Document ID: chunk:federal_register_of_legislation:F2024L00996:schedule:5:p8
Version: federal_register_of_legislation:F2024L00996
Segment Type: schedule
Provision Reference: sch 5 (pt 8/9)
Character Range: 20586–23558

within 10 business days beginning on the day after receiving the request; or
(b) within such longer period as agreed between the requesting licensee and the referee licensee, provided the period is no longer than 30 business days beginning on the day after receiving the request.
Limitation
(4) The referee licensee is not required to give information in relation to conduct of the prospective representative or relevant mortgage broker that occurred more than 5 years before the reference, clarification or update is given to the requesting licensee.
(5) The referee licensee must not give a reference, clarification or update to a requesting licensee if the requesting licensee has notified the referee licensee that the prospective representative or relevant mortgage broker has withdrawn their consent or that the consent has ceased.

9 Agents
(1) The obligations imposed on a financial services licensee or credit licensee by this Protocol also apply in respect of any agent authorised by the licensee to collect, use, disclose and store personal information on its behalf in respect of a prospective representative or relevant mortgage broker for the purposes of reference checking and information sharing in accordance with this Protocol.
(2) The licensee is responsible for the acts or omissions of its agents in relation to this Protocol.

10 Use of information
    Information collected by a financial services licensee or a credit licensee about an individual in accordance with this Protocol:
(a) must only be collected, used, disclosed or stored for the purpose of reference checking and information sharing in accordance with this Protocol; and
(b) must not be collected, used, disclosed or stored for a purpose other than that for which it was collected unless the individual has consented to that use or disclosure or another exception under the Privacy Act applies.

11 No arrangement or agreements
    A financial services licensee and a credit licensee must not enter into any arrangements or agreements with any person that limits its ability to share and disclose information in accordance with this Protocol.

12 Contact for reference checking and information sharing
    A financial services licensee and a credit licensee must have in place adequate arrangements to ensure that a requesting licensee can readily identify how to contact them for the purposes of reference checking and information sharing in accordance with this Protocol.

13 Record-keeping
(1) A financial services licensee and a credit licensee must keep records which demonstrate compliance with the requirements of this Protocol, including but not limited to records of the following matters:
           (a) consents given, requested, refused, withdrawn or ceased;
           (b) references given, received or requested;
           (c) clarification or update requests, and clarifications or updates;
           (d) any agreement with any agent in relation to reference checking