21Updating disclosure document—general

21 Updating disclosure document—general

(1) This section applies to a franchisor if: (a) on the first day of a financial year (the current financial year), the franchisor is a party to a franchise agreement; and (b) either: (i) the franchisor entered into 2 or more franchise agreements in the previous financial year; or (ii) the franchisor intends, or, if the franchisor is a company, its directors intend, to enter into another franchise agreement in the current financial year. (2) The franchisor must, within 4 months starting on the first day of the current financial year, update the disclosure document so that it reflects: (a) the position of the franchise and the franchisor as at the date of the update; and (b) any relevant amendments made to this Code since the disclosure document was created or last updated.

Note: See also section 33 (giving updated disclosure document on request by franchisee).

Civil penalty: 600 penalty units.