Exemption for Macquarie Bank Limited

On 6 May 2021, the Australian Competition and Consumer Commission (ACCC) granted an exemption under section 56GD of the Competition and Consumer Act 2010 (Cth) to Macquarie Bank Limited (Macquarie Bank) deferring the commencement dates of its consumer data sharing obligations (all phases) and its direct-to-consumer obligations, for specific business banking account products, until 1 November 2022. The exemption granted also provides Macquarie Bank with a permanent exemption for specific grandfathered product portfolios.

The ACCC granted the exemption in response to an application from Macquarie Bank.