Document ID: chunk:federal_register_of_legislation:F2021L01392:schedule:7
Version: federal_register_of_legislation:F2021L01392
Segment Type: schedule
Provision Reference: sch 7
Character Range: 103566–104885

Schedule 7—Transitional
Note: This Schedule commences on the day after this instrument is registered.

Competition and Consumer (Consumer Data Right) Rules 2020
Note: A set of joint account provisions in relation to the banking sector was included in the principal rules as made (Part 4 of Schedule 3)—this is the "original Part 4".
 The Competition and Consumer (Consumer Data Right) Amendment Rules (No. 3) (the "earlier amendment rules") replaced that Part in Schedule 3. That instrument also included the "earlier transitional provision".
 This amending instrument repeals the replaced Part 4 in Schedule 3 and inserts new, non-sector-specific joint account provisions in a new Part 4A in the body of the Act—this is the "new Part 4A".  Under clause 6.6 of Schedule 3, this will apply to the 4 initial data holders immediately.
 However, the earlier transitional provision allowed data holders to continue to apply the original Part 4 for some time.  This Schedule allows those data holders that took advantage of that transitional provision (in practice all 4 initial data holders) to continue to use the original Part 4 until 1 July 2022, when they must begin to comply with the new Part 4A.
 It also allows other existing data holders to choose to comply with the new Part 4A earlier than they are required to.