Law, Consumer Protection Act And Competition Law

The first national regulatory efforts in the late 1800s were intended at punishment for, and the prevention of, abuses in the marketplace, antitrust violations, and price gouging. During the 20th century, government regulation became even more extensive, focusing not only on preventing certain kinds of practices, but also requiring that certain in service standards can and should be met. And the past 50 years, more than a dozen new regulatory agencies have been shaped at the national and state government levels, following the route of new regulatory statutes. Regulatory measures contact virtually every part of our lives.

Consumer protection also imposes additional costs onto a business since it is mandatory that they comply with these laws. If they do not comply they risk fines and ultimately being put out of business by a court of law. The Consumer Rights Act is now operating in place of the Sales of Goods, Unfair Terms in Consumer Contracts Regulations and the Supply of Goods and Services Act. The Consumer Rights Act was introduced in October 2015 to simplify, strengthen and make clearer an individual’s rights when acting as a consumer. Similarly to the Sale of Goods Act, under the Consumer Rights Act all products must be of satisfactory quality, fit for purpose and as described. Under the Consumer Rights Act individuals have a legal right to discard goods that are of unsatisfactory quality, unfit for purpose or not as described, and get a full refund. This right is limited to 30 days from the date the product is bought. After 30 days the consumer will not be legally entitled to a full refund if the item develops a fault. With digital products such as apps or games consumers can ask for the product to be repaired or replaced if it develops a fault. And if this isn't possible, individuals have the right to receive a price

The Australian Competition and Consumer Commission (ACCC) is an administer of the competition and Consumer Act (CCA) which is to prevent collusion among the firms and to prevent the individual firm which break the market equilibrium with their market power. Well competitive market would deliver efficiency costs, faster innovation, prevention of unduly concentrated markets, business freedom, wealth distribution, and enhancement of international competitiveness. Therefore, the ACCC is playing a crucial role in Australia, and their activities can be divided into four categories; (1) the policies for anti-competitive conduct and anti-competitive practices, (2) the mergers policy, (3) the consumer protection policy, and (4) four pillars policy.

In this task, Customer of Legislation, I will discuss the five main acts of parliament that the legislations are made for the business. The legislation is a law, which there are five for businesses, which everyone must follow the law, however, the ideas of Laws in a business are made by the government to make sure customers of a business are protected from a business by the five Acts of Parliament. These Laws of parliament will make sure the Business follows the rules for customer’s protection purposes. However, if they don’t follow the rules, the customers could be harmed; the businesses must be honest to customers; the business must not take advantage of customers.

Consumer protection laws are federal and state statues governing sales and credit practices involving consumer goods. Consumer Product Safety Commission, Unfair or Deceptive Trade Practices, Truth in Lending Act, Fair Debt Collection Practices Act, Warranties and Consumer Remedies are laws that were establish to give the consumer a fair shake at buying or borrowing money. Goods that were purchase or service for personal use were presumed fair that buyers and sellers would bargained for equal positions. The consumer protection is a law that has to contribute to safety, protecting the health of consumers and the economic interest of consumers. Local trade practices consider unfair or deceptive may fall with Federal Trade Commission laws and regulations and have an effect on interstate commerce. Federal and state laws governing sales, credit financing and reporting, product quality, leases, sales practices, debt collection and other aspects of consumer transactions may be regulated as deceptive trade practices. Consumers are protected by several types of agencies and statues that are enforced by state and federal laws. Today many of consumer protection issues are involve with the

is duty bound to follow regulations and laws to ensure the safety of consumers by

Using the list of legislation and regulations below, explain in brief, what each covers, including some of the main features.

For the industry, The CPSC regulates and establishes the safety requirements for the consumer products. Be committed to providing a complete research, manufacture, and sale environment. For the general consumers, the aim of the CPSC is to assist consumer in getting away from the risks of serious injury or death from the products in the market. The CPSC held a public meeting for consumer groups and industry organizations to know the information that public concern and the future trend of product safety. For the media, people can inquiry and know the information about the consumer products from the local newspaper, books, and Internet. The CPSC announces the latest news through the media so that consumers can be informed and educated. Also Consumer Product Safety Commission has its own specialized website to respond to consumer inquiries. For the agencies of public and government, the CPSC actively promote the perfection of the regulations and consumer

The CCA is another law made by the ACCC to protect consumers in the market. The act protects the welfare of Australians by encouraging fair trading and competition. It provides consumer protection in the following ways

The Fair Competition Act and Consumer Protection Acts are designed to maintain and promote a good relationship between consumers and vendors, and to protect consumers and businesses of unfair practices among themselves. The Fair Competition Act promotes competitiveness among business and prevents unlawful practices that would prevent other business from entering a market (anti-competitiveness). While the Fair Competition Acts promotes competition among businesses, the Consumer Protection Acts protects the users of the product, to ensure the life, health and safety of the consumers. Each act is there to protect good practices among businesses, and consumers however the acts can be breached by unlawful practices such as Price fixing, Conspiracy,

The definition of goods is given as any tangible moveable items. Shoppers are now guaranteed a full refund up to 30 days after the purchase of the defective product. This demand for a full refund with a fixed time limit provides better protection for consumers as the duration was previously unclear and legitimate claims could be rejected by businesses due to prior legislation only providing refunds if within a reasonable time. This time limit is provided for under Section 22(3) which gives the consumer the right to reject the goods. After 30 days, retailers will be given one opportunity to repair or replace the defective product and this is dependent on the customer.

Employment or labor laws have been developed to facilitate smooth relationship between employers and employees. Employment laws provide rules and regulations that should govern both the employer and the employees in their places of work. Employment laws discuss issues related to child labor, wages and salaries, retirement, working conditions, compensations, incentives and employment benefits among others. The major objective is to ensure the employer does not exploit the employee and on the other hand, the employee honors the terms and conditions of the job as presented by the employer.

The purpose of Employment Law is to provide legal protection to employees and employers. Employment Law is set up to ensure legal guidelines and standards are met with recruiting, working standards, pay and allowances and the disciplinary process. It is also aimed at protecting a person’s Equality and Human Rights such as

The Trading Standards Institute enforces consumer related legislation as determined by central government. The variety of this legislation is vast and is always evolving. In view of this changing environment, the Trading Standards Institute is dedicated to engaging with central government and other proposals, displayed in their responses to the various consultations that concern consumer protection issues and/or the Trading Standards profession. (TSI 2010)

Numerous and varied laws regulate the activities of all businesses and everyone involved in business, from owner to manager to employee. Some major business law categories are as follows: