Technology Giants such as Facebook and Google will have to abide by the new rules of Australian government or else they will face severe control over them . The new set of rules are imposed in Australia to ensure they do not abuse their market power and damage competition.

Prime Minister Scott Morrison said the Australian Competition and Consumer Commission (ACCC) will create a code of conduct to address complaints that the technology companies have a stronghold on advertising, the main income generator of local media operators. The guidelines will ensure substantial market power is not used to lessen competition in media and advertising services markets.

“I want us to be the model jurisdiction in the world for how we are dealing with digital platforms, social media platforms,” Prime Minister  told reporters in Melbourne.

The code will cover how advertising revenue is shared, how media content is accessed and presented, and will ensure that media businesses are given forewarning about changes to algorithms that determine how content is ranked online.

The Coalition has also announced a staged process beginning next year that will reform media regulation to ensure a level playing field between online and traditional media players. A review of privacy laws will also be undertaken to ensure ensuring privacy settings “empower consumers, protect their data and best serve the Australian economy”.

Morrison said the review followed the government’s commitment in the 2019-20 budget to increase penalties and introduce a binding online privacy code.

Australia’s government said technology companies would need to agree to the new rules by November 2020 or it will impose them.“The companies are on notice. The government is not messing around. We will not hesitate to act,” Australian Treasurer Josh Frydenberg told reporters.

Google and Facebook both said they support greater competition and will work closely with the ACCC. Google and Facebook have opposed tighter regulation, while traditional media owners, including Rupert Murdoch’s News Corp, have backed reform .Australia has for months signaled its intentions to get tough on the technology behemoths.