Linfox Armaguard Now Subject to Obligations Following Cash Distribution Framework Designation, ACCC Says
MT Newswires Live09-08 11:48
The Australian Competition and Consumer Commission (ACCC) said Tuesday that Linfox Armaguard is now subject to several obligations enforced by the regulator following its recent designation under the country's cash distribution framework.
The requirements include negotiating in good faith with customers about proposed services, complying with any arbitration provisions, providing service reports to the ACCC, and seeking the regulator's approval for standard terms.
The ACCC said it will start considering the exercise and use of its powers, with a view to supporting access to cash on affordable and reasonable terms, while taking into account the viability and operational efficiency of cash distribution services.
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