Australian Competition and Consumer Commission
Section 1: Overview, appropriations and budget measures summary
The Australian Competition and Consumer Commission (ACCC) is an independent statutory authority which administers the Trade Practices Act 1974 and the Prices Surveillance Act 1983 and performs functions under other Commonwealth legislation and State and Territory Competition Policy Reform Acts.
The ACCC seeks to:
- promote effective competition and informed markets;
- encourage fair trading and protect consumers; and
- regulate infrastructure services market and other markets where competition is restricted.
The ACCC also collects administered revenue on behalf of the Government and this includes authorisation fees, fines and costs.
Appropriations and resourcing
The total appropriation for the ACCC in the 2003-04 Budget is $66.6 million. Table 1.1 on the following page provides this detail.
Table 1.2 details funding provided for new budget measures in 2003-04.
Australian Competition and Consumer Commission - appropriations 2003-04
Table 1.1: Appropriations and other revenue
(1) C1 and E1 refer to information provided in Table 2.1, Total resources for Outcome 1. K1 refers to information provided in Table 3.1, Budgeted Agency Statement of Financial Performance.
(2) Refer to Table 3.1, Budgeted Agency Statement of Financial Performance for application of agency revenue.
(3) Revenue from other sources includes other revenues from government (for example, resources free of charge) and revenue from other sources (for example, goods and services). Non-appropriated agency revenues are detailed in Table 1.3.
Note: Percentage figures indicate the percentage contribution of revenues from government (agency appropriations) to the total price of outputs, by outcome.
Measures - Australian Competition and Consumer Commission summary
Table 1.2: Summary of measures disclosed in the 2003-04 Budget
Agency and administered revenues
Table 1.3: Agency and administered revenues
Note: 1 per cent of revenues are due to cost recovery arrangements.
Revenues include interest, goods and services (that is, seminars/speakers fees, sale of publications, photocopy revenue and sale of non-current assets).
Table 1.5: Estimates of special account flows and balances
(1) The opening balance for 2003-04 (reference A) is the same as the closing balance for 2002-03 (reference B).
(2) The special accounts are departmental in nature and is governed by Section 20 of the Financial Management and Accountability Act 1997.
The Special Public Monies are held by the ACCC in a Trustee capacity. The Trust monies are a result of a court order of which payment to the beneficiary is pending. These monies are temporarily held for the benefit of a person or entity other than the Commonwealth.
Equity injections and loans
The ACCC does not have an appropriation for an equity injection or loan in the 2003‑04 Budget.