What are the policy aims of the Australian Consumer Law Competition (ACL)?

 What are two main sources of Consumer and Contract law as they operate within the Australian legal system?

Explain the key policy aims of the Insurance Contracts Act 1984. An example of a situation where one party fails to disclose material details relating to insurance could be a property claim where the insured failed to reveal they lived in a bush-fire zone. Refer to Part II of the Act and explain how this will impact on a property insurance claim. Justify your answer.

 The ACL is a single, national law, which applies in the same way nationally and in each State and Territory. It is the principal consumer protection law in Australia. Explain how this law and others are enacted by the Federal parliament. In your answer outline the steps that are taken for a bill to become a law. Refer to both Houses of Federal Parliament.