Document ID: chunk:federal_register_of_legislation:F2024L01251:clause:2_20:p5
Version: federal_register_of_legislation:F2024L01251
Segment Type: clause
Provision Reference: sch 2 cl 20 (pt 5/6)
Character Range: 114182–117042

that gave rise to the repayment history information have been complied with or varied; and
 (e) financial hardship information.

Corrections of default information for statute-barred debts
 (14) On request by an individual, a credit reporting body must correct the credit reporting information it holds in relation to the individual by destroying any default information that relates to a payment that the individual is overdue in making to a credit provider if, at the time of the correction request, the provider is prevented by a statute of limitations from recovering the amount of the overdue payment.

Notifying individuals of decisions to correct credit information
 (15)  A credit reporting body or credit provider must notify an individual of a decision about a correction request made by the individual under section 20T or section 21V of the Act within 5 business days of the decision.  Where the decision is to correct the information, the notice must:
 (a) include all relevant credit reporting information or credit eligibility information (as applicable) held by the body or provider (as applicable) so that the individual can check that the information has been appropriately corrected; and
 (b) explain:
 (i) that the individual has a right to obtain their credit reporting information from a credit reporting body free of charge if the access request relates to a decision by a body or a provider to correct information about the individual; and
 (ii) how that right may be exercised; and
 (c) if the body or provider (as applicable) is proposing to rely upon subsection (17):
 (i) explain who the body or provider is intending to notify to fulfil its notification obligations under Part IIIA of the Act, the Regulations and this CR Code; and
 (ii) ask the individual if there is any other provider or affected information recipient that the individual would like the notified of the correction.
 (16) Where a credit reporting body or credit provider corrects credit-related personal information by updating identification information about an individual, the body or provider (as applicable) is not obliged to notify any previous recipient of the information about the updating of that information, unless requested by the individual.
 (17) Where a credit reporting body or credit provider corrects credit-related personal information and this gives rise to an obligation under Part IIIA of the Act to give notice to a body, provider or affected information recipient, unless it is impracticable or illegal to give that notice, the notification obligation is taken to be met where:
 (a) the correcting body or provider gives notice of the correction to:
 (i) all bodies to which it disclosed the pre-corrected information; and
 (ii) all providers and affected information recipients to which it disclosed the pre-corrected information within