It’s fairly easy to prepare a list of Commonwealth and State laws and local by-laws (and mandatory and self-regulatory codes of conduct) and talk about the significant penalty provisions. And it is important that every business understands the laws that apply to it.

But it shouldn’t stop there. It’s essential for a business to build a framework of policies and procedures around the core legislation and then train your staff and monitor them to ensure compliance relevant to your business on a day to day basis.

So what are the basics?

• The Corporations Act
• whichever Act licenses your industry
• The Trade Practices Act and consumer protection laws (including the new Australian Consumer Law)
• The Commonwealth Privacy Act
• the various Tax Acts (Commonwealth and State)
• occupational health and safety laws
• employment and discrimination laws
• intellectual property laws
• real property laws
• environmental laws
• insurance laws
• contract and ecommerce laws
• your industry’s standards and codes

No doubt there will be others that apply to your business. But you can’t manage your legal compliance if you don’t document it.

This article is available in full at Australian Regulatory Compliance Review.