IIA chief executive, Peter Coroneos said: "Our Code is intended to position Australian businesses who deal with personal information, particularly - but not only - over the internet, as trusted people to deal with. In the end, we support the view that good privacy is good for business. So everyone benefits."
"The Code's enforceability through the government backed co-regulatory regime is to our knowledge a world first in privacy protection, at least as far as the on-line industry is concerned. We are therefore hoping to provide Australian businesses who subscribe to our Code with a global competitive advantage, while at the same time bringing more confidence back into the market."
Three areas are covered by the draft Code: the protection of personal information from or about children, the use of direct marketing on-line (the Code favours permission based models), and providing additional limits on the use, collection, and disclosure from known residents of the EU. Australian businesses must meet a higher standard of privacy in some areas in dealing with EU residents than the standards which Australian law provides.
The launch of the draft Code last week marked the start of a seven week consultation period leading up to the formal submission of the Code for registration by the Federal Privacy Commissioner.