They have cut and pasted from some worldwide statement, means sweat FA here in AU.
Personally I think they better hope someone doesn't draw the ACCC's attention to it, may not go down so well. Its missing a number of key statements required in AU, but they may have a correct version in the docs you actually get with the bikes.
I'm not sure the ACCC really cares unless a company has multiple and significant breaches that are worthwhile taking court action against. Google the action against Ford as an example and the absolute fuckery they were allowed to get up to for year after year before action was taken.
Unfortunately what it boils down to is the ACCC just provides consumer advice and can do nothing in individual instances, regardless of whether the business is breaching the guarantee or not. The only recourse for individuals is to take action through the Civil Administrative Tribunal (which we don't have in TAS of course) or costly legal action.
The automotive industry is one of the biggest culprits of this and makes horrifying reading what some people have gone through.
I doubt global bike companies are really going to care if they're meeting their local requirements as the issue actually becomes one between the store and the consumer, not the manufacturer, so you have to take legal action against the LBS who in turn takes action against the manufacturer. It's a messed up system as who can be bothered taking a day off to go to small claims court for $3-500.
TL;DR - Cannondale buyers beware, their warranty gives you little to no protection.