This chapter focuses on the concept that ‘because of’ the conduct of the wrongdoer, damage is suffered. Since the conduct of a person which contravenes one or more provisions of the ACL could also make the wrongdoer liable in tort or breach of contract, the extent to which common law principles would apply in the assessment of compensation under the ACL will make up a large part of the discussion.
The jurisprudence created under the s 52 of the ‘old’ Trade Practices Act and associated provisions concerning compensation for misleading or deceptive conduct remains largely applicable to the ACL due to the close similarity in the wording of the respective provisions. By virtue of s 131A Competition and Consumer Act, the ACL does not apply in respect of financial products. The equivalent provisions of the Australian Securities and Investments Commission Act, (‘ASIC Act’) which regulate financial services and products, are virtually identical and will not attract dedicated treatment.
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