82At the end of clause 2.1 of Schedule 1

82  At the end of clause 2.1 of Schedule 1

Add:

Reporting periods

 (4) For this clause, subject to subclause (5), a reporting period for an accredited person is either a financial year or a calendar year, as determined for the accredited person by the Data Recipient Accreditor.

 (5) However the first reporting period for an accredited person is taken to be the period that: 

 (a) if the accreditation decision takes effect within 3 months before the end of a reporting period—starts on the day the accreditation takes effect and ends on the last day of the following reporting period; and

 (b) otherwise—starts on the day the accreditation decision takes effect and ends on the last day of that reporting period.

Example 1: For paragraph (a) if an accreditation decision takes effect on 30 May 2022, the first reporting period starts on 30 May 2022 and ends on 30 June 2023.

Example 2: For paragraph (b) if an accreditation decision takes effect on 1 January 2023, the first reporting period starts on 1 January 2023 and ends on 30 June 2023.