Dec 14 (Reuters) - Flight Centre Travel Group Ltd FLT.AX
* 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 Source text for Eikon: ID:nASX2x17zj Further company coverage: FLT.AX