Electronic transaction revamp Bill passed

A Bill to update transaction laws to deal with sealing contracts in the electronic world was passed yesterday.

in brief A Bill to update transaction laws to deal with sealing contracts in the electronic world was passed yesterday.

Contracts are increasingly being created by parties from all over the world, requiring a rejig of Australia's legal framework, Attorney-General Robert McClelland said. The Electronic Transactions Amendment Bill 2011 updates the Electronic Transactions Act 1999 to enable this.

"The Bill provides legal certainty for the operation of traditional contract laws in the electronic environment 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," McClelland said.

The amendments will see Australia's Electronic Transaction Acts aligned with the United Nations Convention on the use of Electronic Communications in International Contracts 2005, which will enable the government to accede to the UN convention.

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