On August 16, 2021, the Fair Trading Amendment Bill has received the Royal Assent. The Fair Trading Amendment Act 2021 introduces significant changes to the Fair Trading Act 1986.


Key highlights:

  • Clause 6 of the Act inserts a new provisions relating to unfair conduct.
  • New Provision prohibits conduct in trade that is unconscionable.
  • Provision outlines the factors that a court may have regard to when assessing whether conduct is unconscionable including (but not limited to):
    • relative bargaining power
    • the extent to which the trader and an affected person acted in good faith
    • whether unfair pressure or undue influence was used
    • whether an affected person was able to understand documents provided by the trader.

    Where a contract is entered into between a trader and an affected person, the court may also consider (among other things):

    • any inducement to enter into the contract
    • whether the affected person obtained legal advice or other professional advice
    • the terms of the contract
    • whether the terms of the contract allow the affected person to reasonably meet their obligations
    • the length of time the affected person has to remedy any breach.
  • Clause 7 extends the prohibition to a newly defined “small trade contract” – a contract between parties in trade that does not form part of a trading relationship that exceeds an annual value of $250,000 for goods or services, or interest in land, when the contract is first entered into.

For more details, refer HERE

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