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Real Estate Focus - December 2024
December has been a very busy month, with a flurry of new government policies and consultations.
Australia | Publication | October 2023
On 12 October 2023, the Government introduced the Information Privacy and Other Legislation Amendment Bill 2023 (Bill) to Queensland Parliament which, amongst other things, establishes a mandatory data breach notification scheme (MDBN Scheme) in Queensland. The Bill is consistent with the recommendations in the Coaldrake Review and is currently under consideration by the Education, Employment and Training Committee.
It is unclear when the Bill will pass, however, if enacted, the MDBN Scheme will apply to all Queensland state and local government agencies that are subject to the Information Privacy Act 2009 (Qld) (Privacy Act). Notably, the Queensland government will take a phased approach to implement the MDBN Scheme and local councils will be subject to a 12-month transition period to mitigate the resourcing impacts and costs involved to comply with the scheme.
Non-compliance with the MDBN Scheme may result in a privacy complaint being made to the Minister, compliance action under the Privacy Act or an order by the Queensland Civil and Administrative Tribunal for compensatory payments to the individual affected.
If you have any queries in respect to the potential effect of the MDBN Scheme, please feel free to contact:
Publication
December has been a very busy month, with a flurry of new government policies and consultations.
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On 13 December 2024 the Financial Conduct Authority (FCA) published Primary Market Bulletin 53 (PMB 53) which includes confirmation of the final form of two new, and one amended, sponsor-related technical notes previously consulted on in PMB 50, and a consultation on various proposed changes to the technical and procedural notes in the FCA’s knowledge base.
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The Regulator has provided a link to its dashboard webinar held on November 26, 2024, which it urges scheme trustees to watch. The Money and Pensions Service also collaborated with the Pensions Dashboard Programme to host a “town hall” dashboard event on December 2, 2024.
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