I respectfully disagree about 'only...read the Act'. The Act describes what the ACCC should be doing by design, but control of appointments (the head) and budgets reveals the agenda any individual government has regarding oversight and consumer protection. I'll allow that budgets have been chunky in some years and have been rising, but many like myself contend they remain under resourced for the job.
I admit to having more than a fair share of cynicism, but one just need look at the balance of ACCC leadership today. How many are from the corporate-business world versus what could be construed as a 'Choice minded' world?
I did a random unscientific google to get a feel for some of the previous membership, and they seemed weighted toward people concerned with consumer protection and governmental decision making (ie 'Choice minded'). Cynicism affirmed!