Business Law: 23 March 2019
A number of changes have been made to the Trade Practices Act 1974 (Cth) (TPA) as Australian Consumer Law (ACL) reforms have been progressively implemented, with the final portion commencing on 1 January 2011. In addition to these changes the TPA has been renamed the Competition and Consumer Act 2010 (Cth) (CCA).This is the 9th and final part in a series of blogs summarising the changes and the implications for businesses operating in Australia.The ACCC's new range of enforcement powersThe ACCC now has power to:
Breaches of some provisions of the ACL may result in a pecuniary penalty of up to $1.1 million for corporations and $220,000 for individuals. The ACL applies nationally and in all States and Territories, and to all Australian businesses. For transactions that occurred up to 31 December 2010, the previous national, State and Territory consumer laws will continue to apply.