It said that these changes are of key importance to organisations which collect and use personal information and data, including carriers and carriage service providers; content service providers; and those who engage in credit reporting and providers of credit.

According to Baker & McKenzie partner, James Halliday, the changes will bring about a more consent-based direct marketing system and change of relevance to offshore data.

"This is important because if a communications operator moves data offshore, and there is then a subsequent breach of privacy in relation to that data, the communications operator can be liable for the actions of the offshore agent," he said.

KPMG IT advisory director, Peter McNally, addressed the technology implications of the proposed bill.

He said organisations will have to know who has access to personal information within those companies, where it is located and how it is secured.