Summary
Amends the:
Competition and Consumer Act 2010
to increase the maximum penalty applicable for anti-competitive behaviour and certain breaches of competition consumer law; and
Competition and Consumer Act 2010
and
Australian Securities and Investments Commission Act 2001
to: establish a civil penalty regime prohibiting the use of, and reliance on, unfair contract terms in standard form contracts; and expand the class of contracts that are covered by the unfair contract terms.