Privacy Amendment (Enhancing Privacy Protection) Act 2012 (197 of 2012)

Schedule 2   Credit reporting

Privacy Act 1988

41   Subsection 6(1)

Insert:

mortgage insurance purpose of a mortgage insurer in relation to an individual is the purpose of assessing:

(a) whether to provide insurance to, or the risk of providing insurance to, a credit provider in relation to mortgage credit:

(i) provided by the provider to the individual; or

(ii) for which an application to the provider has been made by the individual; or

(b) the risk of the individual defaulting on mortgage credit in relation to which the insurer has provided insurance to a credit provider; or

(c) the risk of the individual being unable to meet a liability that might arise under a guarantee provided, or proposed to be provided, in relation to mortgage credit provided by a credit provider to another person.