Commonwealth Numbered Acts

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TRADE PRACTICES ACT 1974 No. 51, 1974 - SECT 124

Effect of disapproval.
124. (1) Where an agreement is disapproved under this Division, the agreement
becomes, upon the date on which the order of disapproval takes effect,
unenforceable as regards observance of the agreement, so far as it relates to
outwards cargo shipping, on and after that date, but a transaction entered
into, whether before or after the order takes effect, in pursuance of the
agreement is not illegal or unenforceable by reason only of the making of the
order.

(2) A party to a disapproved agreement shall not-

   (a)  do any act or thing in pursuance of, or enforce or purport to enforce,
        the agreement (including the agreement as varied by any later
        agreement) so far as it relates to outwards cargo shipping;

   (b)  enter into any other conference agreement (whether with the same
        parties or with other parties) that relates, in whole or in part, to
        the carriage of goods from Australia to a place outside Australia that
        is a place to the carriage of goods to which the disapproved agreement
        related; or

   (c)  do any act or thing in pursuance of, or enforce or purport to enforce,
        an agreement referred to in paragraph (b).

Penalty: $50,000. 


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