Federal Register of Legislation - Australian Government

Primary content

Regulations as made
This instrument amends the Competition and Consumer Regulations 2010 to change the date from which consumer data right obligations in relation to joint accounts will apply to non-major authorised deposit taking institutions.
Administered by: Treasury
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s12 item 16
Registered 01 Apr 2022
Tabling HistoryDate
Tabled HR26-Jul-2022
Tabled Senate26-Jul-2022
To be repealed 26 Oct 2022
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.

Commonwealth Coat of Arms of Australia

 

Competition and Consumer Amendment (Consumer Data Right Measures No. 1) Regulations 2022

I, General the Honourable David Hurley AC DSC (Retd), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 31 March 2022

David Hurley

Governor‑General

By His Excellency’s Command

Jane Hume

Minister for Superannuation, Financial Services and the Digital Economy

 

 

 

  

  


Contents

1............ Name............................................................................................................................. 1

2............ Commencement............................................................................................................. 1

3............ Authority....................................................................................................................... 1

4............ Schedules...................................................................................................................... 1

Schedule 1—Amendments                                                                                                                          2

Competition and Consumer Regulations 2010                                                                                2

 


1  Name

                   This instrument is the Competition and Consumer Amendment (Consumer Data Right Measures No. 1) Regulations 2022.

2  Commencement

             (1)  Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this instrument

The day after this instrument is registered.

2 April 2022

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under the Competition and Consumer Act 2010.

4  Schedules

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1Amendments

  

Competition and Consumer Regulations 2010

1  After regulation 28RA

Insert:

28RB  Modifications of certain provisions for parts of the banking sector

                   For the purposes of paragraph 56GE(2)(c) (modifications) of the Act, this regulation declares that the provisions of the Competition and Consumer (Consumer Data Right) Rules 2020 apply in relation to:

                     (a)  the classes of data holders referred to in subclause 6.6(1) of Schedule 3 to those Rules; and

                     (b)  the classes of CDR data referred to in that subclause;

as if that subclause were modified by replacing the commencement table in that subclause with the following:

 

Data holder

Data sharing obligations

Start date
to
31 Jan 2021

1 Feb 2021
to
28 Feb 2021

1 Mar 2021
to
30 Jun 2021

1 Jul 2021
to
31 Oct 2021

1 Nov 2021
to
31 Jan 2022

1 Feb 2022
to
30 Sept
2022

 

1 Oct 2022
 onward

Initial data holders (NAB, CBA, ANZ, Westpac branded products)

Part 2

All product phases

All product phases

All product phases

All product phases

All product phases

All product phases

All product phases

Part 3

Part 4

Phase 1
Phase 2

All product phases

All product phases

All product phases

All product phases

All product phases

All product phases

Any other relevant ADI and initial data holders for non‑primary brands

Part 2

Phase 1

Phase 1
Phase 2

Phase 1
Phase 2

All product phases

All product phases

All product phases

All product phases

Part 3

Part 4

Phase 1 JAE

CODE

Phase 1
Phase 2
 JAE

All product phases
JAE

All product phases

Accredited ADI and accredited non‑ADI (reciprocal data holder)

Part 2

All product phases

All product phases

All product phases

All product phases

All product phases

All product phases

All product phases

Part 3

Part 4

Phase 1 JAE

CODE

All product phases
JAE

All product phases
JAE

All product phases
JAE

All product phases