Gateway Network Governance Body Limited

Summary

On 29 April 2021 Gateway Network Governance Body Ltd (GNGB) applied for revocation of authorisations A91548 and A91549 and substitution for a new authorisation for similar conduct for a further five year period.

In 2016 the ACCC granted authorisation to the Association of Superannuation Funds of Australia (ASFA) for certain stewardship arrangements for the Superannuation Transaction Network (STN). GNGB was established to exercise oversight over the STN, as contemplated in the 2016 authorisations.

GNGB seeks reauthorisation on behalf of itself and Gateway Operators to continue to make and give effect to the amended Memorandum of Understanding For participants in the Superannuation Transaction Network (Revised MoU).

The new authorisation application aims at facilitating a more consultative process between GNGB and the Gateway Operators, with the most substantive changes allowing the GNGB Board to expand the scope of its activities in future, simplifying the dispute resolution process, and streamlining the process for assessment of breach events and determination of remedies.

The ACCC is seeking submissions on the application. An indicative timetable for the ACCC’s assessment is set out below.

Indicative date

Stage in assessment process

29 April 2021

Lodgement of application and supporting submission.

10 May 2021

Public consultation process begins.

31 May 2021

Closing date for submissions from interested parties.

June 2021

Applicant responds to issues raised in the public consultation process.

June/July 2021

ACCC decision regarding draft determination.

July 2021

Public consultation on draft determination including any conference if called.

July/August 2021

Final determination.

 

Applicant(s)

  • Gateway Network Governance Body Limited

Authorisation number(s)

  • AA1000552-1

Applications

Document title Date

Consultations

Submissions - before draft decision