On 27 June 2010, the Australian Securities and Investments Commission (ASIC), released a consultation paper on new laws regulating mortgage early exit fees which are unconscionable or unfair.
This consultation closed on Monday, 9 August 2010.
View the consultation paper on the ASIC website.
On 14 June 2010, the New Zealand Ministry of Consumer Affairs released for public consultation a discussion document entitled Consumer Law Reform – A Discussion Paper. The discussion paper sets out the findings of a review undertaken by the Ministry of Consumer Affairs of seven consumer laws that draws on Australia's consumer law reforms.
The discussion paper puts forward proposals to modernise some aspects of New Zealand's consumer law, as well as proposals aimed at enhancing the operation and overall effectiveness of current New Zealand consumer laws.
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The Ministerial Council on Consumer Affairs (MCCA) held its twenty-third meeting in Perth, Western Australia today. MCCA comprises Commonwealth, State, Territory and New Zealand Ministers responsible for fair trading, consumer protection laws, trade measurement and credit laws.
On 18 March 2010, the Government referred the Trade Practices Amendment (Australian Consumer Law) Bill (No. 2) 2010 to the Senate Economics Legislation Committee for inquiry.
This consultation closed on 16 April 2010 and the Committee reported on 21 May 2010.
The Treasury has made a submission to the Inquiry (Submission No. 46).
For more information on the Inquiry, including submissions received by the Committee, visit www.aph.gov.au.
On 17 March 2010, the Minister for Financial Services, Superannuation and Corporate Law, the Hon Chris Bowen MP, released a consultative paper on options for dealing with unfair terms in insurance contracts.
This consultation closed on Friday, 30 April 2010.
View the options paper on the Treasury website.
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The Ministerial Council on Consumer Affairs (MCCA) held its twenty-second meeting in Perth, Western Australia today. MCCA comprises Commonwealth, State, Territory and New Zealand Ministers responsible for fair trading, consumer protection laws, trade measurement and credit laws.
On 16 November 2009, the Standing Committee of Officials of Consumer Affairs released consultation regulatory impact statements (RIS) on reforms based on best practice in State and Territory consumer protection laws, and a new national product safety regime.
This consultation closed on 27 November 2009.
View the RISs and submissions at www.treasury.gov.au.
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The Ministerial Council on Consumer Affairs (MCCA) held its twentieth meeting in Hobart today. MCCA comprises Commonwealth, State, Territory and New Zealand Ministers responsible for fair trading, consumer protection laws, trade measurement and credit laws.
On 26 July 2009, the Minister for Competition Policy and Consumer Affairs, the Hon Dr Craig Emerson MP, released an issues paper for the CCAAC Review of Statutory Implied Conditions and Warranties.
This consultation closed on 24 August 2009.
View the issues paper and submissions on the Treasury website.
On 25 June 2009, the Senate referred the Trade Practices Amendment (Australian Consumer Law) Bill 2009 to the Senate Standing Committee on Economics for inquiry.
This consultation closed on 31 July 2009 and the Committee reported on 7 September 2009.
For more information on the Inquiry, visit www.aph.gov.au.