A new prohibition against ‘unconscionable conduct’ in trade is one of a number of changes to the Fair Trading Act 1986 that come into force from 16 August 2022. The new prohibition may have wide-ranging implications for many businesses, and could potentially lead to prolonged debate in the courts as to the types of conduct that should be considered ‘unconscionable’.
In The Big Picture: Understanding the new prohibition on ‘unconscionable conduct’, Bell Gully’s Consumer, Regulatory and Compliance (CRC) team take a look at some of the key principles that are likely to govern the new prohibition and draw on recent guidance from overseas. The CRC team also discuss regulatory overlap with existing regimes, as well as consequences of breach.
Read more below.
Disclaimer: This publication is necessarily brief and general in nature. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.
