The regulation of procurement by the Australian federal government and listed Companies (Australian Competition Law) Name: Course; Lecturer: Date: The regulation of procurement by the Australian federal government and listed Companies (Australian Competition Law) Introduction In the 1990s, Australia began an ambitious micro-economic reform program. This program was a follow-up of the less ambitious market liberalizing measures of the 1980s, which was mainly in the finance sector and import tariff reforms (Given, 2010). With the traded products sectors, they were being exposed to more competition, and, therefore, the main aim of the 1990s reforms was improving the performance of the non-trade sectors. Consequently, the Australian government recognized that the law of competition was broader that the governing legislation market conducts (Whish and Bailey, 2012). However, the competition law was included in all policies that dealt with the nature and extent of competition in the economy. In this regard, this paper will discuss the reasons as to why the differences in the regulation of
Surname 2 procurement (competition law) by the Australian federal government and listed Companies are justified . In this case, the Australia’s National Competition Policy (NCP) was governed by three intergovernmental agreements, which included the competition principles agreement, which was signed by the government of Australia’s territories and states and by the federal government (Brunt, 2003). This reform was based on the recommendations of the NCPR recommendations, and it was made up of three groups of reforms. The first reason was that there was the creation of a single, economy wide competition law that affects all businesses and markets; together with a comprehensive and appropriate reform and review of all state, federal, and territory legislation that regulated markets and restricted competition (Papadopoulos, 2010). The beneficial principle for this reform is that there was to be a net public benefit case that exempts the national competition law or restricts competition, this is achieved by the use of specific exemption processes in the national law. Secondly, there was a set of policies that were designed in improving the performance of the publicly-owned businesses, and more specific, in ensuring that these businesses were subjected to the same competition policy disciplines as private firms. Some of these policies included; the measure that make sure that publicly-owned companies did not enjoy any particular advantage by being part of the government when they are competing with private firms. Some of these measures included competitive neutrality complaints process; (Steane and waler, 2000) additionally, the structural reform of public monopolies, where the separating parts of these benefits did, or viably could, operate in competitive markets outweighed any associated costs; and lastly, setting an independent pricing oversight that limit monopoly pricing or behavior of the remaining monopolies.
- Winter '16
- Professor Obura Oluoch
- Monopoly, Government of Australia