Privacy Act 1988

PART IIIA - CREDIT REPORTING  

Division 3 - Credit providers  

Subdivision D - Dealing with credit eligibility information etc.  

SECTION 21P   NOTIFICATION OF A REFUSAL OF AN APPLICATION FOR CONSUMER CREDIT  

21P(1)    
This section applies if:

(a) a credit provider refuses an application for consumer credit made in Australia:

(i) by an individual; or

(ii) jointly by an individual and one or more other persons (the other applicants ); and

(b) the refusal is based wholly or partly on credit eligibility information about one or more of the following:

(i) the individual;

(ii) a person who is proposing to act as a guarantor in relation to the consumer credit;

(iii) if the application is an application of a kind referred to in subparagraph (a)(ii) - one of the other applicants; and

(c) a credit reporting body disclosed the relevant credit reporting information to the provider for the purposes of assessing the application.

21P(2)    
The credit provider must, within a reasonable period after refusing the application, give the individual a written notice that:

(a) states that the application has been refused; and

(b) states that the refusal is based wholly or partly on credit eligibility information about one or more of the persons referred to in paragraph (1)(b); and

(c) if that information is about the individual - sets out:

(i) the name and contact details of the credit reporting body that disclosed the relevant credit reporting information to the provider; and

(ii) any other matter specified in the registered CR code.