The competition regulator has intervened in the acrimonious dispute between Armaguard and the big banks, swiftly using new powers to impose interim price controls on cash distribution to regulate the near-monopoly transporter controlled by trucking magnate and billionaire Lindsay Fox.
Australian Competition and Consumer Commission chairwoman Gina Cass-Gottlieb said the Cash Distribution Framework Act, which passed parliament in August, was designed to ensure the viability of transporting cash throughout the economy.
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