Australian Consumer Law changes – Competition and Consumer Act 2010

Introduction

The Australian Consumer Law ('the ACL') resulted from extensive government consultation and review of the existing legislative framework. This review was undertaken with a view to improving uniformity and consistency between Australian jurisdictions, and to ensure that customers are adequately protected when entering into a contract with a business for the supply of a good or service.

Broadly speaking, the primary objectives of the ACL are to:

• Introduce new civil pecuniary penalties for contravention of certain consumer protection provisions
• Prohibit unfair contract terms in standard form consumer contracts
• Introduce new enforcement powers for the Australian Competition and Consumer Commission ('ACCC') and the Australian Securities and Investments Commission ('ASIC').