Treasury Releases Draft Code to Regulate Supermarket Giants

Published on September 23, 2024

The Australian government has invited stakeholder feedback on its draft regulations that promise to improve competitiveness in the supermarket sector. The Competition and Consumer (Industry Codes—Food and Grocery) Regulations 2024 propose several key changes, including making the Food and Grocery Code of Conduct mandatory, enhancing dispute resolution processes, addressing supplier concerns, and introducing significant penalties for breaches, according to a statement issued by Treasury on Sept. 23. These amendments, which follow former MP Craig Emerson’s independent review, aimed at creating a fairer playing field between suppliers and retailers like Coles and Woolworths. The consultation period is open until Oct. 18, 2024, for the proposed amendments to the Competition and Consumer Act 2010....

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