Peter Whish-Wilson (Tasmania, Australian Greens) Share this | Hansard source

by leave—I move all Greens amendments on sheet 7841 together:

(1) Schedule 1, item 2, page 3 (after line 27), after subsection (2F), insert:

  (2G) In addition to the effect that this Act (other than Parts IIIA, VIIA and X) has as provided by another subsection of this section, this Act (other than Parts IIIA, VIIA and X) has, by force of this subsection, the effect it would have if:

(a) each reference in Part IVD to an ATM transaction were a reference to an ATM transaction that occurs:

     (i) by means of a postal, telegraphic, telephonic, or other like service (including electronic communication); or

     (ii) by means of an automatic teller machine provided by a bank (other than a State bank), or any other institution engaged in banking, in the course of banking (within the meaning of section 51(xiii) of the Constitution); and

(b) each reference to a corporation included a reference to a person not being a corporation.

(2) Schedule 1, item 3, page 10 (after line 32), after Part IVC, insert:

Part IVD—ATM transactions

Division 1—Preliminary

55P Object of this Part

     The object of this Part is to ensure that:

  (a) account holders are not charged for ATM transactions made using automatic teller machines owned or leased by the persons with whom their accounts are held; and

  (b) amounts charged for other ATM transactions:

     (i) are not excessive; and

     (ii) reflect the reasonable costs of allowing a person to make an ATM transaction.

55Q Definitions

     In this Part:

  ATM transaction means a cash deposit to, a cash withdrawal from, or an enquiry about the balance of, an account that is made by means of an automatic teller machine.

55R Part not to apply to State banking

     This Part does not apply with respect to State banking that does not extend beyond the limits of the State concerned.

Division 2—Limit on charges for ATM transactions

55S Limit on charges for ATM transactions

No charges for ATM transactions made using own -branded ATMs

(1) A corporation must not, in trade or commerce, charge a person an amount (however described) for making an ATM transaction if:

  (a) the corporation is an ADI (authorised deposit-taking institution) for the purposes of the Banking Act 1959; and

  (b) the transaction relates to an account held by the person with the corporation; and

(c) the automatic teller machine used to make the transaction is owned or leased by the corporation.

ATM transactions made using foreign ATMs must not be excessive

(2) A corporation must not, in trade or commerce, charge a person an amount (however described) for making an ATM transaction that is excessive (see subsection (3)) if:

  (a) the corporation is an ADI (authorised deposit-taking institution) for the purposes of the Banking Act 1959; and

  (b) the transaction relates to an account held by the person with the corporation; and

(c) the automatic teller machine used to make the transaction is not owned or leased by the corporation.

(3) For the purposes of subsection (2), an amount charged for making an ATM transaction is excessive if the amount exceeds the amount permitted by a standard determined under section 18 of the Payment Systems (Regulation) Act 1998.

(4) For the purposes of subsection (3):

  (a) the Reserve Bank of Australia must ensure that there are at all times in force standards under section 18 of the Payment Systems (Regulation) Act 1998 permitting amounts for the purposes of subsection (3); and

  (b) the making of such standards is taken to be in the public interest; and

(c) an amount permitted for an ATM transaction must reflect the reasonable costs of allowing the person to make the transaction.

55T Acquisition of property

Scope

(1) This section applies to the following provisions of this Act:

  (a) section 55S;

  (b) any other provision to the extent to which it relates to section 55S.

Effect of provision

(2) The provision has no effect to the extent (if any) to which its operation would result in the acquisition of property (within the meaning of paragraph 51(xxxi) of the Constitution) otherwise than on just terms (within the meaning of that paragraph).

(3) Schedule 1, item 4, page 11 (line 2), after "55B,", insert "55S,".

(4) Schedule 1, item 5, page 11 (after line 5), after subparagraph (ia), insert:

     (ib) section 55S;

(5) Schedule 1, item 6, page 11 (line 7), after "55B,", insert "55S,".

(6) Schedule 1, item 7, page 11 (line 9), after "55B,", insert "55S,".

(7) Schedule 1, item 8, page 11 (after line 12), after subparagraph (iia), insert:

     (iib) section 55S;

(8) Schedule 1, item 9, page 11 (line 14), after "55B,", insert "55S,".

(9) Schedule 1, item 10, page 11 (line 16), after "55B,", insert "55S,".

(10) Schedule 1, item 11, page 11 (line 18), after "55B", insert "or 55S".

(11) Schedule 1, item 12, page 11 (line 20), after "55B", insert "or 55S".

(12) Schedule 1, item 13, page 11 (line 22), after "55B", insert "or 55S".

(13) Schedule 1, item 14, page 11 (line 24), after "55B", insert "or 55S".

(14) Schedule 1, item 15, page 12 (line 3), after "55B,", insert "55S,".

(15) Schedule 1, item 16, page 12 (line 5), after "55B,", insert "55S,".

(16) Schedule 1, item 17, page 12 (line 12), after "55B", insert "or 55S".

(17) Schedule 1, item 18, page 12 (line 19), after "55B", insert "or 55S".

As I made clear during our speech on the second reading, we support in every sense of the word the motivation behind this bill—the response to the public outcry over excessive fees being charged when using credit cards for a range of different services. I raised with the minister the issue that banks are making around $600 million a year in profits from ATM fees. If credit card operators are not allowed to make a profit from the use of the card, neither should banks. Does the minister agree with that in terms of ATMs? We use credit cards for ATMS.