2002-2003-2004

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

Treasury Legislation Amendment (Professional Standards) Bill 2003

 

 

(Government)

(1)     Title, page 1 (line 2), omit “ professional standards ”.

[limit on liability arising from implied warranty]

(2)     Schedule 1, page 3 (before line 5), before item 1, insert:

1A  After subsection 12ED(2)

Insert:

          (2A)  If:

                     (a)  there is a breach of an implied warranty that exists because of this section in a contract made after the commencement of this subsection; and

                     (b)  the law of a State or Territory is the proper law of the contract;

the law of the State or Territory applies to limit or preclude liability for the breach, and recovery of that liability (if any), in the same way as it applies to limit or preclude liability, and recovery of a liability, for breach of another term of the contract.

[limit on liability arising from implied warranty]

(3)     Schedule 1, page 6 (before line 30), before item 9, insert:

8A  After subsection 74(2)

Insert:

          (2A)  If:

                     (a)  there is a breach of an implied warranty that exists because of this section in a contract made after the commencement of this subsection; and

                     (b)  the law of a State or Territory is the proper law of the contract;

the law of the State or Territory applies to limit or preclude liability for the breach, and recovery of that liability (if any), in the same way as it applies to limit or preclude liability, and recovery of a liability, for breach of another term of the contract.

[limit on liability arising from implied warranty]