How has statutory intervention allowed for rescission for misrepresentation? Which of the following is correct?

Contract law remains a common law concept and the ability to rescind a contract is left to the courts to determine, noting that consumer law does allow for damages for breach of contractLegislation in Australia provides for a prohibition on misrepresentation but does not provide any remedies when it occursCertain Australian jurisdictions have passed legislation which allows for rescission or damages where rescission is not possibleUnder Australian legislation there are now criminal sanctions which can be invoked against a party making false statements which amount to misrepresentation, this displaces the civil proceedings that a party might have taken under previous law