The Government today announced a package of integrated reforms to the Trade Practices Act to give greater protection to small business and consumers against unscrupulous traders.
"These reforms give small business and consumers a fairer go in the marketplace," the Minister for Financial Services & Regulation, Joe Hockey, said today.
The Government intends to change the Trade Practices Act so that small business can use State laws to achieve easy redress where unconscionable conduct has taken place in retail shop leasing arrangements.
The Trade Practices Act needs to be amended so that the State legislation can operate alongside the Commonwealth legislation without being constitutionally inconsistent.
"This Government is committed to making sure small business has every opportunity to establish profitable and thriving enterprises.
"We also want to see consumers adequately protected from unfair market practices."
The Government will amend the Trade Practices Act to make it easier for small business and consumers to access the remedies under the Act. The amendments, for example, will increase the time in which legal proceedings can be started and the courts will be better able to provide appropriate remedies.
The Trade Practices Act will also be amended to give the country's consumer watchdog, the Australian Competition and Consumer Commission extra powers to enforce the Act.
"The changes reflect my philosophy of consumer sovereignty, that is, protecting consumers while promoting the availability of the choice, information and redress necessary to ensure that consumers can make their own decisions."