5Designation of sector subject to the consumer data right

5 Designation of sector subject to the consumer data right

(1) For paragraph 56AC(2)(a) of the Act: (a) information to which section 6, 7 or 8 applies is specified as a class of information; and (b) information to which section 9 applies does not fall within that class. (2) For paragraph 56AC(2)(b) of the Act, authorised deposit‑taking institutions are specified as persons who hold such information, or on whose behalf such information is held. (3) For paragraph 56AC(2)(c) of the Act, 1 January 2017 is specified as the earliest day applicable to the sector for beginning to hold such information.

Note: Paragraph 56AC(2)(d) of the Act provides that an instrument designating a sector may specify the classes of information for which a person may, in certain circumstances, charge a fee. This instrument does not specify any such classes of information. The information specified in this instrument will, therefore, not constitute chargeable CDR data within the meaning of subsection 56AM(1) of the Act.