Document ID: chunk:federal_register_of_legislation:F2020L01688:clause:1_92:p1
Version: federal_register_of_legislation:F2020L01688
Segment Type: clause
Provision Reference: sch 1 cl 92 (pt 1/8)
Character Range: 85169–87928

92  Part 4 of Schedule 3
Repeal the Part, substitute:

Part 4—Joint accounts

Division 4.1—Preliminary

4.1  Purpose of Part
  Special rules apply in relation to consumer data requests under Part 4 of these rules under which there is a request for disclosure of CDR data that relates to one or more joint accounts within the banking sector. This Part sets out those rules.

4.2  Application of Part
Note: This Part does not apply to all joint accounts with data holders. This clause sets out the joint accounts to which this Part applies.
  This Part applies to a joint account with a data holder if all joint account holders are eligible in relation to the data holder.
Note: See subrule 1.7(1) for the meaning of "eligible". For the banking sector, see clause 2.1 of this Schedule for when a CDR consumer is eligible.

4.3  Simplified outline of this Part

      This Part does not apply to all joint accounts in the banking sector. Division 4.1 of this Part sets out, among other things, the joint accounts to which this Part applies.
      CDR data that relates to a joint account to which this Part applies can be disclosed under these rules only if, among other things, an available disclosure option applies to the account. Division 4.2 of this Part sets out:
             • what the available disclosure options are; and
             • an obligation for data holders to provide a service (a joint account management service) for all joint accounts to which this Part applies through which joint account holders can indicate the disclosure option they would like to apply to the account; and
             • when one joint account holder selects a disclosure option to apply to a joint account―a process by which the other joint account holders can select a disclosure option to apply; and
             • some associated notification requirements.
      All joint account holders must indicate that they would like the same disclosure option to apply to the joint account in order for the disclosure option to apply.
      When an accredited person makes a consumer data request under Part 4 of these rules on behalf of a CDR consumer, and the request includes CDR data relating to one or more joint accounts of which the CDR consumer is a joint account holder, Division 4.3 deals with how the request is processed.
      Division 4.3 also deals with how requests are processed when the accredited person makes a consumer data request on behalf of a secondary user of the joint account.

Division 4.2—Disclosure options, joint account management service and notification requirements

4.4  Simplified outline of this Division

      This Division sets out the disclosure options that can apply to a joint account. These disclosure options are relevant