What does TPC mean in COMMISSIONS

The Trade Practices Commission (TPC) was an Australian Government body that provided oversight of trade, competition, and consumer protection laws. It had powers to conduct inquiries, advise government, and litigate before tribunals and courts. Its functions have been largely taken over by the ACCC since 1995.

The Trade Practices Commission had authority to monitor and enforce compliance with Competition Policy in Australia. It could investigate competition issues related to alleged anti-competitive or restrictive misbehaviour on the part of businesses as well as engage in court proceedings against companies who had breached the law.

Examples of activities undertaken by the Trade Practices Commission include conducting investigations into pricing practices, market power abuse allegations, mergers & acquisitions, cartel behaviour and deceptive marketing practices. The TPC also monitored commercial relationships between suppliers and retailers, which were aimed at ensuring fair market access for suppliers in Australia.

Enforcement of compliance with Competition Policy was provided primarily by the Trade Practices Commission through their investigation powers, ability to provide advice to government, and litigation powers against those who breach the law.

The Australian Competition and Consumer Commission (ACCC) was established in 1995 to replace the Trade Practices Commission with broader powers. Since then it has become Australia’s major consumer protection agency, regulating most aspects of Australia’s domestic and international marketplace including competitors' practices, mergers & acquisitions, misuse of market power and collusive behaviour.

Following changes to competition policy across a number of industries in Australia during the early 1990s it was determined that a revised approach should be taken towards regulation of the market - leading to the establishment of new modernised legislation for competition policy enforcement known as 'The Competition Principles Agreement' which formed part of Australian Labor Party government reforms from 1994 onwards. This ultimately made both TPC obsolete and led to its replacement by ACCC within a year later that same year.

Any person suffering loss or damage associated with any type of non-compliance with competition laws can take action via reporting relevant complaints with either ACCC or relevant State based regulators such as NSW Fair Trading (NSWFT). Complaints can be lodged online or via telephone/written correspondence with further information about investigative procedures available prior to lodging complaint.

Aside from having larger jurisdiction than its predecessor - one key difference between TPC & ACCC lies within areas relating to product safety standards where ACCC viewed as industry regulator whereas previously such responsibility may have fallen upon state based agencies such as NSW Fair Trading (NSWFT). Furthermore under current legislative requirements governing misleading advertising existing legislation enforced by ACCC provides greater scope for enforcement than under previous legislative scheme regulated by TPC.