Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

I will just indicate quickly the position of the government. We do not support this amendment. We have proposed in the legislation a six-month transition period. There will be guidance and assistance from the ACCC and from ASIC and there will be a 12-month 'light touch' implementation of the regulatory change.

Furthermore, in terms of providing some more detail on how the ACCC will work with industry once the protections are in effect, the ACCC will work with business and industry groups to identify problematic contract terms and encourage compliance. This approach was taken for the consumer protections when they were first introduced and led to most businesses choosing to delete or amend problematic terms.

Where a business does not fully cooperate with the ACCC or comply with the law, further action such as through informal and administrative means or court action may be pursued privately or by the ACCC. For instance, since the introduction of the consumer protections the ACCC has conducted in-depth investigations into 15 matters and instituted court proceedings against four businesses.