On 14 February 2022, Minister Hume announced the commencement of a statutory review on the operation of the Consumer Data Right (CDR).
The review is initiated under section 56GH of the Competition and Consumer Act 2010 and will explore the extent to which implementation of the CDR statutory framework supports the core policy objectives of driving value for consumers, increasing competition within designated sectors, and driving innovation across the data services sector.
The review will focus on implementation of Open Banking and the introduction of rules to cover the energy sector from late 2022 and consider other relevant CDR developments, such as the Digital Economy Strategy, the Government response to the final report of the Inquiry into Future Directions for the Consumer Data Right, the Consumer Data Right Strategic Assessment, and international developments.
The Government has appointed Ms Elizabeth Kelly PSM, a former longstanding senior public servant, to lead the review. To support Ms. Kelly with the conduct of the Review a small Secretariat from within Treasury has been established.
The review will be completed in July 2022 and be supported by a public consultation process that will invite submissions on issues raised in the Terms of Reference.
Questions regarding the review can be emailed to CDRStatutoryReview@treasury.gov.au
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