What the official record says
This Act is the Fair Trading (Oppressive Contracts) Amendment Act . This Act comes into force on the day after the date on which it receives the Royal assent. This Act amends the Fair Trading Act 1986 (the ). In section 2(1), insert in their appropriate alphabetical order: , in relation to a contract term, does not include a term to the extent that it— defines the main subject matter of the contract; or clearly sets out the consideration payable; or is required or expressly permitted by an enactment means oppressive, harsh, unjustly burdensome, unconscionable, or in breach of reasonable standards of commercial practice is one in which the questionable terms have not been subject to effective negotiation between the parties In section 2(1), repeal the definition of . After section 3, insert