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This page is about a bill. That means that it's not the law yet, but some people want it to be the law. It could change quickly, and some of the information is just a draft.

Customer and Product Data Bill

Regulated data services - Main obligations - Joint customers

21: How data holders and accredited requestors must deal with joint customers

You could also call this:

“Rules for dealing with customers who share accounts or products”

This part of the bill is about how companies (data holders) and people asking for information (accredited requestors) should work with joint customers. Joint customers are people who share a financial product or have rights under the same agreement.

The bill says that the government will make rules about how to handle requests or permissions from joint customers. These rules might say things like:

  • One joint customer can make a request or give permission without the others
  • Two or more joint customers need to act together to make a request or give permission
  • All joint customers must agree to make a request or give permission
  • Joint customers can’t make requests or give permissions at all

The rules might also let joint customers see or change how they can make requests or give permissions.

The government will decide exactly how this will work. They’ll make rules about when and how joint customers can ask for their information or give permission to share it. They’ll also say how companies should handle these requests and permissions.

This new rule will be more important than some other parts of the bill (Sections 14 to 20) when it comes to joint customers.

Remember, this is just a proposed law. It’s not the current law yet.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS791043.

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Part 2 Regulated data services
Main obligations: Joint customers

21How data holders and accredited requestors must deal with joint customers

  1. This section applies to a regulated data service provided in connection with 2 or more joint customers.

  2. A data holder and an accredited requestor must deal with the joint customers in the manner prescribed by the regulations, including in connection with the following:

  3. when or how the joint customers may or must make a request or give an authorisation under this subpart:
    1. how the data holder or accredited requestor may or must deal with a request or authorisation from 1 or more of the joint customers:
      1. when a request made, or an authorisation given, by 1 or more of the joint customers must be treated as effective (or ineffective) for the purposes of this Act.

        1. Regulations made for the purposes of this section may (without limitation) provide for any of the following:

        2. allowing or requiring a data holder or an accredited requestor to deal with a request or an authorisation in any of the following ways (on the terms and conditions (if any) specified in the regulations):
          1. that a request or an authorisation may be made or given by any 1 or more of the joint customers (without the other joint customers):
            1. that a request or an authorisation may be made or given only by 2 or more of the joint customers acting together:
              1. that a request or an authorisation may be made or given only if it is made or given by all of the joint customers acting together:
                1. that a request or an authorisation may not be made or given by or on behalf of the joint customers:
                2. allowing 1 or more joint customers to view or change permissions for how those joint customers may or must make a request or give an authorisation.

                  1. Sections 14 to 20 are subject to this section.

                  2. In this section, 1 or more customers are joint customers if—

                  3. they jointly hold a financial product issued by the data holder; or
                    1. they have rights or obligations under the same agreement with the data holder.

                      1. In subsection (5), financial product has the same meaning as in section 7 of the Financial Markets Conduct Act 2013.