National Consumer Credit Protection Act 2009

CHAPTER 3 - RESPONSIBLE LENDING CONDUCT  

PART 3-2CA - LICENSEES SUPPLYING CREDIT INFORMATION TO CREDIT REPORTING BODIES ETC.  

Division 1 - Introduction  

SECTION 133CP   MEANING OF MANDATORY CREDIT INFORMATION  

133CP(1)    
Mandatory credit information , for eligible credit accounts held by natural persons with a credit provider, is personal information (other than sensitive information) for those accounts that is:

(a)    identification information (within the meaning of the Privacy Act 1988 ) about the natural persons; or

(b)    consumer credit liability information (within the meaning of the Privacy Act 1988 ) about the natural persons; or

(c)    repayment history information (within the meaning of the Privacy Act 1988 ) about the natural persons; or

(d)    

financial hardship information about the natural persons; or

(e)    default information (within the meaning of the Privacy Act 1988 ) about the natural persons; or

(f)    payment information (within the meaning of the Privacy Act 1988 ) about the natural persons; or

(g)    new arrangement information (within the meaning of the Privacy Act 1988 ) about the natural persons.

133CP(2)    
Despite paragraph (1)(c) , mandatory credit information does not include repayment history information (within the meaning of the Privacy Act 1988 ) that comes into existence more than 3 months before the first 1 July on which:

(a)    if the credit provider is a member of a banking group - the head company of the group is an eligible licensee; or

(b)    otherwise - the credit provider is an eligible licensee.

133CP(3)    

Despite paragraph (1)(d) , mandatory credit information does not include financial hardship information that comes into existence:

(a)    before 1 July 2022; or

(b)    more than 3 months before the first 1 July on which:

(i) if the credit provider is a member of a banking group - the head company of the group is an eligible licensee; or

(ii) otherwise - the credit provider is an eligible licensee.

Note:

Paragraph (b) is included to deal with the case where the first 1 July is in 2023 or a later year.

133CP(4)    
Despite paragraph (1)(e), mandatory credit information does not include default information (within the meaning of the Privacy Act 1988 ) that comes into existence before the first 1 July on which:

(a)    if the credit provider is a member of a banking group - the head company of the group is an eligible licensee; or

(b)    otherwise - the credit provider is an eligible licensee.