Businesses should familiarise themselves with the new Australian Consumer Law (ACL) reforms, with the first part of the reforms coming into effect on 15 April 2010.
The laws give the Australian Competition and Consumer Commission (ACCC) new enforcement powers to protect consumers, including the ability to seek or issue:
- civil monetary penalties
- banning orders
- substantiation notices
- infringement notices
- refunds for consumers
- public warnings.
Under the new laws, the ACCC can seek financial penalties of up to $1.1 million for corporations and $220,000 for individuals for unconscionable conduct, pyramid selling and sections of the law dealing with false or misleading conduct.
The second part of the ACL reforms, dealing with unfair contract terms, will come into effect on 1 July 2010. Further amendments to the ACL are also expected later this year.
For more information visit the Australian Competition & Consumer Commission website or contact the ACCC's Infocentre on 1300 302 502.
