The Treasury Laws Amendment (More Competition, Better Prices) Bill 2022 will, for the first time, apply penalties to unfair contract terms and will increase maximum penalties under the CCA and ACL five-fold. In brief On 28 September 2022, the Government introduced the Treasury Laws Amendment (More Competition, Better Prices) Bill 2022 (“Bill”). If passed, the Bill will: Introduce a civil penalty regime prohibiting the use of and reliance on unfair contract terms (UCTs) in standard…