Document ID: chunk:federal_register_of_legislation:F2021L01392:clause:7_5
Version: federal_register_of_legislation:F2021L01392
Segment Type: clause
Provision Reference: sch 7 cl 5
Character Range: 107981–108479

5  Application of new Part 4A to existing account with other data holder
 (1) This item applies in relation to a joint account, with a data holder other than an initial data holder, that is in existence immediately before the Part 4A day.
 (2) On and from the Part 4A day, the pre-approval option applies to the account.
 (3) In this item:
Part 4A day means:
 (a) if the data holder makes an election under item 3—the day on which the data holder makes the election; and
 (b) otherwise—1 July 2022.