Section 86 Federal Competition and Consumer Protection Act 2018

Section 86 of the Federal Competition and Consumer Protection Act 2018 is about Powers of the Tribunal in relation to a report on a monopoly investigation. It is under Part X (Monopoly) of the Act.

(1) The provisions of this section shall have effect where a report of the Commission on a monopoly investigation is referred to the Tribunal with the conclusions of the Commission that-
(a) a monopoly situation exists and that facts found by the Commission in its investigations operate or may be expected to operate, against the public interest; and

(b) a report of the Commission herein shall specify particular adverse effects of the monopoly situation to the public interest.

(2) The Tribunal may, based on the findings of the Commission pursuant to subsection (1), exercise any of its powers under this Act or make such orders as considered necessary for the purpose of remedying or preventing the adverse effects specified in the report.

(3) An order of the Tribunal made under subsection (2) may, in particular-
(a) declare an agreement to be unlawful to such extent and in such circumstances as may be provided by this Act or regulations made under this Act;
(b) require any party to such agreement as may be specified or described in the order to terminate the agreement within such time as may be so specified, either wholly or to such extent as may be specified;

(c) require a person supplying goods or services to publish a list of prices, with or without such further information as may be specified or described in the order;
(d) prohibit or restrict the acquisition by any undertaking of the whole or part of another undertaking; or
(e) provide for the division of any undertaking by the sale of any part of its shares, assets or otherwise for which purpose all the activities carried on by way of business by any one undertaking or by any two or more interconnected undertakings may be treated as a single business or for the division of any group of interconnected undertakings and for all such matters as may be necessary to effect or take account of the division, including the-

(i) transfer or vesting of property rights, liabilities or obligation,
(ii) adjustment of contracts, whether by discharge or reduction of any liability or obligation or otherwise,
(iii) creation, allotment, surrender or cancellation of shares, stock or securities,
(iv) formation or winding up of an undertaking or association, corporate or unincorporated, or the
amendment of the memorandum and articles or other instmments regulating any undertaking or association,

(v) extent to which and the circumstances in which provisions of the order affecting an undertaking or
association in its share capital, constitution or other matters may be altered by the undertaking or
association and the registration under any enactment of the order by undertakings or associations so affected, or
(vi) continuation with any necessary change of parties of any legal proceedings.

(4) The reference in subsection (3) (e) to the division of an undertaking shall be construed as including a reference to the separation by the sale of any part of any shares or assets concerned of undertakings which are under joint control.

(5) In determining whether or not and to what extent or in what manner to exercise any of the powers referred to in subsection (2), the Tribunal shall take into account the objectives of this Act.

(6) Where a report made under subsection (1) specifies that the undertaking in whose favour the monopoly situation exists is a body corporate fulfilling the following conditions-
(a) that the affairs of the body corporate are managed by its members, and
(b) that by virtue of any enactment, those members are appointed by a supervising Minister of that body corporate, the Tribunal shall, if requested, receive representations from the Minister who appointed members of that body corporate and shall consider such representations before making any orders or exercising any powers.

(7) In relation to any such undertaking as is mentioned in subsection (6) the powers exercisable under subsection (2) shall not include the powers specified in subsection (3 )(e).