On 26 September John Martin presented these ideas at the GAP Congress on Regulatory Affairs: "Opportunities for Business", held in Parliament House of Victoria.
Regulation that fosters market competition by definition must be good for business opportunity. On the other hand market arrangements that cultivate cartels and other anti competitive are anathema to innovation.
The Trade Practices Act 1974 (TPA) is a unique "animal" in setting a low intervention framework for policing anti-competitive arrangements and unfair trading practices to protect individual and business consumers.
Unlike some other areas of regulation of business behaviour, there is not a requirement for businesses to regularly report to the Australian Competition and Consumer Commission (ACCC) in its role administering the TPA. Enforcement and compliance actions by the Commission are driven by specific complaints or identification of concerns in a particular sector. The ACCC handles 80,000 plus complaints and enquiries per year.