Closed Joint Accounts

Continuing obligations in relation to closed joint accounts

Data holders must support data sharing for closed accounts (subject to clause 3.2(4) and (5) of schedule 3). As such, data holders must continue providing services and complying with Part 4A or other rules as necessary in relation to closed joint accounts where all account holders remain eligible consumers under rule 1.10B and clause 2.1 of schedule 3. This includes continuing to provide:

• A disclosure option management service (r 4A.6)
• Approval notifications (r 4A.14)
• The ability to add or remove a secondary user instruction (r 1.13(e) and r 1.15(b)(ii)).