Share on LinkedInShare on LinkedIn

ARTICLE · 19 DECEMBER 2018

Australian Consumer Data Right Law: What You Need To Know

The Australian Government has released draft legislation which proposes to provide new rights for consumers and small businesses to their data from July 2019.

United StatesPrivacy

Background information

Introduction - Open Banking and the Data Economy on its way

The Australian Government has released draft legislation which proposes to provide new rights for consumers and small businesses to their data from July 2019. The Treasury Laws Amendment (Consumer Data Right) Bill 2018 (Cth) (Bill) proposes a new "Consumer Data Right" (CDR). The legislation will have a major impact on the banking immediately, but soon also in the energy and telecommunications sectors. And it will have broad extra territorial reach as it will apply to CDR data generated or collected both in and outside Australia.

The regime aims to give more control to customers over data held about them. It will start a new era of Open Banking and reflects that Australia values a data economy and sees that as a way to enhance competition and innovation in banking, energy and telecommunications as it will make it easier for consumers to change suppliers. Consumers will be able to

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

About Dentons

Dentons is the world's first polycentric global law firm. A top 20 firm on the Acritas 2015 Global Elite Brand Index, the Firm is committed to challenging the status quo in delivering consistent and uncompromising quality and value in new and inventive ways. Driven to provide clients a competitive edge, and connected to the communities where its clients want to do business, Dentons knows that understanding local cultures is crucial to successfully completing a deal, resolving a dispute or solving a business challenge. Now the world's largest law firm, Dentons' global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size in more than 125 locations serving 50-plus countries. www.dentons.com.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See more popular content from