[no bill text published] Ban on excessive pricing for corporations with substantial market power
Competition and Consumer Amendment (Make Price Gouging Illegal) Bill 2024
Private Member's Bill1st House
2nd House
Law
Introduced by: Nick McKim (GRN)
Links to official parliament websites
Effects of this bill
If this bill passes, it means that:
Corporations with substantial market power cannot charge excessive prices for goods or services.
The law compares the price to what it would be if the corporation lacked market power.
The ban does not apply if a state or federal law requires or allows the price.
Corporations with a total group turnover under $10 million are exempt.
Turnover is calculated as the sum of all supplies made during the period; it excludes input taxed or non-enterprise supplies.