The legislated fines will be the highest corporate penalties under any industry code, targeting supermarkets with maximum fines of $10 million, three times the benefit gained from the breach, or 10 per cent of their turnover from the previous 12 months. The Australian Competition and Consumer Commission (ACCC) will also have the authority to issue infringement notices to supermarkets.
The legislated fines will be the highest corporate penalties under any industry code, which aims to make things fairer for farmers and families.Under the legislation, supermarkets will face maximum fines of $10 million, three times the benefit gained from the breach, or 10 per cent of their turnover from the previous 12 months.
Competition Minister Andrew Leigh said they wanted to create a "system that locks in substantial multi-million dollar penalties for bad conduct from supermarkets". 'Stop violence before it starts': How a simple question can help change men's attitudes towards womenThe Food and Grocery Code of Conduct was first introduced in 2015, which aims to improve business behaviour in the supermarket sector, particularly in regard to the relationships between retailers, wholesalers and their suppliers.
AUSTRALIA SUPERMARKET REGULATIONS FARMER PROTECTION COMPETITION MINISTER ANDREW LEIGH AUSTRALIAN COMPETITION AND CONSUMER COMMISSION
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