Extension of unfair trading practice protections to small businesses

Assistant Treasurer and Minister for Financial Services Stephen Jones has announced Treasury will consult this year on the design of protections for businesses, including on whether a principles-based prohibition should apply and whether specific unfair trading practices should be targeted to protect small businesses. 

The consultation will consider how Unfair Trading Practice protections can be used to address practices that harm small businesses.  

The announcement follows a statutory review of the amendments to strengthen unfair contract term protections that the Government legislated in 2022.