Understanding the Competitions and Consumer Act
The revised and updated competitions and consumer act seeks to protect the interests of Australians from unfair trading practices. State and federal law work in unison to protect the rights of each individual who engages in commercial activities. In addition to industry codes of practice these laws ensures that fairness is established between business and customer and information on the customers rights is readily accessible.
The Law states that each individuals must be informed of their responsibilities and their rights based on the fair trading laws.
The Competitions and Consumer act of 2010 as stated in Federal Law ensures that the market place is level playing field for both customers and businesses.
The competitions and consumer Act seeks to implement safeguards for all activities in the marketplace, this means there are laws that deal with wholesalers, suppliers, customers, retailers and competitors. The competitions and consumer acts serves to deal with all unfair practices, industry codes of practise, acquisitions and mergers of companies, product labeling, collective bargaining, product safety, industry regulations such as electricity, telecommunications, gas and airports.
The ACCC, Australian Competition and Consumer Commission was established to promote fair and good business practices in an efficient marketplace. It provides a source where business can readily access information on federal competition, consumer protection and fair trading laws. The entity is directly responsible for the administration of the Competitions and consumer act.
Each territory across Australia has a unique set of laws that deal with fair trading. These laws are called the Fair Trading Act. The act has similar provisions which protect the right of consumers.
Fair trading and State offices will provide information and advice on the rights of your business along with your obligation based on these fair trading laws. If you are still not sure as to how these laws are applicable to your personal situation then you will need the personal legal advice.
The competitions and consumer act is applicable to just about all aspects of business. Areas include, price setting, advertising, transactions which take place between consumers and business. When you comply with the CCA you reduce the risk that you will break the law plus its gives your business and added advantage.
Businesses of all types can benefit from putting in place measures aimed at improving relations with their customers.