The ACCC recently updated its “Guidelines on ACCC approach to court enforceable undertakings” (Guidelines).
The Guidelines reflect the ACCC’s current approach to negotiating and administering court enforceable undertakings. Undertakings can be a cost-effective, timely and tailored redress solution for businesses in response to ACCC enforcement actions.
The key changes to the Guidelines are:
The ACCC has also updated its compliance program templates to reflect the Guidelines (given many undertakings involves the contravener making a commitment to implement or update its compliance programs).
The compliance program template clarifies that:
With the significant repercussions for breaching competition and consumer law, compliance is king.
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