OCBA - What are the benefits for businesses?

What are the benefits for businesses?

One law
Businesses will benefit from one law applying to consumer transactions across Australia.

Businesses that trade in more than one State or Territory will only have to comply with one law.
Regulatory complexity is often a deterrent for businesses when they consider expanding. The ACL will remove a barrier to interstate expansion of businesses.

Easy to understand
The ACL will provide businesses with a law that is easy to understand.

Updated terminology, when compared to the archaic provisions in existing laws, can be more easily understood by businesses.
A law that is easy to understand will result in fewer disputes, as businesses and consumers can have a common understanding of the ACL.

Better enforcement
Businesses will benefit from better enforcement of the ACL.

Even when State and Territory laws are similar, differences in enforcement approaches can lead to additional compliance costs for businesses.
Improved co-operation between consumer agencies applying the ACL will give businesses comfort that it will be applied consistently across Australia.

Clear obligations
Business will benefit from clear obligations under the ACL.

The existing law imposes different obligations on businesses depending upon where in Australia a particular business, or a particular part of a business is located.
The ACL will impose the same obligations on businesses across Australia, making compliance easier for businesses that trade in more than one jurisdiction.

It is essential that businesses and legal practitioners familiarise themselves with the new legislation to ensure compliance from 1 January 2011. The following video has been produced to assist you and your employees to understand what aspects of the new law apply to you, and to help you be prepared for the changes ahead.

A brief video is available which provides an overview of key elements of the new law.

For more information and detailed guidance material, go to www.consumerlaw.gov.au

Related information

Free guides to the Australian Consumer Law

Avoiding unfair business practices: a guide for businesses and legal practitioners(2 MB PDF file)
Consumer guarantees: a guide for businesses and legal practitioners (2.7 MB PDF file)
Product safety: a guide for businesses and legal practitioners (2.3 MB PDF file)
Sales practices: a guide for businesses and legal practitioners (2.4 MB PDF file)
Compliance and enforcement: how regulators enforce the Australian Consumer Law (1.7 MB PDF file)
A guide to the unfair contract terms law(1.8 MB PDF file)

Order printed copies of these guides, click here.

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