[no bill text published] FED Prohibition on Excessive Pricing for Corporations with Substantial Market Power

Competition and Consumer Amendment (Make Price Gouging Illegal) Bill 2024

Private Member's Bill

5 Feb 2026: This bill has lapsed and is no longer under discussion.

Senate

House of Representatives

Assent

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Topics

competition consumer protection corporate liability economy market power price gouging

Introduced by: Senator Nick McKim (GRN)

Links to official parliament websites

Official page: progress through parliament

Effects of this bill

If this bill passes, it means that:

Corporations with substantial market power must not charge excessive prices for goods or services.
The law bans making offers or entering agreements at prices that are excessive.
A price is excessive if it is higher than the competitive price that would exist without the corporation's market power.
The ban does not apply if a Commonwealth, State, or Territory law requires or allows the price.
Corporations with a total group turnover of less than $10 million are exempt.
Turnover is calculated as the sum of all supplies; it excludes input taxed supplies and those not made for consideration.