Australian Banking Association (CIT Initiatives and Business Continuity Planning)

Description of Conduct

On 18 October 2024, the Australian Banking Association (ABA) lodged an application for authorisation with the ACCC relating to cash in transit initiatives and business continuity measures. Under the application, the ABA is seeking revocation of authorisation AA1000664 and substitution of the authorisation suspended. The ABA is seeking authorisation for the ABA and two or more of the authorised parties to:

(a) engage in discussions and exchange information that is for the purposes of, and reasonably necessary for, developing and evaluating potential urgent responses to:

1. the viability of wholesale cash distribution in Australia
2. securing continued access by banks, retailers, other businesses and/or members of the public to retail cash services in one or more metropolitan and/or regional locations, and/or
3. supporting customers and businesses who use cash in the event of a suspension, disruption or exit of Armaguard's cash in transit services, and

(b) reach in-principle agreement on the form and content of any urgent industry responses to be pursued. Substitution would also provide this protection to these parties to implement business continuity measures in the event of, or in reasonable anticipation of, a suspension, disruption or exit of Armaguard's cash in transit services.

This application for revocation and substitution seeks to consolidate conduct which is authorised under two separate authorisations relating to the cash-in-transit industry (AA1000654 and AA1000664).The ABA submits that the Proposed Conduct is the same in all material aspects as the authorised conduct under those applications, except that the ABA proposes some modifications to the conditions of authorisation.

Authorisation is sought until 31 December 2025.

The ACCC invites the views of interested parties on this application. Submissions are requested by 15 November 2024. If you wish to make a submission in relation to this matter, please lodge it via this web form.

The ABA has requested interim authorisation to enable participants to engage in the proposed conduct while the substantive application for authorisation is being assessed by the ACCC.

An indicative timeline for the ACCC’s assessment is set out below.