Document ID: chunk:federal_register_of_legislation:F2024L01605:reg:21
Version: federal_register_of_legislation:F2024L01605
Segment Type: reg
Provision Reference: reg 21
Character Range: 37412–38403

21  Updating disclosure document—general
 (1) This section applies to a franchisor if:
 (a) on the first day of a financial year (the current financial year), the franchisor is a party to a franchise agreement; and
 (b) either:
 (i) the franchisor entered into 2 or more franchise agreements in the previous financial year; or
 (ii) the franchisor intends, or, if the franchisor is a company, its directors intend, to enter into another franchise agreement in the current financial year.
 (2) The franchisor must, within 4 months starting on the first day of the current financial year, update the disclosure document so that it reflects:
 (a) the position of the franchise and the franchisor as at the date of the update; and
 (b) any relevant amendments made to this Code since the disclosure document was created or last updated.
Note: See also section 33 (giving updated disclosure document on request by franchisee).
Civil penalty: 600 penalty units.

Division 3—Information statement