Document ID: chunk:federal_register_of_legislation:F2020L01688:clause:1_92:p2
Version: federal_register_of_legislation:F2020L01688
Segment Type: clause
Provision Reference: sch 1 cl 92 (pt 2/8)
Character Range: 87636–90404

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 when an accredited person makes a consumer data request on behalf of one joint account holder or a secondary user under Part 4 of these rules.
      One is a pre‑approval option. If all joint account holders indicate that they would like a pre‑approval option to apply to a joint account, CDR data relating to the joint account can be disclosed in response to the request without the approval of the other account holder, but the other account holders can revoke the pre‑approval in relation to a particular consumer data request at any time.
      Another is a co‑approval option. If all joint account holders indicate that they would like a co‑approval option to apply to a joint account, CDR data relating to the joint account can be disclosed under these rules only with the approval of the all the account holders.
      Data holders must offer pre‑approval options on joint accounts, and may offer co‑approval options.
      Neither disclosure option applies to a joint account if:
             • the joint account holders indicate that they would like different disclosure options to apply to the account; or
             • any of the joint account holders do not indicate a disclosure option they would like to apply.
      For each joint account to which this Part applies, a data holder must offer a joint account management service that can be used by joint account holders to select and manage these disclosure options.

4.5  Disclosure options that can apply to joint accounts
 (1) For this Part, a pre‑approval option applies to a joint account at a particular time if, at that time:
 (a) all joint account holders have indicated that they would like that disclosure option to apply to the account; and
 (b) none has indicated that they no longer want that disclosure option to apply.
 (2) For this Part, a co‑approval option applies to a joint account at a particular time if, at that time:
 (a) that disclosure option is offered on the account; and
 (b) all joint account holders have indicated that they would like that disclosure option to apply to the account; and
 (c) none has indicated that they no longer want that disclosure option to apply.
 (3) For this Part, a disclosure option applies to a joint account if a pre‑approval option or a co‑approval option applies to the joint account.

4.6  Obligation to provide joint account management service

Obligation to provide joint account management service
 (1) For each joint account to which this Part