Corrs Chambers Westgarth has contributed to the annual edition of “The Cartels and Leniency Review” (Law Business Research Ltd, 2015), which covers established law and policy in 26 jurisdictions around the world and also discusses emerging and unsettled issues.
The chapter on Australia’s cartel regime is authored by Corrs Chambers Westgarth partners Ayman Guirguis and Mark McCowan and covers prohibited cartel conduct in Australia, enforcement and penalties, leniency programs, jurisdictional limitations and areas of uncertainty.
Cartels are a surprisingly persistent feature of economic life. The temptation to rig the game in one’s favour is constant, particularly when demand conditions are weak and the product in question is an undifferentiated commodity. Corporate compliance programmes are useful but inherently limited, as managers may come to see their personal interests as divergent from those of the corporation. Detection of cartel arrangements can present a substantial challenge for both internal legal departments and law enforcement.
This publication offers a resource for practitioners to address an issue of growing importance to large corporations, their managers and their lawyers: the potential liability, both civil and criminal, that may arise from unlawful agreements with competitors as to price, markets or output.
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