Proposed reforms to the unfair contract terms regime
On 9 February 2022, the proposed reforms to the unfair contract terms regime in exposure draft Schedule 1 to the Treasury Laws Amendment (Measures for a later sitting) Bill 2021 (Cth) were introduced to Parliament by way of the Schedule 4 to the Treasury Laws Amendment (Enhancing Tax Integrity and Supporting Business Investment) Bill 2022 (Cth). The proposed reforms will have the effect of strengthening the protections around unfair terms in standard form contracts for consumers and small businesses. While the proposed reforms introduced to Parliament were substantially similar to those set out in the exposure draft, the Legal update, Proposed reforms to the unfair contract terms regime introduced in Parliament considers the key changes.
For a tracker which monitors the progress of key developments in the proposed legislation, see Legislation Tracker, Unfair contract terms regime reforms.
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