All businesses selling goods or services to consumers in Australia are required to comply with Competition and Consumer Act 2010 (Cth) (previously the Trade Practices Act), the Australian Consumer Law and other fair trading and consumer protection laws.
The scope of competition and consumer laws are continually expanding to regulate new business practices, technologies and emerging industries. For example, when the unfair contracts regime commenced on 12 November 2016, it extended the coverage of consumer protection laws to up to 95% of contracts with small businesses.
Businesses need to ensure that they do not contravene competition and consumer laws as the penalties can be severe and result in reputational damage. Businesses also need to understand their rights and obligations when dealing with the Australian Competition and Consumer Commission.