This publication helps brokers and exchanges understand their fair trading obligations under the Competition and Consumer Act 2010 when dealing with irrigators.
This guide is intended to reflect the consumer law at a point in time and does not reflect changes to the Australian Consumer Law which have occurred since initial publication. These changes include changes to the definition of 'consumer'. For goods and services supplied from 1 July 2021, the threshold amount has increased from $40,000 to $100,000.
In October 2022, the Australian Government announced its commitment to legislate new functions for the ACCC as the water market conduct regulator in the Murray-Darling Basin. This is expected to create new legal obligations on water market participants. This guidance will be updated when these changes become law.
Note: This guide is not legal advice or a definitive list of situations where the Australian Consumer Law applies. Brokers and exchanges should review current legislation to ensure that they are aware of their rights and obligations under the Competition and Consumer Act 2010 and the Australian Consumer Law.