- CDR proposals for further consultation - PDF 381KB
- CDR proposals for further consultation - DOCX 293KB
- Treasury Laws Amendment (Consumer Data Right) Bill 2018 – Provisions for further consultation - PDF 486KB
- Treasury Laws Amendment (Consumer Data Right) Bill 2018 – Provisions for further consultation - DOC 214KB
- Explanatory Materials (Provisions for further consultation) - PDF 681KB
- Explanatory Materials (Provisions for further consultation) - DOCX 117KB
- Open Banking Designation Instrument - PDF 48KB
- Open Banking Designation Instrument - DOCX 112KB
- Explanatory Statement (Open Banking Designation Instrument) - PDF 42KB
- Explanatory Statement (Open Banking Designation Instrument) - DOCX 42KB
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.
- AGL - PDF 164KB
- ANZ - PDF 172KB
- Australian Banking Association - PDF 232KB
- Australian Communications Consumer Action Network - PDF 262KB
- Australian Financial Markets Association - PDF 139KB
- Australian Information Industry Association - PDF 186KB
- Australian Privacy Foundation - PDF 258KB
- Australian Retail Credit Association - PDF 355KB
- Business Council of Australia - PDF 468KB
- CHOICE - PDF 139KB
- Commonwealth Bank of Australia - PDF 2MB
- Consumer Policy Research Centre - PDF 4MB
- Customer Owned Banking Association - PDF 217KB
- Energy Australia - PDF 295KB
- Energy Consumers Australia - PDF 1MB
- Experian - PDF 278KB
- Financial Rights Legal Centre - PDF 110KB
- Insurance Council of Australia - PDF 85KB
- Moneytree - PDF 206KB
- Mortgage and Finance Association of Australia - PDF 573KB
- NAB - PDF 861KB
- Optus - PDF 610KB
- SunTec Business Solutions - PDF 394KB
- Telstra - PDF 1MB
- Verifier - PDF 179KB