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12 Nov 2020 Treasury

Enhancements to Unfair Contract Term Protections - Regulation Impact Statement for Decision

On 6 November 2020, Commonwealth and state and territory consumer affairs ministers agreed to strengthen the existing unfair contract term protections in the Australian Consumer Law.

These reforms will help reduce the prevalence of unfair contract terms in standard form contracts, and improve consumer and small business confidence when entering into contracts.

Further detail is outlined in the Legislative and Governance Forum on Consumer Affairs (CAF) meeting communique and in the Decision Regulation Impact Statement.

The Treasury will now develop exposure draft legislation providing a further opportunity for stakeholders to comment on the reforms.

Read more here.


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