Competition and Consumer Point-in-Time Service Updates

The Competition and Consumer Point-in-Time Service has been updated to include the Treasury Laws Amendment (Professional Standards Schemes No. 4) Regulations 2024 (Cth) and the Competition and Consumer (Industry Codes—Franchising) Regulations 2024 (Cth). 

Treasury Laws Amendment (Professional Standards Schemes No. 4) Regulations 2024 

The Regulations prescribe the Australian Computer Society Incorporated Professional Standards Scheme in the Competition and Consumer Regulations 2010 (Cth). The earlier iteration of the scheme was only able to remain in force for 6 years pursuant to section 32 of the Professional Standards Act 1994 (NSW). The New South Wales Minister for Industry and Trade, Minister Anoulack Chanthivong has approved the remaking of a new scheme to allow members of the Australian Computer Society to continue to retain a cap on civil liability in relation to misleading and deceptive conduct. 

Competition and Consumer (Industry Codes—Franchising) Regulations 2024  

These principal Regulations repeal and remake the Competition and Consumer (Industry Codes–Franchising) Regulation 2014 (Cth). The Regulations prescribe a mandatory industry code (set out in Chapter 2–Franchising Code of Conduct (the Code)), regulating the conduct between franchisors and franchisees (actual and prospective). The purpose of the Code is to regulate the conduct of participants in franchising, in particular to address the imbalance of power between franchisors and franchisees and prospective franchisees, improve standards of franchising conduct and practice and provide a fair and equitable dispute resolution procedure for participants in franchising.

These amendments have been updated in the Point-in-Time Competition and Consumer Service current to 9 December 2024. (NB: Subscription required).

If you are not already a subscriber to this or other Point-in-Time Services then please contact us to find out more or to take a free trial.