The Australian Competition and Consumer Commission [ACCC] is the major enforcement and consumer protection body created under the Competition Policy Reform Act 1995.

It is an independent statutory authority and will be responsible for the enforcement of the Trade Practices Act 1974 [TPA] and the Prices Surveillance Act 1983 [PSA].  

Under the national competition policy reform, the Trade Practices Act has been amended so that, with State and Territory application legislation, the prohibitions of anti-competitive conduct will be applied to virtually all business in Australia.

The Trade Practices Act covers mergers or acquisitions of companies, seeks to protect consumer and business from unlawful anti-competitive and unfair market practices and enforces product safety/liability laws. 

The ACCC's role in these areas has been extended significantly by increasing the coverage of the Trade Practices Act to include the unincorporated sector (small business and parts of the professions not now covered by the corporations power) and State and local government business enterprises. 

The ACCC adjudicates on business practices and provides guidance to both business and consumers on the rights and obligations under the Trade Practices Act and the Prices Surveillance Act. 

It also seeks to promote competition and business efficiency.

The ACCC will also be responsible for prices oversight including surveillance for companies declared under the PSA, formal price monitoring of products, informal monitoring of prices in sectors, and additional prices oversight functions for Commonwealth government business enterprises.

The ACCC also has responsibilities arising from provisions of the TPA which establish the legal regime to facilitate third party access to certain essential infrastructure.  Access regimes will only apply to significant infrastructure facilities with national monopoly characteristics and with wide economic influence.

The ACCC will seek to maximise compliance with the TPA by educating business and consumers, through its approval processes for business conduct and mergers, and by enforcing the provisions of the Act through legal action.

Sources:  Press release of 30 October 1995.  Assistant Treasurer's Speech of 6 November 1995 and promotional material provided by ACCC.
Historical agency address
Yellow Building, Benjamin Offices, Chan Street, Belconnen ACT 2617
Legislation administered
Competition Policy Reform Act 1995, Trade Practices Act 1974 and Prices Surveillance Act 1983