Exemption for Bendigo and Adelaide Bank Limited

On 14 December 2023, the Australian Competition and Consumer Commission (ACCC) granted an exemption under section 56GD of the Competition and Consumer Act 2010 (Cth) (the Act) to Bendigo and Adelaide Bank Limited (BABL) deferring certain consumer data sharing obligations in relation to its Rural Bank brand until 30 November 2024, and in relation to its Adelaide Bank brand until 30 June 2024 for new and refinanced brokered customers and until 31 December 2025 for existing brokered customers and white-labelled products. The ACCC granted the exemption in response to an application from BABL.

The ACCC also partially revoked the exemption granted under section 56GD of the Act to BABL on 21 September 2022. The clauses of the exemption instrument dated 22 September 2022 which exempt BABL’s Bendigo Bank brand from certain consumer data sharing obligations are not affected.