The Trade Practices Act 1974 is an Australian law designed to promote fair trading and competition. It aims to protect consumers from misleading or deceptive conduct and to ensure businesses operate fairly. The Act covers various aspects of trade practices, including advertising, product safety, and consumer rights. This legislation established the Australian Competition and Consumer Commission (ACCC), which enforces the Act and promotes compliance among businesses. The Act has undergone several amendments to adapt to changing market conditions and consumer needs, ensuring ongoing protection for consumers and fostering a competitive marketplace.