The Tasmanian Ports case (ACCC v Tasmanian Ports Corporation Pty Ltd [2021] FCA 482) was the ACCC's first case under the revised Section 46 provision. As the case was resolved by consent order, the court did not have the opportunity to give any guidance on how 'substantial lessening of competition' will be interpreted under the new section 46.

Based on existing Australian case law, what are the legal tests the court would have been likely to apply to determine whether the conduct of Tasmanian Ports was likely to 'substantial lessening of competition'?