Exposure draft of proposed reforms to the unfair contract terms regime released
Practical Law Australia’s Article, Exposure draft of proposed reforms to the unfair contract terms regime released considers the release of the exposure draft of the Treasury Laws Amendment (Measures for a later sitting) Bill 2021 (TLA Bill) by the Australian Government Treasury on 23 August 2021. The TLA Bill proposes to introduce a variety of reforms which enhance the protections for consumers and small businesses under the unfair contract terms regime (UCT) by:
- Strengthening the remedies and enforcement of the regime.
- Expanding the class of contracts that are covered by the regime.
- Clarifying and strengthening UCT provisions generally.
The article summarises the key amendments proposed by the TLA Bill and how they compare to the current UCT framework, and provides additional background on how the UCT regime has evolved since its commencement.
The federal government is seeking stakeholder views on the TLA Bill and its accompanying explanatory materials, with submissions being accepted until 20 September 2021.
For Practical Law's related content on the UCT regime, see for example:
- Practice note, Unfair contract terms and protections for small businesses.
- Practice note, Unfair or unjust contract claims.
Practical Law Australia’s expert legal writers have practical expertise gained from some of the country's leading law firms and corporate legal departments, including Ashurst, Baker & McKenzie, Gilbert + Tobin, Herbert Smith Freehills, the Australian Broadcasting Corporation (ABC) and more. They understand the pressure to deliver timely and cost effective legal advice, which is why Practical Law’s fully maintained practice notes, precedents, drafting notes and checklists offer clear and concise know-how with a practical perspective.
For more information on Practical Law Australia’s legal writing team, visit legal.thomsonreuters.com.au/practical-law-team