Australian Consumer Law penalties to increase
A Bill has been introduced into the House of Representatives amending the penalties for anti-competitive practices under the Australian Consumer Law.
Due to take effect from July 2018, the new maximum penalty for a body corporate will be:
- $10 million;
- or if the court can determine the benefit from the offence, act or omission, three times the value of the benefit; or
- if the court cannot determine the benefit, 10% of the annual turnover of the body corporate.
The current maximum penalty for a body corporate under the ACL is $1.1 million
The maximum penalty for a person other than a body corporate will be $500,000. Currently the maximum penalty for a person other than a body corporate is $220,000.
For further information click on this link to the ACCC website.
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william mulholland + co best (small) commercial law firm 2016
AI Announces winner of Best Commercial Law Firm Australia.
The ACCC launches its first unfair contracts court action to protect small business. The action has been taken against JJ Richards one of the biggest players in the waste management industry. For more information about your rights under the new Unfair Contracts Law contact us and read more about this landmark case here.
Millions of contracts affected by New Unfair Contracts law commencing on 12 November 2016
New unfair contracts law has been extended to standard form contracts and small business where there has been no negotiation and one of the parties has less than 20 employees. If you run a small business or are looking for advice on the new regime contact us for a free initial consultation or click here to visit the ACCC website for further information.
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