Tough new ‘Consumers First’ laws pass Parliament
Tough new laws that put consumers first by giving them a fairer deal on gift cards and stamping out dodgy ticket scalpers have passed the NSW Parliament today.
Minister for Better Regulation Matt Kean said the amendments to the Fair Trading Act 1987 would crack down on price gouging in the sports and live entertainment industries.
“These Australian-first laws will stop the ‘bots’ by outlawing security manipulation software that allows ticket scalpers to sweep up tickets in mass quantities,” Mr Kean said.
“All too often I hear about tickets to sporting and entertainment events being resold online at hugely inflated prices.
“Ordinary fans are being pushed out of the market and taken for a ride by these shonky operators, so today we’re putting a stop to it.
“But we’re not just stopping the bots. We’re also introducing laws to combat price gouging by putting a 10 per cent cap on resold tickets, cracking down on advertising of second-hand tickets, and fostering more transparency in the primary ticket market.”
In another first for Australia, Mr Kean said there would now be a mandatory minimum three-year expiry date for gift cards sold to consumers in NSW.
“These laws will put up to $60 million back in the hands of shoppers that’s currently lost to retailers through unused balances on expired gift cards,” he said.
“We’ve also outlawed post-purchase fees and charges on gift cards, which eat into the balance, leaving consumers out of pocket.
“When customers hand over their hard-earned money they deserve to get what they paid for, and that’s exactly why we are putting consumers first and ensuring they get a fair go.”
Mr Kean also congratulated his parliamentary colleagues for supporting these historic reforms and putting consumers first.
“I thank my fellow Parliamentarians for recognising the importance of these Bills and passing them without amendment,” he said.