Document ID: chunk:federal_register_of_legislation:F2024L01251:clause:2_19:p3
Version: federal_register_of_legislation:F2024L01251
Segment Type: clause
Provision Reference: sch 2 cl 19 (pt 3/6)
Character Range: 95668–98469

requests a physical copy of the information through the fee-based service, the credit reporting body must provide the information in that form.

Access to credit eligibility information
 (8) For the purposes of section 21T of the Act, a credit provider:
 (a) must take reasonable steps to provide an accessible means for an individual to obtain access to credit eligibility information about them; and
 (b) should, unless unusual circumstances apply, provide access to the individual within 30 days of the request; and
 (c) must present the information clearly and accessibly and provide reasonable explanations and summaries of the information to assist the access seeker to understand the impact of the information on the individual's credit worthiness; and
 (d) must advise the individual:
  (i) that, in order to ensure that they have access to the most up-to-date information, they should additionally request access to the credit reporting information held by credit reporting bodies about them; and
 (ii) how they may obtain their credit reporting information from credit reporting bodies.

Provision of derived information
 (9) Where a credit reporting body provides an access seeker with CRB derived information about the individual or a credit provider provides an access seeker with CP derived information about the individual, the information may be provided in a way that preserves the confidentiality of the methodology, data analysis methods, computer programs or other information that is used to produce the derived information.

Credit ratings
 (10) If the business of a credit reporting body involves deriving more than one form of credit rating or credit score for individuals:
Note 1: Section 20R of the Act generally requires credit reporting bodies to provide access to credit ratings upon request by an access seeker.
Note 2: An example of multiple forms of credit ratings or credit scores is where different ratings or scores are derived using calculations based on different sets of credit information.
 (a) the credit rating required to be given under Section 20R of the Act is the rating derived from the calculation that is used to provide credit ratings or credit scores to credit providers using the broadest range of information available to the body and, if there is more than one such calculation, the one that is most accurate, relevant and up to date; and
 (b) if the body imposes a charge for giving a credit rating derived using a different calculation to that described in paragraph (a) to access seekers, the body must give the individual (whether directly or through an agent) the option to receive that rating for free once every 3 months.
 (11) If a credit reporting body refers access seekers to a service under which a third party offers to give the access