Bill
Treasury Laws Amendment (2018 Measures No. 3) Bill 2018
passed, as at 2018-08-31. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2018-02-15
- second reading — 2018-02-15
- second reading — 2018-06-27
- second reading — 2018-06-27
- third reading — 2018-06-27
- introduced — 2018-06-27
- second reading — 2018-06-27
- second reading — 2018-08-23
- second reading — 2018-08-23
- third reading — 2018-08-23
- passed — 2018-08-23
- royal assent — 2018-08-31
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2018-02-15.
This bill would raise the maximum financial penalties for breaches of the Australian Consumer Law.
It would align consumer law penalties with the higher competition law penalties by introducing new maximums based on a fixed amount, three times the benefit gained, or 10 per cent of annual turnover.
The new penalties would apply from the later of 1 July 2018 or the day after the bill receives royal assent, for acts or omissions on or after that date.
- Aligns Australian Consumer Law penalties with competition law penalties under the Competition and Consumer Act.
- Increases the maximum civil pecuniary penalty for a body corporate to the greater of $10 million, three times the benefit gained, or 10 per cent of annual turnover.
- Increases the maximum fine for a person other than a body corporate to $500,000 for both civil contraventions and criminal offences.
Businesses and individuals who may breach Australian Consumer Law provisions will be affected.
Sources
em
billhome
frl act