Document ID: chunk:federal_register_of_legislation:F2024L01251:clause:2_4:p1
Version: federal_register_of_legislation:F2024L01251
Segment Type: clause
Provision Reference: sch 2 cl 4 (pt 1/2)
Character Range: 20748–23615

4  Credit providers' information collection procedures
 (1) This section is made for the purposes of subsection 21C(1) of the Act.
Note:  Subsection 21C(1) of the Act requires credit providers, at or before they collect personal information about an individual that they likely to disclose to a credit reporting body, to
            (a)  notify the individual of the name and contact details of the credit reporting body, as well as any other matters specified in the registered CR code, or
                   (b)  otherwise ensure that the individual is aware of those matters.

Notification does not require consent
 (2) For the avoidance of doubt, a credit provider's obligation under subsection 21C(1) of the Act to notify an individual of certain matters does not require the provider to obtain the individual's consent to the disclosure of information to a credit reporting body.

Matters that credit providers must notify or otherwise make individuals aware of
 (3) At or before the time a credit provider collects personal information about an individual that the provider is likely to disclose to a credit reporting body, the provider must notify or otherwise ensure that the individual is made aware of the following matters:
 (a) if the likely disclosure is an information request:
 (i) that the individual's consent to the disclosure being made is not required;
 (ii) that a record of the information request may be used and, as relevant, disclosed for the purposes of the credit reporting body or a credit provider assessing the individual's credit worthiness, including calculation of a credit score or credit rating (subject to any other use or disclosure limitations under the Act, the Regulations or this CR Code); and
 (iii) in general terms, how the information request may affect a credit score or credit rating calculated by a credit reporting body in relation to the individual;
 (b) the credit reporting body may include the information in reports provided to credit providers to assist them to assess the individual's credit worthiness;
 (c) that if the individual fails to meet their payment obligations in relation to consumer credit or commits a serious credit infringement, the credit provider may be entitled to disclose this to the credit reporting body;
 (d) how the individual may obtain:
 (i) the credit provider's policy about the management of credit-related personal information required by section 21B of the Act; and
 (ii) the credit reporting body's policy about the management of credit-related personal information required by section 20B of the Act; and
 (e) the individual's rights to:
 (i) access the information from the credit provider; and
 (ii) request the credit provider to correct the information; and
 (iii) make a complaint to the credit provider.
 (f) the individual's rights to request the credit reporting body: