Out with the old, in with the new - Australia's new Franchising Code of Conduct
Australia's updated, mandatory Franchising Code of Conduct took effect from 1 January 2015.The Code increases the scope of the regulator's powers and introduces new rules and penalties for franchisees
Australia's updated, mandatory Franchising Code of Conduct took effect from 1 January 2015.
The Code increases the scope of the regulator's powers and introduces new rules and penalties for franchisees and franchisors. The most notable changes include the statutory codification of a duty of good faith, additional disclosure obligations and a prohibition on franchisors from imposing unreasonable significant unforeseen capital expenditure on franchisees.
We first reported on the proposed changes in 2013 - please click here to read our earlier article.
The Code increases the scope of the regulator's powers and introduces new rules and penalties for franchisees and franchisors. The most notable changes include the statutory codification of a duty of good faith, additional disclosure obligations and a prohibition on franchisors from imposing unreasonable significant unforeseen capital expenditure on franchisees.
We first reported on the proposed changes in 2013 - please click here to read our earlier article.