Competition and Consumer Amendment (Responding to Exceptional Circumstances) Bill 2026; Second Reading

Continued the debate

Roberts argued the bill granted excessive power to the ACCC and the Minister to exempt large corporations from fair trading laws, potentially allowing price gouging during crises like the Iranian oil shock. Roberts contended that the legislation served to cover up past profiteering by fuel importers who withheld supply from the spot market, thereby inflating retail prices. Roberts opposed the retrospective nature of the bill, which backdated provisions to the start of the crisis, and criticised the lack of committee scrutiny. Roberts stated that One Nation would support amendments to make legislative instruments disallowable and to remove retrospective elements, but would oppose the bill unless these changes were adopted.

Government response

Ayres defended the bill as urgent legislation necessary to manage supply chain disruptions for diesel, petrol, jet fuel, and fertiliser during a significant global energy shock. Ayres argued that the new powers allowed for coordinated action between businesses to ensure essential goods reached regional communities and farmers, enhancing Australia's ability to secure international supplies. Ayres highlighted that Schedule 2 would increase penalties for fuel companies violating the Oil Code of Conduct, providing stronger consumer protections. Ayres confirmed the government would support amendment 3804 moved by Senator McKim regarding Schedule 1.