A range of national reform projects agreed to by the Council of Australian Governments (COAG) affect the laws administered by NSW Fair Trading. These changes took effect between 1 July 2010 and 1 July 2013.
Australian Business Licence and Information Service
The new Australian Business Licence and Information Service (ABLIS) replaces individual State and Territory BLIS services. In NSW this service supersedes the previous service provided through the BLIS website.
Commencement date: 16 October 2012
More information: ABLIS website
Business name/Australian Business Number (ABN)
The Australian Securities and Investments Commission (ASIC) is responsible for registering business names including a national registration service for business names. Existing registered business names have been transferred to the national system and have attained a national registration status .New businesses will need to obtain an ABN before they can register a national business name.
Commencement date: 28 May 2012
More information: ASIC website
Personal Property Securities Register (includes REVS)
The Australian Government’s Personal Property Security (PPS) reform brings the different Commonwealth, State and Territory laws and registers regarding security interests in personal property under one national system.
Commencement date: 30 January 2012
More information: PPSR website
Australian Consumer Law
The Australian Consumer Law (ACL) replaced Commonwealth, State and Territory consumer protection legislation in fair trading acts and the Trade Practices Act 1974 on 1 January 2011. The ACL is contained in a schedule to the Competition and Consumer Act 2010. In NSW the Australian Consumer Law (NSW) replaced parts of the NSW Fair Trading Act 1987.
Aspects of the ACL are also reflected in the Australian Securities and Investments Commission (ASIC) Act 2001 to protect consumers of financial products and services.
The key changes in NSW apply to:
- consumer guarantees
- product safety
- acceptable business practices
- unfair contract terms
- sales practices
There is joint enforcement of the law by the Australian Competition and Consumer Commission (ACCC) and State and Territory consumer protection agencies.
Commencement date 1 January 2011
Trade measurement system
A national system of trade measurement administered by the Commonwealth by the National Measurement Institute (NMI), a division of the Department of Innovation, Industry, Science and Research.
Commencement date: 1 July 2010
More information: National Measurement Institute website
Financial services and consumer credit
Responsibility for regulating consumer credit and finance broking transferred to the Commonwealth on 1 July 2010. The Australian Securities and Investments Commission (ASIC) will administer the legislation. Products that will be regulated under the national credit regime include home loans, personal loans, credit cards, consumer leases, overdrafts and line of credit accounts, among other products and services.
National Occupational Licensing System
During the 36th meeting of the Council of Australian Governments (COAG) it was noted that the proposed National Occupational Licensing Scheme reform will not continue.