From:                                         Adjudication

Sent:                                           Monday, 8 December 2014 1:18 PM

To:                                               'philipyoung@westpac.com.au'

Subject:                                     Third line forcing notification N98026 lodged by Westpac Banking Corporation t/a St. George Bank [DLM=For-Official-Use-Only]

 

Security Classification:       UNCLASSIFIED For Official Use Only

 

Dear Mr Young

I refer to the third line forcing notification lodged with the Australian Competition and Consumer Commission (the ACCC) by Westpac Banking Corporation t/a St. George Bank on 2 December 2014.  It has been allocated the registration number N98026. The notification and this email will be placed on the ACCC’s public register which is available on the ACCC’s website.

The protection from legal action provided by the notification commences automatically 14 days after the lodgement date, unless the ACCC objects.

On the basis of the information that you have provided, and that the parties will disclose all relevant terms and conditions to customers, the ACCC does not object to the notification at this time.

If at any time circumstances change, or the ACCC receives further information, such that it is satisfied that the public benefits from the third line forcing conduct do not outweigh the public detriments, the ACCC may remove the protection provided by the notification.

 

Please contact Natalie Plumridge on (03) 9658 6523 or by email to adjudication@accc.gov.au if you have any questions about this matter.

 

Regards

 

Dr Richard Chadwick
General Manager | Adjudication Branch
Australian Competition & Consumer Commission
23 Marcus Clarke Street Canberra 2601 |
http://www.accc.gov.au