ACCC to receive strengthened powers to enforce the Franchising Code
The ACCC has issued an urgent release to ensure that franchisees and franchisors act in good faith in their dealings with each other, or the ACCC will intervene.
Under the amended legislation, penalties will be increased up to $51,000 for any breaches of the Franchising Code. A key focus of the changes is to improve disclosure by including easy to understand information for prospective franchisees.
The new code will take effect from 1 January 2015. More information on proposed amendments to the Franchising Code is available on Treasury’s website.