The Institute of Public Accountants (IPA) has welcomed legislative changes to section 46 of
the Competition and Consumer Act 2010.

“The IPA has long advocated change to the misuse of market power provision within the Act
and has continually voiced support for the recommendations falling out of the Harper
Competition Policy Review,” said IPA chief executive officer, Andrew Conway.

“We commend the Government for introducing the changes we have been fighting for;
changes that will better protect small business in a more equitable, competitive market.
“The amendment will help address anti-competitive conduct and protect the competition
process rather than the interests of individual players in the market. This is particularly
important to small business.

“Considering 97 per cent of all Australian businesses is made up of small businesses, this is
a huge win.

“This change and other recommendations from the Harper Review which are currently
before the House of Representatives will go a long way in forming a fairer playing field for all
and will enhance Australia’s capacity to compete globally,” said Mr Conway.