Document ID: chunk:federal_register_of_legislation:C2024C00826:section:133czc
Version: federal_register_of_legislation:C2024C00826
Segment Type: section
Provision Reference: s 133CZC
Character Range: 349830–351462

133CZC  Reports about initial bulk supplies of credit information
 (1) A licensee who is required under subsection 133CR(1) or (3) to supply mandatory credit information must arrange:
 (a) for the preparation of a written statement containing information of the kinds prescribed by the regulations relating to:
 (i) the mandatory credit information; or
 (ii) the eligible credit accounts to which the mandatory credit information relates; and
 (b) for a person appointed under section 133CZD to audit that statement and prepare a written report of the audit; and
 (c) for that statement and audit report to be given to the Minister within 6 months after the 1 July referred to in that subsection.
Civil penalty: 5,000 penalty units.
 (2) A credit reporting body to whom mandatory credit information is required under subsection 133CR(1) or (3) to be supplied must arrange:
 (a) for the preparation of a written statement containing information of the kinds prescribed by the regulations relating to:
 (i) the mandatory credit information; or
 (ii) the eligible credit accounts to which the mandatory credit information relates; and
 (b) for a person appointed under section 133CZD to audit that statement and prepare a written report of the audit; and
 (c) for that statement and audit report to be given to the Minister within 6 months after the 1 July referred to in that subsection.
Civil penalty: 5,000 penalty units.
 (3) For the purposes of subsection (1) or (2), disregard section 133CS when working out whether a person is required under subsection 133CR(1) or (3) to supply mandatory credit information to another person.