Website review checklist

Most credit unions and building societies have a website. Are you up to date with recent changes in the law?

Have you included the right legal terms and conditions of use?

Have you included the required disclosures under the Consumer Credit Code (for your credit products) and under the Corporations Act (for your deposit and advice products)?

Are you aware of the changes in the law that will allow you to streamline your customer processes?

Doing business on-line requires compliance with e-business rules as well as the standard laws.

In managing a website, you need legal advice on a range of issues:

• ownership and protection of your domain name, logo and trade mark;
• ownership of the design and content of your Website;
• contracting with a developer and Internet Service Provider;
• rights to use software and ordering and billing processes;
• terms of use of your Website;
• privacy policy and collection of personal information;
• dealing with search engines and linking;
• advertising arrangements;
• liability issues;
• consumer rights;
• security issues;
• jurisdictional issues;
• defamation issues;
• disclosure of your business details;
• the enforceability of on-line contracts.

Companies put a lot of effort into making sure that their web site is effective. But in addition to making the site look and work properly, it's equally important that you comply with the wide range of laws imposed on web sites in Australia.

If you are APRA-regulated then in addition to the other applicable laws your website needs to satisfy the corporate governance standards and have regard to the ASX Governance Council Corporate Governance Principles and Recommendations.

If you are fundraising online then you need to comply with ASIC's policies.

And from the end of the September 2008 quarter you need to make website disclosures about capital and credit management issues under APS 330.