New discussion paper on meaning of ‘understanding’

Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, Chris Bowen MP, yesterday released a discussion paper calling for submissions on the meaning and proof of the term ‘understanding’ in the TPA. This follows concerns raised by the ACCC in the petrol inquiry that courts had, in recent times, narrowed the meaning of ‘understanding’ and that they had set a ‘high evidentiary bar’ for proving the existence of an understanding. Submissions are due by 31 March 2009. Visit my competition law website for more details.