Changes to laws relating to business in the digital economy

Attorney-General Robert McClelland last week welcomed the passage of legislation through Parliament which will ensure Australia’s electronic transactions laws keep pace with technological change and international standards.

The Electronic Transactions Amendment Bill 2011 updates the current act (Electronic Transactions Act 1999) to reflect internationally recognised standards on electronic commerce.

Mr McClelland said “It wasn’t too long ago that parties were required to physically sit in the same room to form a legally binding contract.

“With the global reach of electronic commerce, contracts are increasingly being formed by parties in different locations all around the world.

“This legislation ensures Australia’s framework applies to new ways of doing business.”

The Bill clarifies various areas of the law to meet the needs of present day business practices, including clarifying the time at which a contract is formed and determining the location of the parties