What is the Treasury’s role?
The Treasury will oversee the development of the Consumer Data Right (CDR) legislation, with its design informed by the recommendations of the Open Banking Review and adopted by the Government.
The main tasks for the Treasury will be:
- Consulting on draft legislation
- Providing updates to the Minister on progress regarding implementation
- Providing advice to the Minister on future designated sectors
- Providing advice to the Minister on rules submitted by the ACCC for consent
The Treasury is an observer sitting on the Data Standards Body Advisory Committee.