The Coalition's planned law on price signalling is unlikely to catch statements like those made by bank chief executives in recent weeks, the Opposition's competition policy spokesman confirmed.The Opposition has repeatedly said its price signalling legislation is aimed at increasing competition in the banking industry.Bruce Billson told the Financial Review at the weekend that bank CEOs' conduct would probably not be caught because CEOs had become "careful in their language and conduct". But, he said, the bill was worthwhile because price signalling extended much further than the statements by bank CEOs.Billson told Banking Day yesterday that the bill was not yet finalised but would probably outlaw statements with the "effect or purpose" of limiting competition. The Opposition aimed to ensure that the bill did not limit discussion of bank interest rates, he added.Competition policy experts have questioned the ability of any anti price-signalling law to sensibly limit competitors' public statements. Competition lawyer Brent Fisse told Banking Day last week that public talk about prices could be ascribed to many different motives. A court would find it impossible to determine what effect particular words were intended to have and would not be able to determine what effect they actually did have.