Document ID: chunk:federal_register_of_legislation:F2024L01251:clause:2_23:p3
Version: federal_register_of_legislation:F2024L01251
Segment Type: clause
Provision Reference: sch 2 cl 23 (pt 3/6)
Character Range: 130560–133336

view as to whether the credit provider is complying with the obligations referred to in subsection (2).
 (8) A credit provider must permit a person who conducts an audit of the provider as part of a credit reporting body's auditing program referred to in subsection (3), to have reasonable access to records for the purposes of carrying out the audit.
 (9) A credit provider must take reasonable steps to rectify issues identified through an audit undertaken as part of a credit reporting body's auditing program referred to in subsection (3).
 (10) A credit reporting body must:
 (a) provide to the Commissioner by 31 August each year, a list of the credit providers audited as part of the body's audit program referred to in subsection (3); and
 (b) on request by the Commissioner, provide the Commissioner with the auditor's report produced as part of the body's auditing program referred to in subsection (3).

Obligations on credit reporting body to take action where credit providers have not met their obligations
 (11) A credit reporting body must take action as is reasonable in the circumstances (which may include termination of the agreement) where a credit provider fails to meet its contractual obligations to the body to comply with Part IIIA of the Act, the Regulations and this CR Code and in particular fails to:
 (a) ensure that the credit information that the provider discloses to the body is accurate, up-to-date and complete; or
 (b) protect credit reporting information disclosed to the provider by the body from misuse, interference or loss, or unauthorised access, modification or disclosure.
 (12) A credit reporting body may only terminate an agreement with a credit provider under subsection (11) if the body gives the provider:
 (a) reasonable notice of its intention to terminate the agreement; and
 (b) and an opportunity to trigger the dispute resolution procedures in subsection (13).
 (13) Where disputes arise between two or more credit reporting bodies, credit providers and affected information recipients in relation to actions undertaken or required to fulfil their obligations under Part IIIA of the Act, the Regulations or this CR Code, the parties to the dispute must endeavour to resolve the dispute in a fair and efficient way.

Obligations on credit reporting bodies to publish information about audit program
 (14) A credit reporting body must publish on its website, by 31 August each year, a report for the financial year ending on 30 June of the same year about its audit program, including:
 (a) how the body identifies and evaluates indicators of risk of non-compliance by credit providers with the obligations referred to in subsection (2); and
 (b) what types of risk indicators and information are used to assess the risk