Law and Justice Legislation Amendment Act 1997 (34 of 1997)

Schedule 13   Amendment of the Privacy Act 1988

5   After paragraph 18E(1)(b)

Insert:

(ba) the information is a record of an overdue payment by the individual as guarantor under a guarantee given against default by a person (the borrower ) in repaying all or any of an amount of credit obtained by the borrower from a credit provider, and the following subparagraphs apply:

(i) the credit provider is not prevented under any law of the Commonwealth, a State or a Territory from bringing proceedings against the individual to recover the amount of the overdue payment;

(ii) the credit provider has given the individual notice of the borrower's default that gave rise to the individual's obligation to make the payment;

(iii) 60 days have elapsed since the day on which the notice was given;

(iv) the credit provider has, separately from and in addition to the giving of the notice referred to in subparagraph (ii), taken steps to recover the amount of the overdue payment from the individual.