Description of Conduct
On 27 March 2024, the ABA applied to the ACCC seeking authorisation to enable two or more of the ABA, the Major Banks, other Member Banks and/or other Proposed Authorised Parties to discuss, share information and/or reach agreement on business continuity measures. Authorisation was also sought for the implementation of those measures but only in the event of or reasonable anticipation of, a suspension, disruption or exit of Armaguard from the cash-in-transit industry.
Authorisation was sought until 30 June 2025.
On 28 March 2024, the ACCC granted interim authorisation with reporting and transparency conditions to ensure that the ACCC is informed of the progress of discussions, including consultation with stakeholders.
On 1 August 2024, the ACCC issued a draft determination proposing to grant authorisation in respect of the proposed arrangements until 30 June 2025.
Also on 1 August 2024, the ACCC revoked the interim authorisation with conditions dated 28 March 2024 and granted a new interim authorisation with conditions, to reflect the Proposed Conduct as sought to be varied by the applicant, and to clarify that certain parties (including the Customer Owned Banking Association) are covered by the interim authorisation.
On 12 September 2024, the ACCC issued a final determination granting authorisation with conditions, until 30 June 2025.
A copy of the ACCC’s final determination is available below.
Applicant(s)
- AUSTRALIAN BANKING ASSOCIATION LIMITED
Applications
| Document title | Date | |
|---|---|---|
| ABA letter – variation to application | ||
| Application |
Decisions
Consultations
Reporting
ACCC correspondence
| Document title | Date | |
|---|---|---|
| ACCC to Interested Parties re Final Determination |