On August 15, 2018, the Treasury of the Australian government launched a public consultation on the draft Treasury Laws Amendment (Consumer Data Right) Act 2018, which aims to establish a new consumer data right (CDR) framework that enables consumers to have more control over their data and effectively use it for their own benefit.
The bill will mainly introduce amendments to the law pertaining to competition, fair trading, consumer protection and privacy. Therefore, changes will primarily affect the Competition and Consumer Act 2010, but will also amend the Privacy Act 1988 and the Australian Information Commissioner Act 2010.
Request a Free Trial
As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.Take a Trial