Type
Consumer data right exemption
Date
Trader
- National Australia Bank Limited
Summary
On 30 June 2022, the Australian Competition and Consumer Commission (ACCC) granted an exemption under section 56GD of the Competition and Consumer Act 2010 (Cth) (the CCA) to National Australia Bank Limited (NAB) to defer, in respect of information held in its UBank brand legacy core-banking system, for its UBank brand:
- consumer data sharing obligations in respect of joint accounts until 31 December 2022,
- consumer data sharing obligations in respect of closed accounts until 30 April 2023, and
- obligations that were the subject of the exemption from provisions of the CDR Rules granted to NAB on 7 October 2021 until 31 December 2022.
The ACCC granted the exemption in response to an application from NAB.
The ACCC also revoked the exemption granted under section 56GD of the CCA to NAB on 7 October 2021.