The Minister for Financial Services & Regulation, Joe Hockey, today released the final version of the Government's policy for online consumer protection. This follows an exposure draft released for public comment in May 1999.
"This policy framework details the Government's objective of establishing a world-class consumer protection environment in Australia," the Minister said.
"It translates best practice in consumer protection and industry self-regulation to the online marketplace. The environment envisaged in this policy framework would improve consumer confidence online.
"This will result in Australia gaining a reputation for excellence in consumer protection that will benefit Australian traders."
The Policy Framework is entitled A Policy Framework for Consumer Protection in Electronic Commerce.
"The exposure draft of this policy framework was made available for public comment and received considerable support from consumer and business representatives who endorsed the role of Government in guiding industry self-regulation in this area and the importance of consumers, business and Government working together.
"The policy framework reflects 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."
Many of the initiatives in the policy framework are already under way including the development of a model code of conduct for traders on the Internet and the set up of an expert group to advise the Minister on electronic commerce which was announced on 23 September 1999.
The Government is also looking to international collaboration and to continue consumer education measures.
The policy framework is available on the Internet at http://www.treasury.gov.au/ecommerce