From today, 1 October 2015, the Personal Property Securities Act will no longer operate to automatically give rise to a security interest in serialised goods (e.g. motor vehicles, motorhomes, aircrafts etc.) that are leased or bailed for a term of less than 12 months.
This is in contrast to the now outdated law which provided that leases or bailments of serialised goods for a period of more than 90 days, automatically created a security interest in the goods in favour of the lessor or the bailor. This meant that a lessor or bailor had to register a security interest on the Personal Property Securities Register (Register) to protect their interest in the goods.
It is an integral part of doing business to have the following documents in place:
Terms of trade
Guarantee and Indemnity
These documents generally provide a level of security for a business when providing goods or services on credit terms. This security is usually provided through the Personal Property Securities regime and/or by requiring a Guarantee and Indemnity from the directors of the customer.
Protection of small businesses against unfair contract terms moved one step closer yesterday following the support by the Senate of the Treasury Legislation Amendment (Small Business and Unfair Contract Terms) Bill 2015.
In 2013 six different Samsung products were recalled due to the discovery of an electrical fault that could lead to the products catching fire.
As a consequence of the recall, Samsung was obliged, under the Australian Consumer Law (ACL), to replace the recalled products or provide a full refund.
There have been a number of legal developments in the small business sector which should be welcomed as wins for small business operators. This alert provides a summary of three of those developments that are particularly relevant following the Australian Competition and Consumer Commission’s release of its Small Business in Focus report for the six months to June 2015.
Schools collect and receive personal and sensitive information on a daily basis. What are the legal requirements for managing and using this data? Much of the personal and sensitive information collected by schools is, of course, essential to their day-to-day running.
Contrary to common belief, local councils and officers acting on their behalf are subject to the provisions of the Competition & Consumer Act 2010 (Cth), just like any other entity engaged in trade or commerce.
Following on from an advisory report into the Telecommunications (Interception and Access) Amendment (Data Retention) Bill 2014 (Cth) (Data Retention Bill), released on 27 February this year, the Federal Government has now accepted recommendations to develop a mandatory data breach notification scheme.
The Government released draft legislation yesterday in relation to extending the unfair contract term protections to small businesses.
Once the legislation has been passed, a court will have the ability to declare an unfair term in a standard form small business contract void. Under the proposed legislation, a contract will be a small business contract if:
The Privacy Act 1988 (Cth) (Privacy Act) requires organisations to take “reasonable steps” to ensure that all Personal Information held is secure and protected from misuse, interference, loss and disclosure.
Sham charities established to take advantage of generous donors seeking to help victims of Cyclone Pam in Vanuatu have come to the attention of the Australian Charities and Not-for-profits Commission (ACNC)
Throughout the 2014 calendar year, the ACCC’s consumer law activities involved:
- Instigating Federal Court proceedings in relation to 20 consumer protection matters and 8 competition matters;
- Accepting 14 consumer protection undertakings from businesses; and
- Issuing 15 infringement notices.
The ACNC have announced that up to 1,400 ACNC registered charities face deregistration unless they lodge their Annual Information Statement (AIS) by 30 March 2015. Each of these charities has failed to lodge their AIS for 2 consecutive years. If deregistered, they will no longer be eligible for charity tax concessions including income tax, fringe benefit tax and GST.
The ACCC is continuing to crack down on unfair contract terms and has instituted Federal Court proceedings against CLA Trading Pty Ltd trading as “Europcar Australia” (Europcar) that could see refunds to consumers who have paid Europcar money pursuant to the specific contract terms that are currently under the scrutiny of the Court.
In today’s retail environment, businesses regularly offer customers extended warranties for an additional price. When offering an extended warranty, it is crucial for the business to ensure that any offer for an extended warranty complies with the customer protections set out in the Australian Consumer Law (ACL).
A total of $8.3 million in penalties was imposed by the Federal Court upon two forklift gas supply companies, Renegade Gas Pty Ltd (Renegade), Speed-E-Gas (NSW) Pty Ltd (Speed-E-Gas) and three individuals of the two companies, for engaging in cartel conduct restricting competition.
The Australian Competition and Consumer Commission (ACCC) have instituted proceedings against the well-known Christmas hamper company, Chrisco.
The Personal Property Securities Act 2009 (PPSA) has imposed upon businesses a new and complex regime that is laden with very technical terms and concepts that can be difficult to fully understand.
When the Rolling Stones cancelled not one but two Australian concerts in 2014, the ticket providers offered refunds to those concert ticket holders. But what about the cost of flights or accommodation?
The Australian Law Reform Commission released a Discussion Paper, Serious Invasions of Privacy in the Digital Era which set out over 40 proposals for reform, including new causes of action for invasion of privacy. A Summary Report has recently been published which recommends the adoption of a great many of those proposals.