Document ID: chunk:federal_register_of_legislation:F2025L00272:clause:1_36:p1
Version: federal_register_of_legislation:F2025L00272
Segment Type: clause
Provision Reference: sch 1 cl 36 (pt 1/2)
Character Range: 53953–56439

36  After Part 7 of Schedule 3
Insert:

Part 8—Entities that move from NBL sector to banking sector

8.1  Moving from the NBL sector to the banking sector

Clause applies where data holder moves from NBL to banking sector
 (1) This clause applies where:
 (a) for the purpose of moving to the banking sector, a person ceases to be a data holder in the NBL sector at a particular time (the NBL exit time); and
 (b) at a time as soon as practicable thereafter (the transition time), the person becomes a data holder in the banking sector; and
 (c) immediately before the NBL exit time:
 (i) a request was on foot under Part 2 or 4 of these rules in respect of NBL sector data of the data holder; or
 (ii) a current authorisation or consent given under Part 4 of these rules in respect of NBL sector data covered by such a request was in existence.

Request taken to be made in respect of banking sector
 (2) The request, consent or authorisation mentioned in subclause (1) remains effective after the transition time as though it had instead been made on the basis that the data holder was in the banking sector, and the NBL sector data was banking sector data.
 (3) To avoid doubt, without limiting subclause (2):
 (a) these rules apply as though a reference in the request, authorisation or consent to the data holder and the CDR data in the NBL sector were a reference to the data holder and CDR data in the banking sector; and
 (b) the consent or authorisation does not expire merely because the data holder has ceased to operate in in the NBL sector.

Data holder must respond to the request
 (4) Despite anything else in this Schedule, the data holder must respond to the request in accordance with Part 2 or Part 4 as the case requires.
Note: If the data holder has become a restricted ADI, it will be an excluded ADI, and this provision will override clause 1.1A. If it becomes an unrestricted ADI, this provision will override the allowance of time in clause 6.9.

CDR consumer must be notified of change of sector
 (5) As soon as practicable after the transition time, the data holder must give a written notification to each CDR consumer in respect of whom a request mentioned in subclause (1) is on foot that:
 (a) the data holder has ceased to operate in the NBL sector; and
 (b) the data holder is now operating in the banking sector; and
 (c) the data requested is now banking sector data; and
 (d) the CDR consumer may, under rule 4.13, 4.20J or 4.25, choose to withdraw an