Treasury Laws Amendment (Consumer Data Right) Bill 2018 (second stage) and Designation Instrument for Open Banking

This consultation process has now been completed. Submissions available
Consultation Type
Draft Legislation

Key Documents

On 9 May 2018 the Government committed to implement the Consumer Data Right in line with the recommendations of the Review into Open Banking in Australia. The Consumer Data Right will give Australians greater control over their data, empowering customers to choose to share their data with trusted recipients only for the purposes that they have authorised.

The Government has today released for public consultation the second stage of exposure draft legislation and explanatory material giving effect to the announced measures, and the Designation Instrument for the application of the Consumer Data Right to the banking sector (Open Banking).

The revised definitions and Privacy Safeguards sections of the exposure draft, reflecting feedback from public consultation on the first tranche of draft legislation which was released on 15 August 2018.

The revised sections of the exposure draft legislation include the following measures:

  • Limiting the scope of the Bill in regards to rule-making powers requiring access to derived data. Rules can now only require data holders to allow customers access to derived data where the derived data is specifically included in a designation instrument;
  • Clarifying the interaction of the Privacy Safeguards with the Privacy Act, and narrowing their application to Data Holders so that they only apply in respect of the disclosure of data; and
  • Clarifying the operation of reciprocity.

Treasury is also seeking views on the following proposals

  • Introduction of further legislative consultation requirements for sectoral designation and rule-making; and
  • Introduction of limitations on the rule-making power in regards to charges for licenses to access and use data.

Treasury is also seeking views on the designation instrument for the banking sector (Open Banking).

The consultation period closes on 12 October 2018. Responses to this consultation will inform Regulation Impact Statement and Privacy Impact Assessment processes. 


25 submissions were received for this consultation.

AGL - pdf 164.09 KB
ANZ - pdf 171.85 KB
CHOICE - pdf 139 KB
Energy Australia - pdf 294.73 KB
Experian - pdf 277.96 KB
Moneytree - pdf 205.96 KB
NAB - pdf 861.45 KB
Optus - pdf 610.37 KB
Telstra - pdf 1.06 MB
Verifier - pdf 178.67 KB