On 1 July 2010, protections for consumers against unfair contract terms (UCTs) in standard form contracts were introduced into the Trade Practices Act 1974 (now contained in the Australian Consumer Law, which is Schedule 2 to the Competition and Consumer Act 2010) and the Australian Securities and Investments Commission Act 2001.
In November 2016, the UCT protections were extended to small business contracts. Two years later, the Government undertook a review of these new protections for small business contracts (UCT Review).
This consultation seeks stakeholder feedback on a range of policy options to address the issues identified by the UCT Review. It also seeks views on whether any enhanced UCT protections for small business contracts should also be extended to consumer and insurance contracts to ensure consistency in the operation of the protections.
We are seeking submissions from a wide range of interested parties from small, medium and large businesses through to individual consumers.