Document ID: chunk:federal_register_of_legislation:F2024C01258:clause:3_5:p3
Version: federal_register_of_legislation:F2024C01258
Segment Type: clause
Provision Reference: sch 3 cl 5 (pt 3/5)
Character Range: 414641–417476

and Consumer (Consumer Data Right) Amendment Rules (No. 3) 2020 commenced.

6.7  Application of certain rules
 (1) In this clause, the affected provisions are provisions of these rules that impose obligations on data holders in relation to:
 (a) CDR consumers that are not individuals; or
 (b) partnerships; or
 (c) nominated representatives; or
 (d) secondary users.
 (2) The affected provisions apply in relation to initial data holders in respect of NAB, CBA, ANZ, Westpac branded products on and from 1 November 2021.
 (3) Otherwise, the affected provisions apply in relation to data holders on and from 1 November 2022.

Part 7—Other rules, and modifications of these rules, for the banking sector

7.1  Laws relevant to the management of CDR data—banking sector
  For paragraph (f) of the definition of "law relevant to the management of CDR data" in rule 1.7 of these rules, the Australian Securities and Investments Commission Act 2001 is a law relevant to the management of CDR data in relation to the banking sector.

7.2  Conditions for accredited person to be data holder
 (1) For the purposes of paragraph 56AJ(4)(c) of the Act, the following conditions are specified:
 (a) the accredited person is an ADI;
 (b) the accredited person has collected CDR data, or any data directly or indirectly derived from CDR data (together, the relevant CDR data), in accordance with a collection consent;
 (c) the accredited person reasonably believes that the relevant CDR data is relevant to its supply of a product to the CDR consumer, for that data;
 (d) either:
 (i) the conditions specified in subclause (2); or
 (ii) the conditions specified in subclause (2A).

   Conditions involving notification prior to first collection
 (2) For subparagraph (1)(d)(i), the conditions are:
 (a) either:
 (i) the accredited person is supplying the product to the CDR consumer; or
 (ii) the accredited person has received an application from the CDR consumer for the supply of the product to the CDR consumer, or is aware that the CDR consumer proposes to apply for the supply of the product; and
 (b) prior to the first collection of the relevant CDR data in accordance with the collection consent, the accredited person notified the CDR consumer that the accredited person would hold that data in accordance with the accredited person's usual data holding practices for consumer data.
Note:  If, prior to the first collection of the relevant CDR data, an accredited person has notified the CDR consumer in accordance with this subclause, the accredited person does 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