Empowering Consumers subjected under Part IIIA of the Consumer Protection (Amendment ) Act 2010.

A. Introduction

Malaysia did not have specific legislation governing unfair contract terms between businesses and consumers, unlike the United Kingdom and other commonwealth countries such as Singapore until the Consumer Protection (Amendment) Act 2010 introduced Part IIIA to the Consumer Protection Act 1999 (??PA?? which has, to some extent, addressed this lacuna.

B. Tribunal for Consumer Claims

For consumer claims of up to RM10,000, Part XII of the CPA introduces an alternative redress forum called the Tribunal for Consumer Claims. The Tribunal comprises a Chairperson and Deputy appointed from among members of the Judicial and Legal Services and other persons qualified for legal practice in the country.

While consumers are afforded a cheaper and less time-consuming alternative to protect their rights, retailers can only rely on the courts. The consumer centric aims of the CPA are laudable from a consumer?? point of view but, from a larger perspective, shouldn?? retailers also have access to a similar forum if this allows for a cheaper and quicker dispute resolution?

C. Conclusion

With the amendments to the CPA, companies will need to review and revise the way they do business with consumers. The revisions to the CPA are, arguably, broad enough to include banks, airlines, cinemas and hypermarkets, to name a few. These amendments certainly enhance the rights of consumers, but should they be extended to include the rights of businesses, as in certain other countries? The answer, perhaps, lies in where the risk should sit and whether the concept of ??aveat emptor?? or buyer beware, should be revised for all buyers and not just consumers.

Hot Stocks Today for BURSA KLSE:

         AAX

         IWCITY

         DNEX

         AIRASIA

Hot Stocks Today for SGX:

DBS

SingTel

Ezion

OCBC Bank

LIVE Trading STOCK SIGNALS With : http://www.mmfsolutions.sg/

To get More Updates: 

Stock signals, Stock tips, stock Picks, Stocktips Malaysia, bursa malaysia stock signals, klse daily stock signals, KLSE stock picks, KLSE Stock Recommendations, KLSE stock signals, stock market news, stock market update, Stock Picks Malaysia, Stock trading picks,& Stock trading strategy

  For More Visit Us: http://www.mmfsolutions.sg Tel- +65-3158-2180 Email- info@mmfsolution.sg