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The federal opposition hopes that a commitment made by the government to amend the law will be honored, after the adoption Thursday of the Bill to Amend the Treasury Laws (Consumer Data Law).
The bill was pbaded without amendment, but Ghost Deputy Treasurer Stephen Jones said his party had obtained a "decisive commitment" from the government that would allow the consumer's right to consumer data protection (CDR). obtain the suppression of the consumer information.
The new legislation will give Australian consumers a "switch" to share data, Jones said in a statement.
Similar to a function of the General Data Protection Regulation (GDPR), the switch off would mean that a consumer will have the power to determine when a company should no longer hold its data.
See also: How the GDPR of Europe will affect Australian organizations
According to Jones, the amendments to be made will force the Australian Competition and Consumer Commission (ACCC) to set clear rules that require recipients of data to delete data when they receive a valid consumer request.
The government is committed to tabling an amendment after the winter holidays.
"This is a reform that has long been supported by consumer groups across Australia and its adoption during the next sitting period will be a great success," said Mr. Jones.
This is not the first time the Labor Party is promised amendments after pbading a bill. In December, when the federal government pbaded the Australian encryption laws, the Labor Party was lucky with the amendments on which it had built its hopes.
CDR has been touted as opening competition among banks, utilities and telecommunications providers, while allowing consumers to switch easily from one provider to another.
This will allow individuals to "own" their data by granting them open access to their banking, energy, telephone and Internet transactions, as well as having the right to control who can have them and who can use them.
The first sector to which the CDR will apply is finance, through an open banking regime. Under this mandate, scheduled for February 2020, ANZ, the Commonwealth Bank, NAB and Westpac will be required to give consumers better access to the information they hold; and the power to require those banks that they provide secure access to this information to trusted third parties.
As the banking sector is the first to break the ranks – three of the Big Four already have access to generic credit and debit card data, deposit accounts and transaction accounts via a programming interface (API) last month – During the brief consultation period, there was concern that the law would not be too applicable to sectors other than the banking sector.
Despite the concerns of the hearings regarding the adequacy of the privacy protections in the CDR, the hasty nature of the bill, On March 21, the Senate Committee on Economics Legislation recommended that the program focus on the banking sector and that the results of the PCD will serve organizations more than consumers.
"At the very least, it will improve existing arrangements, has the potential to protect and empower consumers, and stimulate competition and innovation," the committee said at the time. "The committee particularly welcomes the approval of the bill by innovative high-tech companies."
In justifying its reasoning in favor of adopting the only recommendation in the bill, the committee stated that provisions such as the establishment of rules under the bill would provide the opportunity to resolve the problems. as and when they arise.
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