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Proposed 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 »

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Review 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 »

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Housing 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 »

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Consultaion 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 »

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Franchising 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.

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Appropriate 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.

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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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ISSB Consultation on agenda priorities

31 August 2023

ABA submission to the ISSB Consultation on Agenda Priorities.

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Climate-related financial disclosures, second-round consultation

21 July 2023

The ABA supports the introduction of mandatory climate-related financial disclosures aligned with the ISSB, and we feel that the proposed model generally strikes an appropriate balance. The submission makes key points across six areas: phased approach, reporting content, reporting location, assurance, continuous disclosure and the modified liability approach.

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ABA submission to ACCC retail deposits inquiry

17 July 2023

The ABA’s submission to the ACCC’s Retail Deposits Inquiry 2023. Australian banks continue to provide a competitive, dynamic, and innovative marketplace for deposits. Banks are also cognisant of the variety of uses for deposit accounts and strive to provide products and services that meet the needs of customers.

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