Unfair contract terms proposed to get tougher

As many of our readers would be aware, the Australian Competition and Consumer Commission (ACCC) has long been advocating for heavier penalties and a widened scope of the unfair contract provisions of the Australian Consumer Law (ACL) which forms Schedule 2 of the Competition and Consumer Act 2010 (Cth).

This now looks increasingly likely to become a reality with the introduction of the Treasury Laws Amendment (More Competition, Better Prices) Bill 2022 (Bill) to the Australian Parliament on 28 September 2022. Once passed, the amendments sought will significantly increase the risks associated with unfair terms across an expanded range of consumer and business-to-business contracts.