26 Termination—cooling off period
(1) A franchisee may terminate an agreement (being either a franchise agreement or an agreement to enter into a franchise agreement) within 7 days after the earlier of:
(a) entering into the agreement; and
(b) making any payment (whether of money or of other valuable consideration) under the agreement.
(2) Subclause (1) does not apply to:
(a) the transfer or renewal of an existing franchise agreement; or
(b) the extension of the term or scope of an existing franchise agreement.
(3) If the franchisee terminates an agreement under subclause (1), the franchisor must, within 14 days, repay all payments (whether of money or of other valuable consideration) made by the franchisee to the franchisor under the agreement.
Civil penalty: 300 penalty units.
(4) However, the franchisor may deduct from the amount repaid under subclause (3) the franchisor’s reasonable expenses if the expenses or their method of calculation have been set out in the agreement.