Reading time: 2 minutes

The new Franchising Code of Conduct, which came into operation on 1 January 2015, requires all Franchisors to update their Disclosure Document to the new format by 31 October 2015.

More generally, the Franchising Code of Conduct requires you to update your Disclosure Document every financial year and have it ready within 4 months of the end of that financial year. This means that for every year, you will need to make sure that your Disclosure Document is updated by 31 October 20XX.

What if I already have updated it to match the new Code?

According to our Franchise Lawyers, if you have already updated it, then you won’t need to worry about updating your Disclosure Document until 4 months after the end of the next financial year. I.e. 31 October 2016.

You won’t, however, need to update your Disclosure Document if:

  • You didn’t enter into any new franchise agreements for that financial year;
  • You only entered into 1 new franchise agreement for that financial year; or
  • You don’t intend to enter into a new franchise agreement for the next financial year.

Despite the above, however, our Franchise Lawyers always recommend as a practical matter that you update your Disclosure Document every year. This is because the Franchising Code of Conduct also obliges you to provide a Disclosure Document to an existing franchisee if they ask for one and the copy that you provide needs to be an updated copy. The only restriction to this is that a Franchisee cannot ask for a copy more than once every 12 months. It’s always more difficult, time consuming and expensive to update a really old Disclosure Document than it is to update a Disclosure Document that is 1 year old.

Webinars

Redundancies and Restructuring: Understanding Your Employer Obligations

Thursday 7 July | 11:00 - 11:45am

Online
If you plan on making a role redundant, it is crucial that you understand your employer obligations. Our free webinar will explain.
Register Now

How to Sponsor Foreign Workers For Your Tech Business

Wednesday 13 July | 11:00 - 11:45am

Online
Need web3 talent for your tech business? Consider sponsoring workers from overseas. Join our free webinar to learn more.
Register Now

Advertising 101: Social Media, Influencers and the Law

Thursday 21 July | 11:00 - 11:45am

Online
Learn how to promote your business on social media without breaking the law. Register for our free webinar today.
Register Now

Structuring for Certainty in Uncertain Times

Tuesday 26 July | 12:00 - 12:45pm

Online
Learn how to structure to weather storm and ensure you can take advantage of the “green shoots” opportunities arising on the other side of a recession.
Register Now

Playing for the Prize: How to Run Trade Promotions

Thursday 28 July | 11:00 - 11:45am

Online
Running a promotion with a prize? Your business has specific trade promotion obligations. Join our free webinar to learn more.
Register Now

Web3 Essentials: Understanding SAFT Agreements

Tuesday 2 August | 11:00 - 11:45am

Online
Learn how SAFT Agreements can help your Web3 business when raising capital. Register today for our free webinar.
Register Now

Understanding Your Annual Franchise Update Obligations

Wednesday 3 August | 11:00 - 11:45am

Online
Franchisors must meet annual reporting obligations each October. Understand your legal requirements by registering for our free webinar today.
Register Now

Legal Essentials for Product Manufacturers

Thursday 11 August | 11:00 - 11:45am

Online
As a product manufacturer, do you know your legal obligations if there is a product recall? Join our free webinar to learn more.
Register Now

About LegalVision: LegalVision is a commercial law firm that provides businesses with affordable and ongoing legal assistance through our industry-first membership.

By becoming a member, you'll have an experienced legal team ready to answer your questions, draft and review your contracts, and resolve your disputes. All the legal assistance your business needs, for a low monthly fee.

Learn more about our membership

Need Legal Help? Submit an Enquiry

If you would like to get in touch with our team and learn more about how our membership can help your business, fill out the form below.

Our Awards

  • 2020 Innovation Award 2020 Excellence in Technology & Innovation Finalist – Australasian Law Awards
  • 2020 Employer of Choice Award 2020 Employer of Choice Winner – Australasian Lawyer
  • 2020 Financial Times Award 2021 Fastest Growing Law Firm - Financial Times APAC 500
  • 2020 AFR Fast 100 List - Australian Financial Review
  • 2021 Law Firm of the Year Award 2021 Law Firm of the Year - Australasian Law Awards
  • 2022 Law Firm of the Year Winner 2022 Law Firm of the Year - Australasian Law Awards