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Australian banks may be allowed to cooperate over cash-in-transit negotiations

( October 24, 2025, 00:47 GMT | Official Statement) -- MLex Summary: The Australian competition regulator is proposing to allow a coalition of Australian banks and other cash-industry businesses participants to develop ways to ensure continued distribution of cash across the country. In a statement Friday, the Australian Competition & Consumer Commission said that it has issued a draft determination proposing to authorize the Australian Banking Association and other relevant parties to “develop responses” to ensure continued public access to cash. The regulator said the draft decision comes with conditions, including requiring the development of “initiatives to protect access to cash in remote areas.” The regulator is also proposing to allow the banks and other parties to “take certain steps to ensure cash-in-transit services would continue if Armaguard's services were suspended.” Armaguard is the main national distributor of cash in Australia.The full statement follows; the draft determination is attached:...

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