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Overview

In November 2016, the Treasury Legislation Amendment (Small Business and Unfair Contract Terms) Act 2015 (the Act) took effect to extend the unfair contract term (UCT) protections in the Australian Consumer Law (incorporated as Schedule 2 of the Competition and Consumer Act 2010) and the Australian Securities and Investments Commission Act 2001 to small business contracts. The ACL provisions address UCTs for goods, services and land, and the ASIC Act provisions address UCTs for financial products and services. 

During the passage of the Act through Parliament in late 2015, the Government agreed to undertake a review of the extension to small business two years after its commencement. The legislation commenced in November 2016.  

This discussion paper is seeking feedback from stakeholders on the impact of the extension of UCT protections to small business and whether the objective set for the original reform has been met. It is also seeking views about whether any changes are required to improve the current framework.

Stakeholders can either submit a detailed response or use the comment box below to share their views and experience.