Presented by Matthew Rowe of Coleman & Greig
The Federal Government has a raft of alterations to the Trade Practices Act and the Franchising Code of Conduct in store for franchisors in 2010. Join us for our first Franchise Forum of the year for an overview of the likely changes and their impact on your franchising business.
The proposed changes this year to the Trade Practices Act and Franchising Code of Conduct will impact on the drafting of documentation and the conduct of business for the franchising industry. In our first Franchise Forum for 2010 Matthew Rowe will run through the proposed changes in store and the likely impact on franchisors, including:
- Changes to Code and unconscionability provisions
- Penalties of up to $1.1 million for corporations and $220K for individuals engaging in unconscionable conduct or making false or misleading representations
- More comprehensive disclosure obligations regarding end of term provisions
- What are "necessary and desirable behaviours"?
- What is the significance of "good faith"?
- ACCC random audits of Franchisors' compliance with the Code
Matt will highlight the practical implications for Franchisors, which will include:
- Amendments to Franchise Agreements, Disclosure Documents and related documents
- Required changes in practice in relation to renewals of franchises and the need for a form of diary system
- Preparation for ACCC audit
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