Document ID: chunk:federal_register_of_legislation:C2019A00063:clause:1_2
Version: federal_register_of_legislation:C2019A00063
Segment Type: clause
Provision Reference: sch 1 cl 2
Character Range: 147898–149144

2  Transitional—banking sector

Designating the banking sector
(1) Subsections 56AD(2) and (3) and sections 56AE and 56AF of the Competition and Consumer Act 2010 do not apply in relation to an instrument under subsection 56AC(2) of that Act that:
 (a) is to specify matters including:
 (i) one or more authorised deposit‑taking institutions (within the meaning of the Banking Act 1959); or
 (ii) one or more classes of authorised deposit‑taking institutions (within the meaning of the Banking Act 1959);
  as holding one or more classes of information (or on whose behalf such information is held); and
 (b) is to be made before the later of:
 (i) 1 July 2020; and
 (ii) the end of the 3‑month period starting on the day this Part commences.

Consumer data rules for the banking sector
(2) Section 56BQ of the Competition and Consumer Act 2010 does not apply in relation to consumer data rules to be made under subsection 56BA(1) of that Act to the extent that those rules:
 (a) relate to matters covered by an instrument under subsection 56AC(2) of that Act that is to be made as described in subitem (1); and
 (b) are made before the later of:
 (i) 1 July 2020; and
 (ii) the end of the 3‑month period starting on the day this Part commences.