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.

COVID-19 Business Survey
LegalVision is conducting a survey on the impact of COVID-19 for businesses across Australia. The survey takes 2 minutes to complete and all responses are anonymous. We would appreciate your input. Take the survey now.

About LegalVision: LegalVision is a tech-driven, full-service commercial law firm that uses technology to deliver a faster, better quality and more cost-effective client experience.

The majority of our clients are LVConnect members. By becoming a member, you can stay ahead of legal issues while staying on top of costs. For just $199 per month, membership unlocks unlimited lawyer consultations, faster turnaround times, free legal templates and members-only discounts.

Learn more about LVConnect

Adi Snir
Need Legal Help? Get a Free Fixed-Fee Quote

If you would like to receive a free fixed-fee quote or get in touch with our team, fill out the form below.

  • By submitting this form, you agree to receive emails from LegalVision and can unsubscribe at any time. See our full Privacy Policy.
  • This field is for validation purposes and should be left unchanged.
Our Awards
  • 2019 Top 25 Startups - LinkedIn 2019 Top 25 Startups - LinkedIn
  • 2019 NewLaw Firm of the Year - Australian Law Awards 2019 NewLaw Firm of the Year - Australian Law Awards
  • 2020 Fastest Growing Law Firm - Financial Times APAC 500 2020 Fastest Growing Law Firm - Financial Times APAC 500
  • 2020 AFR Fast 100 List - Australian Financial Review 2020 AFR Fast 100 List - Australian Financial Review
  • 2020 Law Firm of the Year Finalist - Australasian Law Awards 2020 Law Firm of the Year Finalist - Australasian Law Awards
  • Most Innovative Law Firm - 2019 Australasian Lawyer 2019 Most Innovative Firm - Australasian Lawyer
Privacy Policy Snapshot

We collect and store information about you. Let us explain why we do this.

What information do you collect?

We collect a range of data about you, including your contact details, legal issues and data on how you use our website.

How do you collect information?

We collect information over the phone, by email and through our website.

What do you do with this information?

We store and use your information to deliver you better legal services. This mostly involves communicating with you, marketing to you and occasionally sharing your information with our partners.

How do I contact you?

You can always see what data you’ve stored with us.

Questions, comments or complaints? Reach out on 1300 544 755 or email us at info@legalvision.com.au

View Privacy Policy