Following the release of the final terms of reference for the 'root and branch' review of Australia's competition law and policy, the review panel has released an issues paper and a fact sheet about the review. Partner Kon Stellios reports.
On 27 March 2014, the Federal Government released the final Terms of Reference for the 'root and branch' review announced late last year and appointed an expert panel to lead the review into Australia's competition laws. For our perspective on the final Terms of Reference, please see our Client Update: Competition policy 'root and branch' review final Terms of Reference released and for further background, please see our Focus Clear out the dead wood: a 'root and branch' review of competition law.
On 14 April 2014, the review panel released an Issues Paper which outlines the scope of the review and invites written submissions from interested parties. The panel also released a fact sheet in which it outlines the proposed timeline for the review process.
The Issues Paper invites submissions on a series of high-level questions in relation to the overall direction of the review which arise from the Terms of Reference1, as well as on particular issues identified throughout the paper. In addition, the panel invites submissions on any aspect that affects the competitive process in Australia, whether or not identified in the Issues Paper.
The proposed timeline for the review is as follows:
- May/June 2014 – Consultation period.
- 10 June 2014 – Submissions close.
- September 2014 – Draft report released.
- Oct/Nov 2014 – Further consultation and submissions.
- Early 2015 – Final report to be released.
We will keep you closely informed of future developments in relation to the review. Submissions can be formal or can be by way of direct response to key questions through the Competition Review website.
- Paper p7.