The ACCC has issued a draft determination proposing to grant authorisation with conditions to the Australian Banking Association, its member banks, and other industry participants to facilitate business continuity planning in the cash in transit industry.
The ACCC’s draft determination also proposes to allow the parties to implement business continuity measures in the event of, or in reasonable anticipation of, a suspension, disruption or exit of Armaguard’s cash-in-transit services.
“It is important that the parties continue their discussions so they can resolve or avoid potential impacts to businesses and consumers across Australia should there be any disruption to Armaguard’s services,” ACCC deputy chair Mick Keogh said.
The ACCC has also granted interim authorisation to the parties while the ACCC continues to assess the ABA’s applications. Interim authorisation was granted previously to the parties for similar conduct in March 2024.
The ACCC is now seeking submissions on its draft determination.