Document ID: chunk:federal_register_of_legislation:F2024L01605:reg:4
Version: federal_register_of_legislation:F2024L01605
Segment Type: reg
Provision Reference: reg 4
Character Range: 9609–10731

4  Simplified outline of this instrument

      This instrument prescribes a mandatory industry code for the franchising industry.
      The Code requires franchisors, franchisees and prospective franchisees:
             (a) to act in good faith towards one another; and
             (b) to do certain things, and observe certain cooling‑off periods, before entering into, renewing, extending, transferring or terminating franchise agreements; and
             (c) to do certain things in relation to disputes and dispute resolution.
      The Code also includes:
             (a) requirements about the terms of franchise agreements; and
             (b) particular requirements for new vehicle dealership franchise agreements; and
             (c) requirements relating to the Franchise Disclosure Register; and
             (d) civil penalty provisions for contraventions of requirements.
      The Code also confers functions on the Australian Small Business and Family Enterprise Ombudsman in relation to the Code and confers functions on the Secretary for the administration of the Franchise Disclosure Register.