On 10 July 2015, the Small Business Minister, Bruce Billson, announced that State and Territory Ministers for Consumer Affairs have agreed the terms of reference for the first review of the Australian Consumer Law (ACL) since its introduction on 1 January 2011.
The main objectives of the review are to assess the ACL's impact on protecting consumers, and to streamline regulatory requirements for businesses. The second Australian Consumer Survey will be a key component of the review, and will be used to assess the level of understanding by consumers and businesses of consumer laws, their application and enforcement.
The review will be overseen by Consumer Australia and New Zealand (CAANZ), and is set to formally commence in 2016 along with an extensive public consultation process. The Final Report is expected in early 2017.
A copy of the Media Release is available here.