In civil cartel proceedings brought by the ACCC, the Federal Court has found that
The Court found that between
"The Court has found that BlueScope, which is one of
"If successful, these attempts would have resulted in agreements between competitors which reduced price competition in the Australian flat steel market and increased prices for flat steel products which are widely used in
"Cartels not only disadvantage other businesses which are competing lawfully, but can also lead to consumers paying higher prices."
"This is an important decision which has the potential to strengthen the ACCC's position in future cases of attempted cartel conduct,"
"This should serve as a strong warning to all businesses and individuals that even attempting to reach a price fixing arrangement with one or more competitors may have very serious consequences, on both a corporate and personal level. Corporations and individuals involved in cartel conduct may face either ACCC civil enforcement action or potential criminal charges brought by the Commonwealth Director of Public Prosecutions."
A hearing on penalties and other orders has been set down for
This decision comes after
Background
BlueScope is the major manufacturer of flat steel products in
In
In
Note for editors
A cartel exists when businesses agree to act together instead of competing with each other. Conduct can include price fixing, sharing markets, rigging bids and controlling the output or limiting the amount of goods and services. More information about cartel conduct can be found on the ACCC's website at Cartels.
The ACCC investigates cartel conduct and can take civil cartel proceedings in the Federal Court or refer serious cartel conduct to the Commonwealth Director of Public Prosecutions.
The ACCC works to detect cartels including through education programs, proactive intelligence gathering and data assessment and working with overseas counterparts to identify cartels that operate on a global level.
The ACCC also manages an immunity program that enables past or present cartel members to confess their actions and cooperate with investigations in exchange for immunity from civil cartel proceedings brought by the ACCC and criminal cartel charges laid by the Commonwealth Director of Public Prosecutions (CDPP).
Anyone who thinks they may be involved in cartel conduct is urged to call the ACCC Cartel Immunity Hotline on (02) 9230 3894. More information about the immunity process is available on the ACCC website at Cartels.
You can also report cartel conduct by using the anonymous cartel portal.
Public procurement officials who want to know more about detecting cartels are encouraged to contact the ACCC Cartel Outreach team at carteloutreach@accc.gov.au.
For corporations, the maximum penalty for each cartel contravention before
*
*three times the total benefits that have been obtained and are reasonably attributable to the commission of the offence, or
*if the total value of the benefits cannot be determined,10 per cent of the corporation's annual turnover connected with
An individual found to have been involved in civil cartel conduct before
The maximum civil penalties for cartel conduct by corporations were substantially increased with effect from
Use this form to make a general enquiry. Media enquiries: Media Team - 1300 138 917, media@accc.gov.au
.
(C) 2022 M2 COMMUNICATIONS, source