The Australian Treasury has recently released a consultation paper on proposed enhancements to the unfair contract term protections in the Australian Consumer Law.  This consultation paper invites interested parties to provide feedback on options to enhance the unfair contract term protections for small business, consumers and insurance contracts.  Such options include making unfair contract terms illegal and attaching penalties, strengthening powers of regulators, and changing the threshold for what constitutes a small business.  Please see https://consult.treasury.gov.au/consumer-and-corporations-policy-division/enhancements-to-unfair-contract-term-protections/ for further details.  If you are interested in making a submission, the closing date for such submissions is 16 March 2020.

If you have any questions on unfair contract terms and how they apply to your business please get in touch with one of the Sierra Legal team – https://www.sierralegal.com.au/team.