Chloe Placzek’s Post

Following the significant changes to the UCT regime which took effect last year, unfair contract terms continue to be an enforcement priority for the ACCC. Michael Nas, Chloe Placzek and I set out in this article what businesses need to know about the regime and, if they are using standard form contracts, steps they should take to comply with the regime

What does the new Unfair Contract Terms Regime mean for your business? With the expansion of the unfair contracts regime in November 2023 to include financial penalties of $50 million or more, businesses should be reviewing their standard form contracts to remove any ‘unfair’ terms. But what does ‘unfair’ mean, and how do you determine if your business is compliant? Our Intellectual Property team breaks down the new penalties and what businesses need to review to ensure they’re compliant. Learn more below, or contact Sarah Gilkes, Sophie Bradshaw or Ben Cameron for more information.

Australia’s unfair contract terms rules have changed: Here’s what you need to know

MCA has introduced amendments to the Companies (Adjudication of Penalties) Rules, 2014 which will come into force from 16th Sept 2024. The key changes are as follows: 1. A new rule, 3A, has been inserted, mandating that all proceedings related to the adjudication of penalties (including the issuance of notices, filing of replies or documents, evidences, holding of hearings, attendance of witnesses, passing of orders, and payment of penalties) must be conducted electronically through the e-adjudication platform developed by the Central Government. 2. If the e-mail address of the person required to receive a notice or summons is not available, the notice will be sent by post to the last known address or the address available in records. The adjudicating officer will preserve a copy of the notice in the electronic record within the e-adjudication platform. If no address is available, the notice will be placed directly on the e-adjudication platform. 3. The existing annexure "Form No. ADJ-Memorandum of Appeal" has been substituted with a new one. 𝐍𝐨𝐭𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐑𝐞𝐟𝐞𝐫𝐞𝐧𝐜𝐞:- https://lnkd.in/gTF4SW6B #MCA #Amendment #Rules #Egazette #Corporate #Penalties #EAdjudication #CorporateLaw #LegalUpdate #EAdjudication #Compliance #MinistryOfCorporateAffairs #DigitalTransformation #LegalReforms #IndiaLaw #RegulationUpdate #GovernmentNotification #BusinessLaw #CompaniesAct #LegalTech #RegulatoryCompliance #Notification #Update #ComplyX #CX

𝐀𝐭𝐭𝐞𝐧𝐭𝐢𝐨𝐧 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬 𝐢𝐧 𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐚! 🔴 Unfair contract terms are now illegal, and the rules have changed. The Treasury Laws Amendment Act 2022 has introduced penalties for unfair terms, impacting standard form contracts for goods, services, or land. 📜 Discover the expanded scope, consequences, and actions to ensure compliance. Read this insightful article by Joanne Jary, Partner, and Kayla Plunkett, Lawyer, at Holding Redlich to learn how to navigate the new landscape. 🛡️ 👉 https://lnkd.in/g6Qdc8Xd #LegalUpdates #BusinessCompliance #AustraliaLaw #ContractTerms #SmallBusiness #LegalChanges #BusinessNews #RegulatoryCompliance #LegalInsights

If you are not up to date with the changes to the unfair contract regime, click below!

Consumers using regulated firms demonstrate a high level of awareness of the protections available to them. ✔️ 89% said they were informed the provider was regulated 🧠 52% reported understanding the overall protections very or reasonably well. Read more in our year three evaluation

When the General Election announcement was made last week, there was a chance that the Digital Markets, Competition and Consumers Bill would disappear as part of the dissolution of Parliament and we would then have to wait and see what the new Government would propose (and when). It is fair to say that this had my colleague Felicity Forward on the edge of her seat, wondering what the fate of the Bill was going to be... As things stand, the Bill was given surprise Royal Assent as part of the wash-up procedure which means that the countdown clock to important changes in consumer (and competition) law regime has started... businesses should pay close attention to the insights Felicity and the Shoosmiths consumer team have published over the last few months to find out what this means for the likes of subscription contracts, fake reviews and drip pricing, as well as what this has in store in terms of the CMA's new enforcement powers. #ConsumerLaw #CommercialLaw #DigitalMarketsCompetitionAndConsumers

From November 2023, significant changes to the 'unfair contract terms' (UCT) regime have come into effect, reshaping the landscape for businesses engaging in standard form contracts. Read this comprehensive overview by Partner, Michael Stannard to learn about the expanded scope, penalties for breaches, and how businesses, especially in the property industry, can navigate compliance.   Ensure your standard form contracts align with the updated regulations to avoid substantial penalties. For assistance, contact us at [email protected]. https://lnkd.in/gKpRWKdi

🔒 Protecting Your Business: Understanding Restraint of Trade Agreements. ✒ you aware of the power of a well-crafted restraint of trade agreement in safeguarding your business interests? In the fast-paced world of commerce, it's vital to ensure your company's trade secrets and confidential information remain secure, especially when employees move on to new opportunities. ✒ Imagine this scenario: An employee breaches a restraint agreement, putting your company's sensitive data at risk. What recourse do you have? Fear not! You can take action by seeking an order from the court to enforce the terms of the restraint. This legal tool, known as an interdict, empowers you to prevent the employee from engaging in activities that violate the agreement. But here's the catch: During the legal proceedings, the burden may fall on the employee to demonstrate the unreasonableness of the restraint. Factors such as the duration and geographic scope of the agreement come into play, along with assessing whether your business truly has a protectable interest worth defending. ✒ Here's the bottom line: While a restraint of trade agreement can be a powerful shield for your business, it must be both reasonable and designed to protect legitimate interests. Otherwise, it risks being deemed unenforceable. So, what makes a restraint enforceable? Consider these five crucial factors: 🔑 Existence of a protectable interest 🔑 Breach of said protectable interest 🔑 Balancing the interests of both parties 🔑 Taking into account public interest 🔑 Ensuring the restraint is no more restrictive than necessary ✒ In essence, the enforcement of a restraint of trade hinges on a comprehensive evaluation of these factors, guided by a value judgment exercised by the court. Don't leave your business vulnerable. Craft your restraint agreements with care, ensuring they strike the right balance between protection and reasonableness. Your business's future may depend on it. #BusinessProtection #RestraintOfTrade #LegalInsights #ProtectYourInterests #BusinessSecurity