Competition and Consumer Amendment (Make Price Gouging Illegal) Bill 2024

The majority voted against a motion to agree with the main idea of the bill. In other words, they voted against giving it a second reading. This means the bill will no longer be considered further in parliament.

Note that this bill has already been rejected once before back in 2024 before subsequently being restored to parliament.

What does the bill do?

According to the bill homepage, the purpose of the bill is:

to prohibit a corporation with substantial market power from engaging in conduct that results in, or is likely to result in, an excessive price being charged for a good or service.