Dec 14 (Reuters) - Flight Centre Travel Group Ltd (FLT)
- Flight centre updates market on competiton law test case
- High Court of Australia overturned unanimous full federal court judgement that was delivered in FLT's favour in july 2015
- High court's majority decision establishes new law on application of competition law to agents
- FLT and ACCC will return to full Federal Court next year for an appeal about whether original $11 million penalty was excessive or inadequate
- High court did not award ACCC its costs for full Federal Court or High Court hearings
- Does not currently believe there are any further implications for business from the judgement