PRIVACY ACT 1988

PART IIIA - CREDIT REPORTING  

Division 3 - Credit providers  

Subdivision D - Dealing with credit eligibility information etc.  

SECTION 21J   PERMITTED CP DISCLOSURES BETWEEN CREDIT PROVIDERS  

Consent

21J(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.

21J(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

21J(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.

21J(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

21J(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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