Document ID: chunk:federal_register_of_legislation:C2025C00185:section:912a:p3
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 912A (pt 3/4)
Character Range: 3666121–3668868

(a) if the individual is a financial services licensee or credit licensee—the individual;
 (b) if the individual is a former or current representative of a financial services licensee—that financial services licensee;
 (c) if the individual is a former or current representative of a credit licensee—that credit licensee;
 (d) if a mortgage intermediary has previously acted or is acting as an intermediary in relation to a credit licensee where the individual is, or is a former or current representative of, that credit licensee—that mortgage intermediary.
 (3AC) The Reference Checking and Information Sharing Protocol may also provide for keeping and retaining records of information shared, and the circumstances under which that information is shared.
 (3B) The Reference Checking and Information Sharing Protocol must not:
 (a) require or permit personal information (within the meaning of the Privacy Act 1988) to be shared, other than with the consent of the individual to whom the information relates; or
 (b) require information to be shared in relation to conduct that occurred more than 5 years before the information is shared.
 (3E) Expressions used in paragraphs (3A)(b) and (c) and (3AB)(c) and (d) that are also used in the National Consumer Credit Protection Act 2009 (other than Reference Checking and Information Sharing Protocol) have the same meaning in that subsection as they have in that Act.

Qualified privilege
 (3F) A person has qualified privilege in relation to information shared in accordance with the Reference Checking and Information Sharing Protocol.
 (3G) A person who has qualified privilege under subsection (3F) in respect of conduct is also not liable for any action based on breach of confidence in relation to that conduct.

Adequate resources to provide financial services—APRA regulated bodies
 (4) Paragraph (1)(d):
 (a) does not apply to a body regulated by APRA, unless the body is an RSE licensee; and
 (b) does not apply to an RSE licensee, unless the RSE licensee is also the responsible entity of a registered scheme.

Adequate risk management systems—APRA regulated bodies
 (5) Paragraph (1)(h):
 (a) does not apply to a body regulated by APRA, unless the body is an RSE licensee that is also the responsible entity of a registered scheme; and
 (b) does not apply to an RSE licensee that is also the responsible entity of a registered scheme, to the extent that the risk relates solely to the operation of a regulated superannuation fund by the RSE licensee.

Civil penalty provision
 (5A) A person contravenes this subsection if the person contravenes paragraph (1)(a), (aa), (ca), (cc), (d), (e), (f), (g), (h) or (j).
Note: This subsection is a civil penalty provision (see section 1317E).