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

Schedule 2   Financial hardship and other amendments

Part 3   Other amendments

Privacy Act 1988

25A   Subsection 20R(1)

Repeal the subsection, substitute:

Access

(1) If a credit reporting body holds credit reporting information about an individual, the body must, on request by an access seeker in relation to the information, give the access seeker access to:

(a) the information; and

(b) if the body is a corporation to which paragraph 51(xx) of the Constitution applies, and the credit reporting business of the body involves deriving CRB derived information about individuals in the form of a rating (a credit rating ) of the individuals on a credit score scale or range - the information referred to in subsection (1A).

(1A) The information is:

(a) the credit rating of the individual, as derived by the body after the request is made; and

(b) information that identifies the particular credit information that is held by the body and from which the credit rating was derived; and

(c) information about the relative weighting of the credit information described in paragraph (b) in deriving the credit rating; and

(d) information about what the other ratings on the scale or range are, and how the individual's credit rating relates to those other ratings.