Mr. John Palmer:

In essence, in relation to the access to cash, the reason we want to regulate CITs is they are critical to the cash system. All of it is mainly about information. It is about knowing what is going on.

The independent ATM deployers, IADs, operate approximately two thirds of the ATMs in the country now, as they have taken them over from the banks because they were all formerly with the banks. A large part of that is about ensuring that the Central Bank has the right to require the relevant reporting it needs to operate the access-to-cash system. There are also other reasons we want them to be able to regulate ATM deployers, for instance, issues such as service standards and resilience. We would anecdotally hear stories about ATMs being out of use or out of service for long periods. It is about giving the Central Bank powers in such matters.