Statutory Review of the Meetings and Documents Amendments
26 July 2024
Banks continue to strongly support measures to allow companies and registered schemes to fulfil their legal obligations to hold meetings and execute documents using electronic means under the Corporations Act 2001 (Cth). The ABA makes four key recommendations, including providing optionality for companies to host AGMs in either hybrid or wholly online formats; amendments to... Read more »
Download PDFIndependent Review of Australia’s Credit Reporting Framework
7 June 2024
The ABA continues to support Australia’s credit reporting framework, which has benefits for both consumers seeking to build creditworthiness and providers of credit information in supporting a more comprehensive assessment of credit applications. The ABA makes 16 recommendations to the Review to improve the effectiveness of the Framework and support its expansion to all Buy... Read more »
Download PDFABA submission on the Help to Buy Scheme program directions
24 May 2024
The Australian Banking Association welcomes the opportunity to provide feedback on the Help to Buy Scheme program directions. Home ownership remains an important financial and lifestyle goal for many Australians and policies that facilitate affordable and sustainable home ownership should remain at the centre of Australia’s housing policy agenda. The ABA notes the purpose of... Read more »
Download PDFProposed amendments to the Electronic Conveyancing National Law
9 February 2024
The ABA supports in principle the inclusion of compliance powers in the Electronic Conveyancing National Law (ECNL). However, the ABA considers it critical that the Australian Registrars National Electronic Conveyancing Council (ARNECC) is constituted with the appropriate understanding of the technical and operational details of interoperability, including financial settlement, to enforce its proposed new powers... Read more »
Download PDFReview of the Regional Investment Corporation Act 2018
15 December 2023
The ABA acknowledges the intent of the RIC in supporting agribusinesses during periods of difficulty, such as natural disaster and drought. While the ABA acknowledges these additional loan categories may be valuable to eligible farmers, we note the RIC was first set up for the purpose of supporting drought affected farmers who may not have... Read more »
Download PDFHousing Australia Investment Mandate Direction
8 November 2023
The ABA continues to support establishment of the Housing Australia Future Fund as a mechanism to provide a sustainable funding source to support and increase the development of social and affordable housing during a critical period of lower than required housing supply. The ABA acknowledges that other industry factors such as planning, and the cost... Read more »
Download PDFConsultaion Draft 7.2 of the Model Operating Requirements
31 October 2023
The ABA acknowledges the work of ARNECC to date in developing the interoperability program. We continue to support the intention of interoperability on the basis that eConveyancing transactions under interoperability are substantively like those under a non-interoperable framework. However, the ABA has significant concerns that the interoperability program will be impacted by the failure to... Read more »
Download PDFFranchising Review
16 October 2023
ABA members are committed to the success of Australia’s franchisors and franchisees, who play an important role in our economy. The ABA supports retention of the Franchising Code of Conduct and the Franchise Disclosure Register and acknowledges the important role these tools have in protecting both franchisors and franchisees, which are often small businesses. Entering a franchising arrangement is a significant legal and financial undertaking and it is sometimes the case that individuals who are attracted to franchising are also newer to business. Franchisees should be encouraged to undertake due diligence to ensure they are well informed about the risks and responsibilities, as well as their rights, prior to entering into their chosen franchising agreement.
Download PDFAppropriate Lending Approach to Small Business
16 October 2023
The provision of credit to small business is critical to the success of the economy and the prosperity of Australians, and ABA members are committed to the success of Australia’s small business sector. The ABA acknowledges AFCA’s work in developing a public approach to small business lending and understands that AFCA’s intention in publishing its approach to small business is to aid small business borrowers and lenders in understanding how AFCA currently approaches its determinations. However, there is a likelihood that the degree of prescription AFCA adopts in the draft SME Approach may have this effect and introduce a level of detail that goes beyond existing requirements under laws, standards, and codes. We urge AFCA to adopt a principles-based approach based on established principles, standards, and requirements in small business lending, such as the BCOP, to ensure that lending to small businesses is not restricted and is consistent with existing requirements.
Download PDFCONSULTATION ON DRAFT VERSION 9 OF THE REGISTRAR’S REQUIREMENTS
10 October 2023
The ABA has concerns with the proposed Registrar’s Requirements and their impact on the Memorandum of Common Provisions (MCPs). We respectfully request that LUV reconsider the adoption of the proposed Registrar’s Requirement 19. This change phases out of the use of already registered and long-established MCPs across industry, with little policy justification. The ABA maintains... Read more »
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