93Obligation to annually update or confirm information included in Register

93 Obligation to annually update or confirm information included in Register

Franchisors to which this section applies (1) This section applies to a franchisor if: (a) information is included, or was required to be included, in the Register under: (i) section 92; or (ii) clause 53C or 53D of Schedule 1 to the old regulations; and (b) if the franchisor is the master franchisor in a master franchise system—the master franchise system has 2 or more subfranchisors. Obligation to update or confirm information (2) The franchisor must, in accordance with subsection (3), do the following: (a) if information included by the franchisor in the Register remains current—confirm that the information is correct; (b) to the extent that the following information is incorrect, out‑of‑date or has not previously been provided by the franchisor for inclusion in the Register—provide or update the information mentioned in subsection 92(2): (c) provide any information required to be provided to the Chairperson under a determination under subsection (4) of this section.

Note: Persons other than the franchisor may provide the information on behalf of the franchisor (see Division 4).

Civil penalty: 600 penalty units.

(3) The information must be provided: (a) in a form and manner approved by the Chairperson in writing; and (b) either: (i) unless subparagraph (ii) applies—at least once for each financial year; (ii) if the franchisor was required by section 92 to provide information for inclusion in the Register for a franchise agreement the franchisor is proposing to enter into—at least once for each financial year that ends after the day the franchisor enters into the franchise agreement; and (c) on or before the 14th day of the fifth month following the end of the financial year. Franchisors may be required to provide information to the Chairperson (4) The Secretary may, by legislative instrument, determine that each or a specified franchisor must provide to the Chairperson information that is required to be included in a disclosure document created by the franchisor that is not information mentioned in subsection 90(3).

Note 1: For specification of one or more classes of franchisors, see subsection 13(3) of the Legislation Act 2003.

Note 2: Section 20 of this instrument requires certain information to be included in a disclosure document.