PRIVACY ACT 1988

PART IIIA - CREDIT REPORTING  

Division 3 - Credit providers  

Subdivision D - Dealing with credit eligibility information etc.  

SECTION 21N   PERMITTED CP DISCLOSURES TO OTHER RECIPIENTS  

Mortgage credit assistance schemes

21N(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 a State or Territory authority; and


(b) the functions or responsibilities of the authority include:


(i) giving assistance (directly or indirectly) that facilitates the provision of mortgage credit to individuals; or

(ii) the management or supervision of schemes or arrangements under which such assistance is given; and


(c) the information is disclosed for the purpose of enabling the authority:


(i) to determine the extent of the assistance (if any) to give in relation to the provision of mortgage credit to the individual; or

(ii) to manage or supervise such a scheme or arrangement.
Assignment of debts owed to credit providers etc.

21N(2)  
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 one or more of the following (the recipient ):


(i) an entity;

(ii) a professional legal adviser of the entity;

(iii) a professional financial adviser of the entity; and


(b) the recipient has an Australian link; and


(c) subsection (3) applies to the information.

21N(3)  
This subsection applies to the credit eligibility information if the recipient proposes to use the information:


(a) in the process of the entity considering whether to:


(i) accept an assignment of a debt owed to the credit provider; or

(ii) accept a debt owed to the provider as security for credit provided to the provider; or

(iii) purchase an interest in the provider or a related body corporate of the provider; or


(b) in connection with exercising rights arising from the acceptance of such an assignment or debt, or the purchase of such an interest.


 

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