Is referral selling illegal?

Under Australian Consumer Law, this kind of business conduct is illegal and can attract significant penalties. The maximum penalty for each offence is $500, 000 for an individual.

fairtrading.nsw.gov.au - Referral selling - NSW Fair Trading

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Referral selling is when a business persuades a consumer to buy goods or services with the promise of a rebate, commission or other benefit when the consumer provides information that helps the business sell to others, and that information results in sales. The consumer does not receive the promised benefit unless the information provided results in sales after the agreement is made. Under Australian Consumer Law, this kind of business conduct is illegal and can attract significant penalties. The maximum penalty for each offence is $500, 000 for an individual. Body corporates can be charged whichever is greater: $10 million, or

three times the value of the benefit received, or

10 per cent of annual turnover in the preceding year (if the Court cannot determine the benefit obtained from the offence). It’s not referral selling for a supplier to promise a benefit to customers for simply providing the names of prospective customers or helping the trader supply goods. It is only illegal when the promised benefit is dependent on a future event taking place after the agreement is made. See an example Bec wanted to join a gym but was worried about the cost. Before she signed up, the gym offered her a 25 per cent rebate on a 12 month membership if she gave the gym the names and phone numbers of five friends and those five friends took out a membership. This is illegal. If you believe a business has engaged in referral selling, contact us on 13 32 20 or make a complaint online. Further information Contact us Can’t find the information you’re looking for? Call us on 13 32 20 or submit an online enquiry. Who enforces Australian Consumer Law? The following agencies enforce provisions relating to consumer goods and services: Australian Competition and Consumer Commission (ACCC)

NSW Fair Trading, and

other State and Territory consumer protection agencies. The Australian Securities and Investments Commission (ASIC) is responsible for financial products and services. Except where otherwise noted, content on this site is licensed under a Creative Commons Attribution 4.0 International License. To view a copy of this licence, visit: https://creativecommons.org/licenses/by/4.0

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What is 10million in Indian Rupees?

1 crore We get 100 lakhs=10 million=1 crore. Therefore, 10 million is equivalent to 1 crore.

vedantu.com - How many crores make 10 million? - Vedantu

Hint: We first find the relation between crores and million. These measurement units are popular across different places. We find that 1 crore is equal to 100 lakhs and 1 million is equal to 10 lakhs. We use the unitary system, to find the value in crores for 10 million.

Complete step by step solution:

We need to convert the measurement unit by changing from million to crores. We find the relation between million and crores where 1 crore is equal to 100 lakhs and 1 million is equal to 10 lakhs. We already have that in the unitary system. The unitary method is a method in which we find the value of a unit and then the value of a required number of units. The unitary method is also used to find the value of a single unit from a given multiple.

We need the equivalent of 100 lakhs both in million and crores.

We already have that 1 crore is equal to 100 lakhs.

For millions we have 10 lakhs being equal to 1 million.

We need to find 100 million.

We multiply 10 with 10 to get the equivalent value.

Therefore, $10 imes 10=100$ lakhs are equal to 10 million.

We get $100 ext{ lakhs}=10 ext{ million}=1 ext{ crore}$.

Therefore, 10 million is equivalent to 1 crore.

Note: The million and crores are units of measurements being used in different systems of measurement. The former one is mainly used in the USA and the latter one is used in India. This unit is used in the normal or common measurement units. It can also be changed to other common measurement units using the relation in the metric system.

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