The Trade Practices Act aims to enhance the welfare of Australians by promoting competition and fair trading and providing for consumer protection.

The Act deals with almost all aspects of the marketplace: the relationships among suppliers, wholesalers, retailers, competitors and customers. It covers anti-competitive conduct, unfair market practices, industry codes, mergers and acquisitions of companies, product safety, product labeling, price monitoring, and the regulation of industries such as telecommunications, gas, electricity and airports.