Authorisation Under the Competition and Consumer Act 2010 (Cth) Part

question 29

Multiple Choice

Authorisation under the Competition and Consumer Act 2010 (Cth) Part IV is:

• A)An administrative procedure whereby a business notifies the ACCC about an action that would otherwise be a contravention of the CCA and attains immunity from civil proceedings.
• B)An administrative procedure whereby the ACCC authorises conduct that would otherwise be a contravention of the CCA, on public benefit grounds
• C)A judicial procedure in which the Court authorises conduct that would otherwise be a contravention of the CCA on legal grounds.
• D)A judicial procedure in which the Court gives the notifier immunity from civil proceedings in respect of action that would otherwise be a contravention of the CCA.

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Definitions:

Owner's Equity

Represents the share of the company's assets that belongs to the owners after all debts have been paid.

Cash

Cash refers to money in the form of currency, including coins and banknotes, that can be used immediately for transactions.

Expense

An outflow of money or other resources incurred as a result of the company’s operations to generate revenue, representing the cost of doing business.

Prepaid Insurance

An asset account that represents insurance payments made in advance for future coverage periods.