Document ID: chunk:federal_register_of_legislation:F2021L01392:clause:4_14:p5
Version: federal_register_of_legislation:F2021L01392
Segment Type: clause
Provision Reference: sch 4 cl 14 (pt 5/8)
Character Range: 62946–65677

which disclosure option currently applies to the account; and
 (c) inform them that account holder A has proposed that the co-approval or pre-approval option apply to the account, as the case may be; and
 (d) explain to them that this change requires the agreement of all account holders; and
 (e) explain to them any alternative options for change that are available and how they can be made; and
 (f) invite them to either agree to or reject the proposal within a specified period.
Note: This subrule is a civil penalty provision (see rule 9.8).
 (3) At the end of the specified period, the data holder must, as soon as practicable through its ordinary means of contacting the joint account holders, inform them whether:
 (a) all the joint account holders have approved the change, and as a result the new disclosure option applies to the joint account; or
 (b) not all the joint account holders have approved the change, and as a result the disclosure option is unchanged.
Note: This subrule is a civil penalty provision (see rule 9.8).

Division 4A.3—Consumer data requests that relate to joint accounts

Subdivision 4A.3.1—Preliminary

 4A.9 Application of Division
 (1) This Division applies in relation to a consumer data request to a data holder under Part 4 where the CDR data requested includes joint account data.
 (2) If the CDR data requested includes joint account data in relation to more than one joint account, this Division applies separately in relation to each such joint account.
 (3) In this Division a reference to a consumer data request is a reference to the consumer data request only to the extent that it relates to a particular joint account.

Subdivision  4A.3.2—How consumer data requests to data holders under Part 4 that relate to joint accounts are handled

4A.10  How data holder is to deal with a consumer data request
 (1) This rule applies when the data holder receives a consumer data request to which this Division applies.
Note: Under rule 4A.5, data holders are required to offer the pre-approval disclosure option, which applies by default.  Data holders may, but are not required to, offer the co-approval option.

Pre-approval option
 (2) If the pre‑approval option applies to the joint account, rules 4.5 to 4.7 apply subject to subrule (3).
 (3) If a relevant account holder has withdrawn their approval using their consumer dashboard, the data holder must not disclose any, or any further, requested CDR data.

Co‑approval option
 (4) If the co‑approval option applies to the joint account, the data holder must, subject to subrule (5):
 (a) ask the requester for authorisation in accordance with rule 4.5 and Division 4.4; and
 (b) if the authorisation is given, invite the approval