Document ID: chunk:federal_register_of_legislation:F2024C01258:clause:3_5:p4
Version: federal_register_of_legislation:F2024C01258
Segment Type: clause
Provision Reference: sch 3 cl 5 (pt 4/5)
Character Range: 417200–419803

not need to notify the CDR consumer again before collecting further data in accordance with the collection consent.

    Conditions involving request for consent
 (2A) For subparagraph (1)(d)(ii), the conditions are that:
 (a) the accredited person is supplying the product to the CDR consumer; and
 (b) the accredited person has requested the CDR consumer to consent to the accredited person changing from an accredited data recipient of the relevant CDR data to a data holder of the relevant CDR data; and
 (c) the accredited person has informed the CDR consumer:
 (i) that, if the consumer consents to that change, the privacy safeguards applicable to a data holder (rather than those applicable to an accredited data recipient) would apply to the accredited person in relation to the relevant CDR data; and
 (ii) of the manner in which the accredited person proposes to treat the relevant CDR data; and
 (iii) why the accredited person was entitled to request the consumer's consent to the change; and
 (iv) of the consequences of the consumer not giving their consent to the change; and
 (d) the CDR consumer has consented.

Related modifications of these rules
 (3) If a person becomes a data holder, rather than an accredited data recipient, of CDR data as a result of subsection 56AJ(4) of the Act and this clause:
 (b) for paragraph 4.26(1)(h) of these rules, any authorisations to disclose CDR data in relation to the consumer data request expire; and
 (c) if the person's accreditation has been surrendered or revoked, the following do not apply to the person in relation to that CDR data:
 (i) subrule 5.23(2);
 (ii) paragraph 5.23(3)(b).

7.3  Streamlined accreditation—banking sector
  For paragraph 5.5(b) of these rules, for the banking sector, the criteria for streamlined accreditation are that the accreditation applicant:
 (a) is an ADI; but
 (b) is not a restricted ADI.

7.4  Exemptions to accreditation criteria—banking sector
 (1) This clause sets out how the accreditation criteria operate in relation to the banking sector, for the purposes of rule 5.12 of these rules.
 (2) An accredited person that:
 (a) is an ADI; but
 (b) is not a restricted ADI;
  need not comply with paragraph 5.12(2)(b) of these rules.

7.5  Grounds for revocation, suspension and surrender of accreditation—banking sector
  For item 5 of the table in rule 5.17:
 (b) the relevant condition is that the accredited person was, at the time of the accreditation, an ADI; and
 (c) the accredited person ceases to satisfy the condition if  its authority to carry on banking business is no longer in force.