This legislative instrument is a direction made under section 95ZF of the Competition and Consumer Act 2010. Its job is specific. It tells the Australian Competition and Consumer Commission, or ACCC, to undertake formal monitoring of the prices, costs and profits related to the supply of car parking services at certain major Australian airports.
The direction is not written as a broad code for the whole airport sector. It does not say that every business operating at an airport is covered. It does not create a general airport parking law for all airports in Australia. Instead, it identifies four named airports and the relevant operators whose car parking services are to be monitored.
The practical effect is that airport car parking at those locations sits within an ongoing ACCC monitoring framework. If your business is the operator of a car parking facility at one of the named airports, you should read this direction as part of the regulatory setting around your parking prices, your parking-related costs and your parking-related profits.
The direction also requires the ACCC to report to the Assistant Treasurer on its monitoring activities as soon as practicable following the end of each financial year. That means the monitoring framework is not a one-off exercise. It is designed to operate on a recurring annual basis.