WebJun 28, 2024 · In November 2024, we wrote about several proposed changes to the Franchising Code of Conduct ( the Code ), view here. In June 2024, the Federal Minister for Employment, Workforce, Skills, Small ... The pre-entry disclosure requirements have been revised, including: 1. a new form of Information Statement now needs to be provided, with the form published on the ACCC website; 2. introducing a new concept of a Key Fact Sheet, which must be provided with disclosure and updated annually, also to be … See more From 1 July 2024 additional disclosure of leasing arrangements must now be made in the disclosure document, including specific disclosure of franchisor’s interest in the lease, which … See more The changes to CAPEX obligations in essence amend the Code to adopt the changes made in 2024 to the Code provisions governing the automotive sector. They narrow the circumstances in which a franchisor … See more The franchisee’s cooling off period has been extended to 14 days (from 7 days). If the lease is not in force when entering the franchise agreement, … See more Transfers are now also subject to cooling off period. This adds unnecessary complexity and cost to the transfer process, although … See more
Franchising Code of Conduct changes commencing on 1 July 2024 …
WebIn brief - Amendments to the Franchising Code of Conduct (Code) aimed at addressing identified power imbalances between franchisees and franchisors will commence on 1 … WebAug 30, 2024 · The Franchising Code of Conduct is a code that sets out the standards for franchisors and franchisees. A franchisor is an organization that grants rights to third parties, typically individuals or groups, to use its trademarks and trade dress in exchange for a fee. A franchisee is a person who has been granted these rights by a franchisor. jj nichting sigourney
Franchising Code of Conduct changes commencing on 1 July 2024
WebApr 4, 2014 · Review of the Code – where we are at. In January 2013, the Labor Government announced an independent review of the Code. The 'Review of the Franchising Code of Conduct' (the Wein Report) 1 was presented to the Government in April 2013 and was released publicly in May 2013. In June 2013, the Labor Government … WebDuring a franchise agreement. Franchising agreements can go for a long time and there are obligations on both sides. Franchisors must give franchisees specific information and documents during the agreement. This includes when there are changes to the franchise, when ownership is changing, and about the marketing fund if there is one. WebMost franchise systems will see the changes to the Franchising Code of Conduct announced on 1 June 2024 as a sensible conclusion to a 3 year regulatory review … j j north collection