Time to review franchising code of conduct, says Bailey
Minister for Small Business Fran Bailey has announced the Australian Government will review the disclosures section of the Franchising Code of Conduct.
"Over the past few months, a number of concerns have been raised regarding the adequacy of the disclosures section of the Franchising Code," Ms Bailey said. "Most people in the franchising sector do the right thing, but given the level of concern, I have decided to review the disclosures section of the Code."
'Disclosures section' of code needs review
The mandatory Franchising Code of Conduct was introduced in 1998 to improve fair trading in the franchising sector.
The disclosures section includes information requirements that franchisors must disclose to prospective franchisees, before deciding to purchase a franchise.
The review will consider all available evidence and make any necessary recommendations to improve the Code.
Ms Bailey encourages all interested parties to make a submission to the review.
29 June, 2006