ACCC: ACCC reinstates interim approval following Hunter Valley coal industry agreement

M2 PRESSWIRE-September 23, 2009-ACCC: ACCC reinstates interim approval following Hunter Valley coal industry agreement The ACCC originally granted interim authorisation to Port Waratah Coal Services, Newcastle Coal Infrastructure Group and the Newcastle Port Corporation in July 2009 subject to a con...

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Bibliographic Details
Published inM2 Presswire
Format Newsletter
LanguageEnglish
Published Coventry Normans Media Ltd 23.09.2009
Subjects
Coal industry
Long term
Ports
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Summary:M2 PRESSWIRE-September 23, 2009-ACCC: ACCC reinstates interim approval following Hunter Valley coal industry agreement The ACCC originally granted interim authorisation to Port Waratah Coal Services, Newcastle Coal Infrastructure Group and the Newcastle Port Corporation in July 2009 subject to a condition that the applicants execute their respective Capacity Framework Documents by August 31 - a deadline they had set. Authorisation provides immunity from court action for conduct that might otherwise raise concerns under the competition provisions of the Trade Practices Act 1974. Broadly, the ACCC may grant an authorisation when it is satisfied that the public benefit from the conduct outweighs any public detriment. Interim authorisation allows the parties to engage in the conduct prior to the ACCC considering the substantive merits of the application.