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"In Australia the law relating to tortious liability for negligent misstatements is no longer the only law which has to be considered when advising a...

"In Australia the law relating to tortious liability for negligent misstatements is no longer the only law which has to be considered when advising a client in relation to the client's right to claim compensation against a person who either supplies inaccurate or misleading information or advice directly to the client, or supplies it to another party from which or from whom the client is subsequently able to gain access to that information or advice. If the inaccurate or misleading information or advice is initially provided 'in trade or commerce' and if the client suffers loss or damage because the client relied upon that information or advice, there is a potential cause of action open to the client under the Australian Consumer Law." 

Does this statement accurately reflect the current state of Australian law? (Give full reasons for your answer and be sure to refer to relevant case law and statutory provisions in support of those reasons.)

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