Commonwealth Consolidated Regulations

COMPETITION AND CONSUMER (INDUSTRY CODES--FRANCHISING) REGULATION 2014 - REG 5

  (1)   Subclause   8(1) of the new code does not apply if a franchisor has an existing disclosure document.

  (2)   If a franchisor has an existing disclosure document:

  (a)   the existing disclosure document may be given under the new code before 1   November 2015; and

  (b)   the franchisor must update the existing disclosure document so that it complies with subclauses   8(3), (4) and (5) of the new code by 31   October 2015; and

  (c)   the requirements of subclause   8(6) of the new code apply to a financial year that begins on or after 1   January 2015.

  (3)   In this section:

"existing disclosure document" means a franchisor's disclosure document (within the meaning of the old code) that exists on 1   January 2015.

"new code" means the Franchising Code of Conduct set out in Schedule   1 to this instrument.

"old code" means the Franchising Code of Conduct set out in the Schedule to the Trade Practices (Industry Codes--Franchising) Regulations   1998 as in force immediately before 1   January 2015.