Christine Milne (Tasmania, Australian Greens) Share this | Hansard source

Thank you, Senator Brandis, for your considered opinion. I have heard it once; I do not need to hear it again. As I said, the amendments provide that the ACCC can continue to exercise its information-gathering powers until it commences proceedings or until the close of pleadings in relation to injunction proceedings. We support that occurring.

In conclusion, it is fair to say that the Greens are supportive of this legislation. I must say that it is difficult to make a judgement as to whether the changes to the definition of market power are sufficient to give effect to what the government is trying to do. But they do give internal consistency to the provisions of the Trade Practices Act. We note that things have changed since 2003. We are not dealing with the same environment as when the Boral case was heard. We need to make that perfectly clear. On that basis, on balance the Greens support what the government is seeking to do. What needs to be recognised is that the whole parliament wants to do the best it can to prohibit the misuse of market power for anticompetitive purposes. The difference of opinion comes down to whether you believe market power or market share is the proper way to go. We have to bear in mind that you can have considerable market power even though you may only have a small market share. That is something that has been demonstrated.

I would like to acknowledge that everybody is approaching this debate from the point of view of trying to protect the consumer as best we can and trying to protect small business against the anticompetitive power that other businesses may exert in the market. I am persuaded that the changes were made to the legislation last year and these amendments are what the ACCC says it needs.