Commonwealth Coat of Arms of Australia

Competition and Consumer (External Dispute Resolution Scheme–Banking Sector) Instrument 2019

The Australian Competition and Consumer Commission makes the following notifiable instrument.

Dated this 3rd day of October 2019

Sarah Court

Commissioner

Contents

1 Name

2 Commencement

3 Authority

4 Definitions

5 Recognition of External Dispute Resolution Scheme

1 Name

This instrument is the Competition and Consumer (External Dispute Resolution Scheme–Banking Sector) Instrument 2019.

2 Commencement

This instrument commences on the day after registration on the Federal Register of Legislation.

3 Authority

This instrument is made under 56DA(1) of the Competition and Consumer Act 2010.

4 Definitions

In this instrument:

Act means the Competition and Consumer Act 2010.

banking sector means the sector designated by the Consumer Data Right (Authorised Deposit-Taking Institutions) Designation 2019.

5 Recognition of External Dispute Resolution Scheme

The Commission recognises the Australian Financial Complaints Authority as the external dispute resolution scheme for the resolution of disputes relating to the operation of the consumer data rules, or Part IVD of the Act, in relation to the banking sector and involving one or more of the following:

(a) CDR participants for CDR data;

(b) CDR consumers for CDR data;