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ARTICLE · 18 MARCH 2010

Commonwealth Unfair Contract Terms Legislation

Gadens Lawyers
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A discussion of the new Trade Practices Amendment (Australia Consumer Law) Bill 2009 which has been passed and is awaiting assent and the Trade Practices Amendment (Australian Consumer Law) Bill which has been introduced to the lower house.

AustraliaCorporate/Commercial Law
Elise Ivory
Elise Ivory

Just when you thought you had all the regulation you could handle, the Trade Practices Amendment (Australia Consumer Law) Bill 2009 has been passed and is awaiting assent and the Trade Practices Amendment (Australian Consumer Law) Bill (No.2) 2010 has been introduced to the lower house.

Trade Practices Amendment (Australia Consumer Law) Bill 2009 (Bill No.1)

Among other things, Bill No.1 amends the Trade Practices Act 1974 (TPA) and Australian Securities and Investment Commission Act 2001 (ASIC Act) to prohibit unfair contract terms in consumer contracts. Bill No. 1 may commence as early as 1 July 2010.

Key provisions

Aside from the introduction of unfair contract term provisions, the key features of Bill No.1 include the:

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