The Minister for Small Business, Bruce Billson, announced on 2 April 2014 the Federal Government’s intention to proceed with changes to the Franchising Code of Conduct foreshadowed last year under the previous government.
The reforms have come about as a result of the recommendations of the Wein Report, and after consultation with the franchising industry. Accompanying the announcement was a release of the exposure draft of the amended Franchising Code of Conduct for review. Industry participants now have until 30 April 2014 to review the proposed changes and make submissions.
The proposed changes are significant and will affect all franchise agreements entered into or renewed after 1 January 2015.