National Consumer Credit Protection Act 2009

CHAPTER 3 - RESPONSIBLE LENDING CONDUCT  

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

Division 3 - Conditions on credit reporting bodies on-disclosing credit information  

SECTION 133CZA   ON-DISCLOSING INFORMATION SUPPLIED UNDER DIVISION 2 ETC.  

133CZA(1)    
This section applies to a credit reporting body in relation to the following information (the protected information ):

(a)    any information that the credit reporting body is supplied under Division 2 ;

(b)    any CRB derived information (within the meaning of the Privacy Act 1988 ) that is derived from information that the credit reporting body is supplied under Division 2 .

When protected information must not be disclosed

133CZA(2)    
If the conditions prescribed by the regulations are met for the credit reporting body and a credit provider, the credit reporting body must not disclose to the credit provider so much of the protected information as:

(a)    is prescribed by the regulations; or

(b)    is of a kind or kinds prescribed by the regulations.

Civil penalty: 5,000 penalty units.

When protected information must be disclosed

133CZA(3)    
If the conditions prescribed by the regulations are met for the credit reporting body and a credit provider, the credit reporting body must disclose to the credit provider so much of the protected information as:

(a)    the regulations require to be disclosed; or

(b)    is of a kind or kinds prescribed by the regulations;

and which the Privacy Act 1988 does not prevent the credit reporting body from disclosing.

Civil penalty: 5,000 penalty units.

133CZA(4)    
If the credit reporting body is required under subsection (3) to disclose information, the credit reporting body must make the disclosure by the time, and in accordance with the requirements, prescribed by the regulations.

Civil penalty: 5,000 penalty units.

Incorporation of other instruments

133CZA(5)    
Regulations made for the purposes of subsection (2), (3) or (4) may make provision in relation to a matter by applying, adopting or incorporating, with or without modification, any matter contained in any other instrument or writing as in force or existing from time to time.

133CZA(6)    
Subsection (5) has effect despite subsection 14(2) of the Legislation Act 2003 .

Matters regulations may deal with

133CZA(7)    
Without limiting subsection (2), (3) or (4), a matter prescribed for the purposes of that subsection may depend on a person or body being satisfied of one or more specified matters.