The observations made in this submission can be summarised in the following manner: - the aim of competition law in Australia should not be solely focused on the economic welfare of consumers but should also recognise the need to promote fair competition, enabling efficient businesses large and small, to compete effectively and drive growth in productivity and living. - the terms of s 46(1) of the Competition and Consumer Act 2010 (Cth) (CCA) should be broadened to include an ‘effects test’ alongside the current ‘purpose test’, thus lowering the hurdle the ACCC must face in enforcing s 46. The ‘effects test’ may deter a rational actor from breaching the law because of the greater likelihood that the ACCC may initiate legal action against him or her. - a review of the sanctions regime may be required as the current system is unlikely to deter rational actors from breaching the law. Amendments to the pecuniary penalties for corporations under s 76(1A)(b) and for individuals under s 76(1B)(b) are suggested, as is a strengthening of the court’s powers to make disqualification orders against individuals under s 86E. - statistical analysis shows it is very difficult to take action and enforce rights in relation to competition issues because the regulatory system is ineffective and hampers enforcement efforts.