The Australian Consumer Law (ACL) has been amended to increase the maximum penalties that can be handed down for breaching the ACL.
The substantial increase aligns those maximum penalties with the current maximum penalties for contravening the competition provisions under the Competition and Consumer Act 2010.
|Previous Maximum Penalties||New Maximum Penalties|
|Corporations:||$1.1 million||Corporations:||the greater of:|
A further tranche of reforms are currently before Parliament in the Treasury Laws Amendment (Australian Consumer Law Review) Bill 2018. Proposed amendments include extending protections for unconscionable conduct to publicly listed companies and extending the powers of the ACCC and ASIC to investigate unfair contract terms.