PRIVACY ACT 1988

PART II - INTERPRETATION  

Division 2 - Key definitions relating to credit reporting  

Subdivision A - Credit provider  

SECTION 6K   ACQUISITION OF THE RIGHTS OF A CREDIT PROVIDER  

6K(1)  
If:


(a) an organisation or small business operator (the acquirer ) acquires, whether by assignment, subrogation or any other means, the rights of a credit provider (the original credit provider ) in relation to the repayment of an amount of credit; and


(b) the acquirer is not a credit provider under subsection 6G(1) ;

then the acquirer is a credit provider but only in relation to the credit.

6K(2)  
If subsection (1) of this section applies in relation to credit that has been provided by the original credit provider, the credit is taken, for the purposes of this Act, to have been provided by the acquirer.

6K(3)  
If subsection (1) of this section applies in relation to credit for which an application has been made to the original credit provider, the application is taken, for the purposes of this Act, to have been made to the acquirer.


 

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