Mason Sier Turnbull franchising Code update
It has been widely reported that the Federal Government has accepted most of the recommendations of the Matthews Committee. These are summarised below.
As a consequence Franchisors can expect that the Franchising Code of Conduct and the unconscionable conduct provisions of the Trade Practices Act ("the TPA") will be amended.
In our discussions with the Office of Small Business we have been advised that these amendments are unlikely to take effect until the next financial year. We are monitoring the publication of the proposed amendments to the Code and the TPA and, once the precise nature of the changes is known, we will conduct an information seminar for Franchisors to outline, discuss and examine the proposed amendments and provide tips and guidance as to how Franchisors will need to amend their Disclosure Document and methods of doing business.
The major changes to disclosure obligations in the Code anticipated as a result of the Federal Government's acceptance of the Mathews Committee recommendations are as follows:
1. Franchisors will be required to provide Franchisees at the time they give the Disclosure Document, a copy of the Mason Sier Turnbull , franchise lawyers. 03.10.2007
FCA Member
Contact Mason Sier Turnbull
315 Ferntree Gully Road
Mount Waverley
VIC 3149
Tel: +613 8540 0287
Fax: +613 8540 0202
