Trade Practices Amendment (Australian Consumer Law) Act (No. 1) 2010 (44 of 2010)

Schedule 3   Amendment of corporations legislation

Part 8   Enforcement and remedies relating to unfair contract terms

Australian Securities and Investments Commission Act 2001

50   Subsection 12GNB(5)

Repeal the subsection, substitute:

(5) An application under subsection (1) may be made at any time within 6 years after the day on which:

(a) if subparagraph (1)(a)(i) applies - the cause of action that relates to the contravening conduct accrues; or

(b) if subparagraph (1)(a)(ii) applies - the declaration is made.