Treasury has released a Consultation Regulation Impact Statement which consults on the following proposals relating to the consumer guarantees regime in the Australia Consumer Law (ACL):
- Chapter 1: increasing the monetary threshold in the definition of ‘consumer’ from referring to a person who acquires goods or services that does not exceed $40,000 to now not exceeding $100,000;
- Chapter 2: clarifying the trigger for consumer guarantees remedies (comprising two scenarios that trigger remedies – being failure within a short period of time and multiple failures in the same good);
- Chapter 3: enhanced disclosure requirements for extended warranties; and
- Chapter 4: access to consumer guarantees for goods sold at auctions.
Submissions on the Consultation RIS are due by 23 April 2018.