Answer:
A Disclosure Document should be updated every financial year. However, a Franchisor can decide not to update a Disclosure Document if there was only 1 new Franchisee in the past financial year, or if the Franchisor does not intend to enter into a new Franchise Agreement for the following financial year.
Nevertheless, if an existing Franchisee asks for a copy of the Disclosure Document, then the Franchisor will need to update and provide a copy to the Franchisee within 2 months of the request being made.
