Privacy Act 1988

PART II - INTERPRETATION  

Division 2 - Key definitions relating to credit reporting  

Subdivision B - Other definitions  

SECTION 6V   MEANING OF REPAYMENT HISTORY INFORMATION  

6V(1)    
If a credit provider provides consumer credit to an individual, the following information about the consumer credit is repayment history information about the individual:

(a)    whether or not the individual has met an obligation to make a monthly payment that is due and payable in relation to the consumer credit;

(b)    the day on which the monthly payment is due and payable;

(c)    if the individual makes the monthly payment after the day on which the payment is due and payable - the day on which the individual makes that payment.

6V(1A)    

If an obligation of the individual to make a monthly payment is, or is taken by subsection (1B) to be, affected by a financial hardship arrangement, then repayment history information is to be determined by reference to that obligation as so affected.

Note:

In this case, there may be financial hardship information: see subsections 6QA(4) and (5) .

6V(1B)    

If, under a financial hardship arrangement, an individual is not required to make a monthly payment for a month, then, for the purposes of subsections (1) and (1A) and section 6QA :

(a)    a monthly payment is taken to have been due and payable on the day on which it would have been due and payable apart from the arrangement; and

(b)    the individual is taken to have met the obligation to make the monthly payment; and

(c)    the obligation to make the monthly payment is taken to be affected by the arrangement.

6V(2)    
The regulations may make provision in relation to:

(a)    whether or not an individual has met an obligation to make a monthly payment that is due and payable in relation to consumer credit; and

(b)    whether or not a payment is a monthly payment.