In their submission to the ALRC Copyright and the Digital Economy inquiry, the ACCC came out in support of fair use, was cautious about proposals to repeal the statutory licences (but supported changes to them) and called again for the removal of s51(3), which prevents the ACCC looking after competition in IP markets. 

Anna Harley has prepared a quick run down on the major points of the ACCC submission, illustrating what happens when you take a competition framework and apply it to copyright reform: 

Introduction