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PRIVACY ACT 1988 - SECT 21J

Permitted CP disclosures between credit providers

Consent

             (1)  A disclosure by a credit provider of credit eligibility information about an individual is a permitted CP disclosure in relation to the individual if:

                     (a)  the disclosure is to another credit provider (the recipient ) for a particular purpose; and

                     (b)  the recipient has an Australian link; and

                     (c)  the individual expressly consents to the disclosure of the information to the recipient for that purpose.

             (2)  The consent of the individual under paragraph (1)(c):

                     (a)  must be given in writing unless:

                              (i)  the disclosure of the information to the recipient is for the purpose of assessing an application for consumer credit or commercial credit made to the recipient; and

                             (ii)  the application has not been made in writing; and

                     (b)  must be given to the credit provider or recipient.

Agents of credit providers

             (3)  A disclosure by a credit provider of credit eligibility information about an individual is a permitted CP disclosure in relation to the individual if:

                     (a)  the provider is acting as an agent of another credit provider that has an Australian link; and

                     (b)  while the provider is so acting, the provider is a credit provider under subsection 6H(1); and

                     (c)  the provider discloses the information to the other credit provider in the provider's capacity as such an agent.

Securitisation arrangements etc.

             (4)  A disclosure by a credit provider of credit eligibility information about an individual is a permitted CP disclosure in relation to the individual if:

                     (a)  the provider is a credit provider under subsection 6J(1) in relation to credit; and

                     (b)  the credit has been provided by, or is credit for which an application has been made to, another credit provider (the original credit provider ) that has an Australian link; and

                     (c)  the original credit provider is not a credit provider under that subsection; and

                     (d)  the information is disclosed to:

                              (i)  the original credit provider; or

                             (ii)  another credit provider that is a credit provider under that subsection in relation to the credit and that has an Australian link; and

                     (e)  the disclosure of the information is reasonably necessary for:

                              (i)  purchasing, funding or managing, or processing an application for, the credit by means of a securitisation arrangement; or

                             (ii)  undertaking credit enhancement in relation to the credit.

Mortgage credit secured by the same real property

             (5)  A disclosure by a credit provider of credit eligibility information about an individual is a permitted CP disclosure in relation to the individual if:

                     (a)  the disclosure is to another credit provider that has an Australian link; and

                     (b)  both credit providers have provided mortgage credit to the individual in relation to which the same real property forms all or part of the security; and

                     (c)  the individual is at least 60 days overdue in making a payment in relation to the mortgage credit provided by either provider; and

                     (d)  the information is disclosed for the purpose of either provider deciding what action to take in relation to the overdue payment.



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