The ACCC has several key functions, which include:
- Enforcing Competition Law: Ensuring businesses comply with competition laws to prevent anti-competitive practices like cartels, monopolies, and price-fixing. - Consumer Protection: Safeguarding consumer rights by addressing misleading advertising, product safety, and unfair trading practices. - Regulatory Oversight: Regulating industries with limited competition to ensure fair pricing and access to essential services. - Merger and Acquisition Assessments: Evaluating proposed mergers and acquisitions to prevent the creation of monopolies or dominance that could hinder competition.