Newsflash: Trade Practices Act – Australian Consumer Law Reforms in Effect Tomorrow

Introduction

In a wave of recent amendments to the Trade Practices Act 1974, the first of three tranches of Australian Consumer Law reforms comes into effect tomorrow and the second tranche was passed by Parliament on Friday.

These Australian Consumer Law reforms harmonise and streamline consumer laws in Australia and have been heralded by the Government as the most significant changes to the Trade Practices Ac since its introduction in 1974.

Tranche 1

The Trade Practices Amendment (Australian Consumer Law) Act (No 1) 2010 contains the first tranche of reforms, namely the national unfair contract terms law, that will come into effect tomorrow. The following is a reminder of our April Newsflash in respect of the unfair contract terms law.