Document ID: chunk:federal_register_of_legislation:F2024C01258:clause:3_3:p1
Version: federal_register_of_legislation:F2024C01258
Segment Type: clause
Provision Reference: sch 3 cl 3 (pt 1/6)
Character Range: 388942–392701

3                                                                phase 3 product      (a) business finance;
                                                                                      (b) a loan for an investment;
                                                                                      (c) a line of credit (personal);
                                                                                      (d) a line of credit (business);
                                                                                      (e) an overdraft (personal);
                                                                                      (f) an overdraft (business);
                                                                                      (g) asset finance (including leases);
                                                                                      (h) a cash management account;
                                                                                      (i) a farm management account;
                                                                                      (j) a pensioner deeming account;
                                                                                      (k) a retirement savings account;
                                                                                      (l) a trust account;
                                                                                        (m) a foreign currency account;
                                                                                      (n) a consumer lease.

1.5  Meaning of trial product
 (1) For these rules, in relation to the banking sector, a product is a trial product if the product:
 (a) is a phase 1 product, a phase 2 product or a phase 3 product; and
 (b) is offered:
 (i) with the description "pilot" or "trial"; and
 (ii) with a statement of a period for which it will operate as a pilot or trial that ends no more than 6 months after the initial offering (the trial period); and
   (iii) on the basis that the number of customers supplied with the product for the purposes of the trial will be limited to no more than 1,000; and
 (iv) with a statement that the product may be terminated before the end of the trial period and that, if it is, the CDR data in relation to the product may not be available.
 (2) However, such a product ceases to be a trial product at the earlier of the following times:
 (a) the end of the trial period, if the product continues to be supplied or offered after the end of the trial period;
 (b) the time (if any) that the product is first supplied to more than 1,000 customers.

Part 2—Eligible CDR consumers—banking sector

2.1  Additional criteria for eligibility—banking sector
 (1) For subrule 1.10B(1), the additional criterion for a CDR consumer to be eligible, in relation to a particular data holder in the banking sector at a particular time, is that the account is set up in such a way that it can be accessed online.
Note: Subrule 1.10B(1) provides criteria for account holders and secondary users of the account to be eligible.
 (2) For subrule 1.10B(2), the additional criterion for a CDR consumer who is a partner in a partnership to be eligible, in relation to a particular data holder in the banking sector at a particular time, is that the partnership account is set up in such a way that it can be accessed online.
Note: For a partnership account, subrule 1.10B(2) provides criteria for persons who are partners in the partnership (but who need not themselves be account holders or secondary users) to be eligible.

2.2  Meaning of account privileges—banking sector
 (1) This clause is made for the purposes of the definition of