Document ID: chunk:federal_register_of_legislation:C2004A04211:body:0:p8
Version: federal_register_of_legislation:C2004A04211
Segment Type: other
Provision Reference: 
Character Range: 19093–22053

to the disclosure of the report or information to another credit provider:

    (a) must be in writing unless:

          (i) the disclosure is sought for the purpose of assessing an application for credit or commercial credit that was initially made orally; and

           (ii) the application has not yet been made in writing; and

    (b) must be given to:

          (i) the credit provider with possession or control of the report or information; or

          (ii) the other credit provider.

     "(1B) For the purposes of paragraph (1)(bg), the individual's agreement to the disclosure of the report or information must be in writing unless:

         (a)     the disclosure is sought for the purpose of enabling a person or body to perform a task that is necessary in order to fund, by means of an arrangement involving mortgage securitisation, mortgage credit for which an application has initially been made orally; and

       (b)    the application has not yet been made in writing.

     "(1C) Paragraph (1)(ga) does not affect the operation of paragraph (1)(g) in relation to an individual obtaining access to credit report under section 18H.".

Limits on use or disclosure by mortgage insurers or trade insurers of personal information contained in credit reports

  18. Section 18P of the Principal Act is amended:

  (a)     by omitting from subsection (1) "assessing";

    (b)    by omitting paragraph (1)(a) and substituting the following paragraph:

          "(a) assessing whether to provide insurance to, or the risk of providing insurance to, a credit provider in respect of mortgage credit given by the credit provider to the individual concerned or applied for by the individual concerned to the credit provider; or";

  (c)     by inserting in paragraph (1)(b) "assessing" before "the risk";

    (d)    by inserting after paragraph (1)(b) the following word and paragraph:

            "; or (c) any purpose arising under the contract for mortgage insurance that has been entered into between a credit provider and the mortgage insurer;";

  (e) by adding at the end the following subsection:

     "(7) A reference in this section to a credit report is taken to include a reference to a report or information disclosed to a mortgage insurer under paragraph 18N(1)(bb).".

Limits on use by certain persons of personal information obtained by credit providers

  19. Section 18Q of the Principal Act is amended:

   (a) by inserting after subsection (1) the following subsection:

     "(1A) A person or body that has obtained a report or information under paragraph 18N(1)(bg) must not use the report or information, or any personal information derived from the report or information, for any purpose other than the purpose

     referred to in subparagraph 18N(1)(bg)(iii), unless use of the report or information, or the information so derived, for that other purpose is required or authorised by or under law.";

    (b)    by