Supermarkets in crosshairs as Australian government flags mandatory codes, higher penalties

( April 8, 2024, 06:01 GMT | Official Statement) -- MLex Summary: Australia’s supermarkets should be forced to comply with an industry-wide code of conduct and face greater penalties for breaches of the rules, a government review has recommended. In an interim report released today, Craig Emerson, a former government minister, said the existing voluntary code of conduct governing relations between Australia’s supermarkets and their suppliers was not effective, and should be replaced by a mandatory model. Emerson also recommended that companies breaching the code should face penalties of up to 10 percent of their annual turnover.The interim report of the Australian government's Grocery Code of Conduct Review is attached. The joint statement by Treasurer Jim Chalmers and Competition Minister Andrew Leigh follows....

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Supermarkets in crosshairs as Australian government flags mandatory codes, higher penalties

Prepare for tomorrow’s regulatory change, today

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