Document ID: chunk:federal_register_of_legislation:F2025C00142:reg:11
Version: federal_register_of_legislation:F2025C00142
Segment Type: reg
Provision Reference: reg 11
Character Range: 12100–13196

11  Meaning of credit reporting business
 (1) For subsection 6P(4) of the Act, a business or undertaking is not a credit reporting business if the business or undertaking is in a class of businesses or undertakings that:
 (a) provides personal information to a credit provider; and
 (b) provides the information to:
 (i) verify an individual's identity; or
 (ii) validate other information relating to the individual's financial position (such as real property assets) that the individual provides to the credit provider.
 (2) A class of businesses or undertakings complies with paragraph (1)(b) if the class of businesses or undertakings:
 (a) compiles information about the individual from sources, including publicly available sources; and
 (b) provides the information to the credit provider to assist the credit provider to:
 (i) verify the individual's identity; or
 (ii) verify that the individual owns the real estate or other assets that the individual claims to own; or
 (iii) validate the individual's claimed financial position (in relation to the value of the individual's assets).