Note: Expressions have the same meaning in this instrument as in the Competition and Consumer Act 2010 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act2003.
(1)Under subsection 95AE(1) of the Act, it is declared that the exceptional circumstances mentioned in subsection (2) exist and that those circumstances are causing significant harm to the Australian economy or Australian consumers, and that it is in the public interest to empower the Commission to make determinations under either or both of, section 92D and section 95AC of the Act.
(2)For the purposes of subsection (1), the exceptional circumstances are the disruptions to global supply chains arising from the conflicts in the Middle East commencing in February 2026 and the disruptionsto international shipping transport through the Strait of Hormuz.
(3)Subsection (1) also applies for the purposes of the Competition Code.