Artboard 1Icon/UI/CalendarIcons/Ionic/Social/social-pinterestIcon/UI/Video-outline

Inside track: Competition & Consumer

27 October 2021

#Competition & Consumer Law

Inside track: Competition & Consumer

In the media

Colonial First State to pay $20 million penalty for misleading superannuation members
The Federal Court has ordered Colonial First State Investments Limited, as trustee for the Colonial First State FirstChoice Superannuation Trust, to pay a penalty of $20 million for misleading communications with members. The Court noted this to be a substantial penalty for serious contraventions of the law (19 October 2021).  More...

Star promises to defend as two Australian law firms investigate class actions
Two Australian law firms have announced they are investigating possible class actions against Star Entertainment Group around alleged inadequacies in in the company’s internal systems for ensuring compliance. The proposed class action will allege that Star engaged in misleading and deceptive conduct; breached its continuous disclosure obligations; and conducted its affairs contrary to the interests of members as a whole in the period” (19 October 2021).  More...

Competition in Australia faces big challenges
In a speech to the Competition Law and Economics Workshop jointly hosted by the University of South Australia and the ACCC, Mr Sims said three main competition issues needed to be addressed to protect the health of our economy: Merger law reform, the need to prove the future in competition cases, and the role of new regulation for digital platforms (15 October 2021).  More...

IAG could face financial penalties after ASIC action
ASIC says Insurance Australia Ltd engaged in misleading or deceptive conduct and made false or misleading representations by stating some NRMA Insurance customers were eligible for certain discounts on home and motor policy renewals, but then not applying the savings. New penalty provisions introduced after the Hayne royal commission allow ASIC to pursue harsher penalties for breaches of the Corporations Act and the ASIC Act (18 October 2021).  More...

ACCC seeks injunction to stop fertility clinic acquisition
ACCC Chair Rod Sims said the acquisition would increase Virtus’ already significant market share in Brisbane and Melbourne and there are strong indications that Adora has been a vigorous competitor, driving down prices for IVF services through a low-cost model (13 October 2021).  More...

Cases

Ausipile Pty Ltd v Bothar Boring and Tunnelling (Australia) Pty Ltd [2021] QCA 223
CONTRACTS – BUILDING, ENGINEERING AND RELATED CONTRACTS – REMUNERATION – STATUTORY REGULATION OF ENTITLEMENT TO AND RECOVERY OF PROGRESS PAYMENTS – PAYMENT CLAIMS – where the appellant and respondent entered a subcontract agreement to design and construct a secant pile launch shaft – where the respondent hired a crawler crane from the appellant to complete works under the head contract – where the appellant applied for judgment pursuant to s 78(2)(a) of the Building Industry Fairness (Security of Payment) Act 2017 (Qld) to recover amounts owing under a payment claim but the application was dismissed – whether the variation in relation to the hire of the crawler crane related to a contract other than the subcontract – whether the payment claim contained claims in relation to two contracts – whether the payment claim was void for the purpose of the Building Industry Fairness (Security of Payment) Act 2017 (Qld)
CONSUMER PROTECTION – MISLEADING OR DECEPTIVE CONDUCT OR FALSE REPRESENTATIONS – CHARACTER OR ATTRIBUTES OF CONDUCT OR REPRESENTATION – SILENCE AND NON-DISCLOSURE – where the respondent sent the appellant a letter stating that it would withhold further payment claims “as discussed” – where the appellant did not respond to the letter – whether the appellant’s silence was misleading or deceptive or likely to mislead or deceive. Building Industry Fairness (Security of Payment) Act 2017 Qld s 67, s 68, s 69, s 70, s 75, s 76, s 77, s 78, s 100

Disclaimer
The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this publication is accurate at the date it is received or that it will continue to be accurate in the future. We are not responsible for the information of any source to which a link is provided or reference is made and exclude all liability in connection with use of these sources.

Share this