The BCA supports appropriate and proportionate laws to promote competition and protect Australian consumers, but it views the existing legislation provides such protection while ensuring that business is also provided with a regime that is workable and certain.

The current legislation, which is underpinned by a substantial body of case law, is preferable to the insertion of a statutory definition of unconscionable conduct into our laws.

This is particularly so given the risk of undue prescription and introduction of a lack of flexibility by the proposal to impose such a statutory definition.

Submission to the Senate Economics Committee Inquiry into the Statutory Definition of Unconscionable Conduct