and a mandatory industry code of conduct introduced. The details of the new pricing regime – the code of conduct will include a “reasonable price” provision that allows for a reasonable return on capital – will not be worked out until February.available under consumer legislation to enforce the price cap, including penalties of $50 million-plus. It will also advise the government on when to lift the reasonable price provision.
Staff had also already started preparing the mandatory code provisions, which will be released for industry consultation in tranches as they progressed.extraordinary intervention“Particular components of the mandatory code and its provisions are [still] to play out with the proposed drafting and consultation,” she said.“... But the policy intent and the legislative powers have been well articulated by the government.
“Then we will be tracking [that] in a very data-intensive way, so the government can ensure that the subsidies are actually delivering more affordable childcare and the level of quality childcare that our parents and carers are looking for.”The ACCC was “already well progressed on this” despite the 12-month inquiry only formally kicking off on January 1.
Ms Cass-Gottlieb pledged the ACCC would keep tracking changes in childcare standards and pricing even afterShe also put telecommunications providers and retailers on notice that they would be under scrutiny in 2023 for any attempts to mislead customers on pricing, following a flurry of enforcement activity by the watchdog late last year.
About time