulations: give effect to the Government’s decision to initially target the laws at the banking sector; outline the process to be followed by the Minister before prescribing a class of goods or services to the prohibitions (other than banking); and provide forms, and prescribe fees for parties to apply to the Australian Competition and Consumer Commission for immunity for proposed disclosures which would otherwise contravene the prohibitions.