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Legal Forums » Franchising Law Discussion Forum » Important changes to Australian franchise laws
Started Dec 22 2012, 19:04
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Dec 22 2012, 19:04
The Australian Competition and Consumer Commission (ACCC) has announced changes to the Franchising Code of Conduct that will affect all franchisors and franchisees.
These important changes officially become law on March 1 2008, so make sure you understand and implement them before then.
Here is a summary of the major changes:
• A franchisor must give franchisees a copy of the franchising code, a disclosure document in the required form and a copy of the franchise agreement in the form that it is to be executed at least 14 days before the franchisee enters into any agreements with or pays any money to the franchisor
• The franchisor must give the franchisee any agreements that franchisee is required to enter into under the franchise agreement (such as a lease or a confidentiality agreement) at least 14 days before the franchise agreement is signed
• The franchisor must disclose any relevant facts to the franchisee in writing within 14 days of becoming aware of it
• Within four months after the end of a financial year, the franchisor must create a disclosure document for the franchisee in accordance with the code
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