On 7 October 2021, the Australian Competition and Consumer Commission (ACCC) granted an exemption under section 56GD of the Competition and Consumer Act 2010 (Cth) to National Australia Bank Limited (NAB) to defer, in respect of information held in its UBank brand legacy core-banking system, for its UBank brand:
- phase 2 consumer data sharing obligations, and
- obligations to develop additional Application Programming Interfaces (APIs) (being customer details, direct debits, scheduled payments, payees, and account details) for phase 1, 2 and 3 products
until 30 September 2022.
The ACCC granted the exemption in response to an application from NAB.