Document ID: chunk:federal_register_of_legislation:F2024C01258:clause:4_4:p25
Version: federal_register_of_legislation:F2024C01258
Segment Type: clause
Provision Reference: sch 4 cl 4 (pt 25/75)
Character Range: 109761–112438

data standards; and
 (b) include in the disclosed data any required product data that is:
 (i) the subject of the product data request; and
 (ii) contained:
 (A) on the data holder's website; or
 (B) in a disclosure document that relates to the product.
Note 1: See rule 1.7 for the meaning of "required product data".  See also:
                  for the banking sector—clause 3.1 of Schedule 3;
                  for the energy sector—clause 3.1 of Schedule 4.
Note 2: This subrule is a civil penalty provision (see rule 9.8).
Note 3: A fee cannot be charged for the disclosure of required product data: see section 56BU of the Act.
 (4) If:
 (a) a data holder (the first data holder) receives a request for CDR data that relates to a product (the relevant product); and
 (b) the first data holder offers the relevant product on behalf of another data holder (the second data holder), such that the second data holder is the data holder that enters into contracts with consumers to provide the relevant product;
  the first data holder is not required to disclose the requested required product data under subrule (3).
 (5) If:
 (a) the second data holder receives such a request; and
 (b) the data holders have agreed in writing that, in such a case, the first data holder will disclose the requested required product data;
  then:
 (c) subrule (3) applies as if:
 (i) it permitted the CDR data to be disclosed through the first data holder's product data request service; and
 (ii) in the case that the first data holder disclosed CDR data in response to the request―the reference to the data holder's website in sub‑subparagraph (3)(b)(ii)(A) was to the first data holder's website; and
 (d) rule 2.6 applies as if it applied in relation to each of the first data holder and the second data holder.
 (6) In this rule, disclosure document includes:
 (a) a Product Disclosure Statement within the meaning of the Corporations Act 2001; or
 (b) a key facts sheet within the meaning of the National Consumer Credit Protection Act 2009; or
 (c)  a similar document that is required by law to be disclosed to a customer prior to entering into a contract with that customer.

2.5  Refusal to disclose required product data in response to product data request
 (1) Despite subrule 2.4(3), the data holder may refuse to disclose required product data in response to the request in circumstances (if any) set out in the data standards.
 (2) The data holder must inform the requester of such a refusal in accordance with the data standards.
  Civil penalty:
 (a) for an individual―$50,000; and
 (b) for a body corporate―$250,000.

2.6  Use of data disclosed pursuant to product data