Transitional Period Rules For the purpose of this section, the transition date means 28 February 2025. Application to Banking Services This Code will apply to Banking Services for which you enter into an agreement with us on or after the transition date. For ongoing Banking Services that we were providing you as at the transition date or where documentation was sent to you before the transition date: (a) the Terms and Conditions of that Banking Service need not comply with this Code and will continue to apply even if they are inconsistent with this Code. If we provide you with revised Terms and Conditions after the transition date, those revised Terms and Conditions will comply with this Code; (b) this Code applies where it relates to matters that are not specifically dealt with in the Terms and Conditions of that Banking Service; and (c) this Code does not affect things we did in relation to that Banking Service before the transition date. If our Banking Service arrangements with you as at the transition date complied with the relevant previous version of the Code, they will continue to comply with this Code even if this Code would have required something to be done differently. Application to guarantees This Code will apply to every guarantee which you enter into on or after the transition date. For guarantees that you entered into before the transition date or where documentation was sent to you before the transition date: (a) the Terms and Conditions of that guarantee need not comply with this Code and will continue to apply even if they are inconsistent with this Code. If we provide you with revised Terms and Conditions after the transition date, those revised Terms and Conditions will comply with this Code; (b) if after the transition date we ask you to increase the limit of your guarantee, we will comply with the relevant provisions of this Code; (c) this Code applies where it relates to matters that are not specifically dealt with in the Terms and Conditions of that guarantee; and (d) this Code does not affect things we did in relation to the guarantee before the transition date. If our guarantee arrangements with you as at the transition date complied with the relevant previous version of the Code, they will continue to comply with this Code even if this Code would have required something to be done differently. 42 | ausbanking.org.au
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