Document ID: chunk:federal_register_of_legislation:C2004A01719:body:0:p51
Version: federal_register_of_legislation:C2004A01719
Segment Type: other
Provision Reference: 
Character Range: 122372–125073

section 45b in so far as it confers rights or benefits or imposes duties or obligations on a corporation or on a person associated with a corporation; or

         (b) the engaging in conduct by a corporation in pursuance of or in accordance with a contract made before the commencement of the Trade Practices Amendment Act 1977 would constitute a contravention of section 47,
    the Court may, on the application of a party to the contract or of a person who would, but for sub-section 45b(1), be bound by, or entitled to the benefit of, the covenant, as the case may be, make an order—
         (c) varying the contract or covenant, or a collateral arrangement relating to the contract or covenant, in such manner as the Court considers just and equitable; or
         (d) directing another party to the contract, or another person who would, but for sub-section 45b(1), be bound by, or entitled to the benefit of, the covenant, to do any act in relation to the first-mentioned party or person that the Court considers just and equitable."; and
     (b) by inserting in sub-section (5), after the word "contract" (wherever occurring), the words "or covenant".
(2) Where—
     (a) a contract made before 1 February 1975 was at any time during the period that commenced on that date and ended immediately before the commencement of this Act, unenforceable in whole or in part by reason of section 45 of the Principal Act; or
     (b) the engaging in conduct at any time during the period referred to in paragraph (a) by a person in pursuance of or in accordance with a contract made before 1 February 1975 would have constituted a contravention of section 47 of the Principal Act,
the Federal Court of Australia may, on the application of a party to the contract, make an order—
     (c) varying the contract, or a collateral arrangement relating to the contract, in such manner as that Court considers just and equitable; or
     (d) directing another party to the contract to do any act in relation to the first-mentioned party that that Court considers just and equitable.

Heading.
53. The heading to Part VII of the Principal Act is amended by inserting after the word "AUTHORIZATIONS" the word ", NOTIFICATIONS".
54. (1) Section 88 of the Principal Act is repealed and the following section substituted: —

Power of Commission to grant authorizations.
"88. (1) Subject to this Part, the Commission may, upon application by or on behalf of a corporation, grant an authorization to the corporation—
     (a) to make a contract or arrangement, or arrive at an understanding, where a provision of the proposed contract, arrangement or understanding would be, or might be, an exclusionary provision