Major banks and supermarket chains are warning the workplace umpire’s intervention into crisis talks to fund cash-in-transit business Armaguard would have far-reaching effects for commercial deals and competition, including potentially fixing prices for the industry.
Ahead of a Fair Work Commission hearing on Tuesday, Coles said the Transport Workers Union’s application for orders that Armaguard’s customers contribute their “fair share” goes beyond the Fair Work Act’s objectives, while the Reserve Bank, which is facilitating funding talks, has sought to avoid getting pulled into “onerous” orders.
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