Just a friendly reminder to Franchisors that it is time to update your Disclosure Documents.

The Franchising Code of Conduct requires you to update your Disclosure Document within 4 months of the end of each financial year.

Fines for a Breach of the Code

Amendments to the Franchising Code of Conduct were introduced into the House of Representatives yesterday which will, amongst other things, empower the ACCC to issue infringement notices for up to $8,500 for businesses who breach the Code.

Franchisors need to ensure their processes are correct leading up to the proposed start date of the amendments in January 2015 or it may become a very costly exercise.