A bill amending the Competition and Consumer Act, transferring Consumer Data Right rule-making from the ACCC to the Treasurer, was introduced yesterday.

Ostensibly, the government’s move is in response to concerns that the regulation of CDR is too fragmented, with Treasury, the Office of the Australian Information Commissioner and Consumer Data Standards involved alongside the ACCC.

However, it is also consistent with Treasurer Josh Frydenberg’s recent comments that “regulators must pursue their mandates in a manner that is consistent with the will of the parliament”.

Speaking at the AFR Banking and Wealth Summit last month, Frydenberg said: “There need to be mechanisms to hold them [regulators] to account. It is the parliament who determines who and what should be regulated. It’s the role of regulators to deliver on that intent, not to supplement, circumvent or frustrate it.”

Under CDR arrangements that have applied to date, the minister must consult with the ACCC before designating a sector for coverage. And the ACCC may make rules for designated sectors.

The only designated sector covered by CDR currently is banking. The energy sector is the next cab off the rank.

Under the terms of the amendment, included in Treasury Laws Amendment (2020 Measures No.6) Bill 2020, the secretary of Treasury will arrange a sectoral assessment and inform the minister, who will designate sectors.

The minister will take over the rule-making responsibility, following consultation arranged by the secretary of the department. The government will consult with the ACCC and the Information Commissioner as part of the process.

The bill makes a few other changes to the CDR regime, including a provision that a data holder cannot charge a fee for disclosing data, unless the data is listed as “chargeable data”.