What do you need to know about the new Franchising Code of Conduct? Legislation to amend the Competition and Consumer Act to give effect to new penalties for certain breaches (court awarded fines of up to $51,000 and ACCC powers to issue infringement notices of $8,500 per breach) will take effect 1 January 2015 when the new Code comes into effect.

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The new Franchising Code has drawn praise from industry groups; both the Franchise Council of Australia and the Australian National Retailers’ Association have welcomed the release of the updated Franchising Code of Conduct by the Federal Government.

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