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On 28 September 2022, the Government introduced the Treasury Laws Amendment (More Competition, Better Prices) Bill 2022 ("Bill"). If passed, the Bill will:
So as to enable industry to make any necessary changes to applicable standard form contracts, the amended UCT regime will commence on the day after the period of 12 months after the Bill receives Royal Assent and will apply to standard form contracts that are made or renewed at or after the commencement date.
The amended penalty regime will commence the day after Royal Assent and will apply to offences committed, or contraventions, acts or omissions that occur from that date.
This alert provides an overview of the key changes that are proposed to be introduced and highlights important considerations for businesses.
Click here to access full alert.
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