National Consumer Credit Protection Amendment (Mandatory Credit Reporting and Other Measures) Act 2021 (5 of 2021)

Schedule 2   Financial hardship and other amendments

Part 2   Related amendments

National Consumer Credit Protection Act 2009

17   After subsection 133CP(2)

Insert:

(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.