Today Cabcharge Australia Ltd announced a settlement with the Australian Competition and Consumer Commission in relation to court proceedings for alleged breaches of the Trade Practices Act. Cabcharge will pay $15 million in penalties and costs.
In a regulatory filing Cabcharge said that it “has agreed not to disclose the contents of its terms of settlement with the ACCC, and will not be commenting further on the facts and three contraventions”.
The ACCC started court proceedings against Cabcharge last June, alleging the company breached the Trade Practices Act through anti-competitive behaviour.
The case serves as a warning about the importance of understanding the provisions of the Trade Practices Act that are relevant to your dealings with your customers, competitors and suppliers. It also serves as a stark reminder of the potential penalties for non-compliance!