Competition and Consumer (Price Inquiry—Retail Deposit Products) Direction 2023 (Cth)

Competition and Consumer (Price Inquiry—Retail Deposit Products) Direction 2023

I, Jim Chalmers, Treasurer, give the following direction to the Australian Competition and Consumer Commission.

Dated 14 February 2023

Dr Jim Chalmers Treasurer

Contents Part 1—Preliminary 1 Name 2 Commencement 3 Authority 4 Definitions Part 2—Price inquiry into retail deposit services 5 Commission to hold an inquiry 6 Directions on matters to be taken into consideration in the inquiry 7 Period for completing the inquiry

Part 1—Preliminary

1 Name This instrument is the Competition and Consumer (Price Inquiry—Retail Deposit Products) Direction 2023.

2 Commencement (1) Each provision of instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information Column 1 Column 2 Column 3 Provisions Commencement Date/Details 1. The whole of this instrument The day after this instrument is registered.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument. (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3 Authority This instrument is made under the Competition and Consumer Act 2010.

4 Definitions authorised deposit-taking institution has the meaning given by the Banking Act 1959. goods has the meaning given by subsection 95A(1) of the Act. inquiry has the meaning given by subsection 95A(1) of the Act. price has the meaning given by subsection 95A(1) of the Act. retail deposit product means a protected account (within the meaning of the Banking Act 1959) held by: (a) an individual whose dealings in relation to the account are for personal or housing purposes; or (b) the trustee of a self managed superannuation fund (within the meaning of the Superannuation Industry (Supervision) Act 1993). services has the meaning given by subsection 95A(1) of the Act. State or Territory authority has the meaning given by subsection 95A(1) of the Act. supply has the meaning given by subsection 95A(1) of the Act. the Act means the Competition and Consumer Act 2010