what are the objectives of competition act 2002
The Competition Act, 2002 It is a tool to implement and enforce competition policy and to prevent and punish anti-competitive business practices by firms and unnecessary Government interference in the market. Competition laws is equally applicable on written as well as oral agreement, arrangements between the enterprises or persons.
1901 Federal Flag Design Competition After Federation on 1 January 1901 and following receipt of a request from the British government to design a new flag, the new Commonwealth Government held an official competition for a new federal flag in April. The competition attracted 32,823 entries,[2] including those originally sent to the one held earlier by the Review of Reviews.[2] One of these was submitted by an unnamed governor of a colony.[3] The two contests were merged after the Review of Reviews agreed to being integrated into the government initiative. The £75 prize money of each competition were combined and augmented by a further £50 donated by Havelock Tobacco Company.[2] Each competitor was required to submit two coloured sketches, a red ensign for the merchant service and public use, and a blue ensign for naval and official use. The designs were judged on seven criteria: loyalty to the Empire, Federation, history, heraldry, distinctiveness, utility and cost of manufacture.[4] The majority of designs incorporated the Union Flag and the Southern Cross, but native animals were also popular, including one that depicted a variety of indigenous animals playing cricket.[3] The entries were put on display at the Royal Exhibition Building in Melbourne and the judges took six days to deliberate before reaching their conclusion.[3] Five almost identical entries were chosen as the winning design, and their designers shared the £200 (2015: $29,142.12) prize money. They were Ivor Evans, a fourteen-year-old schoolboy from Melbourne; Leslie John Hawkins, a teenager apprenticed to an optician from Sydney; Egbert John Nuttall, an architect from Melbourne; Annie Dorrington, an artist from Perth; and William Stevens, a ship's officer from Auckland, New Zealand. The five winners received £40 each.[3] The differences from the present flag were the six-pointed Commonwealth Star, while the components stars in the Southern Cross had different numbers of points, with more if the real star was brighter. This led to five stars of nine, eight, seven, six and five points respectively.[3]