Full Court hearing expected on ASIC unfair term appeal
An Australian Securities and Investments Commission appeal against an unfair contract term decision that went in favour of Auto & General could be heard as early as August.
An order issued last week says the hearing will be listed for an estimate of one day before the Full Federal Court in Sydney during the August or subsequent sitting period.
The Full Court and Appellate calendar has capital city sitting dates from August 5-30 and November 4-26. Sittings after the holiday period resume in March.
The Federal Court’s Justice Ian Jackman ruled earlier this year that a clause requiring policyholders to inform Auto & General “if anything changes about your home or contents” is not unfair.
But the corporate regulator says it remains concerned the term imposes an unclear obligation on policyholders regarding what they must disclose, and it could mislead or confuse the customer as to their obligations and rights.
The legal action was ASIC’s first against a general insurer over unfair contract terms since protections were expanded to include the sector following a Hayne royal commission recommendation.