Privacy Act 1988 Section 18A Credit Reporting Code of Conduct Amendments (Cth)

CREDIT REPORTING:   CODE OF CONDUCT

PRIVACY ACT 1988 SECTION 18A

1. Under section 18A of the Privacy Act 1988, I ISSUE amendments to the Code of
   Conduct for Credit Reporting, as attached.

1. These amendments to the Code of Conduct shall take effect as from 27 March 1995.

Dated 6th March   1995

KEVIN PATRICK O'CONNOR Privacy Commissioner

Further information about the amendments to the Code of Conduct can be obtained from the Office of the Privacy Commissioner on 02-2849600 (telephone) or 02-2849666 (facsimile).

CREDIT REPORTING CODE OF CONDUCT - AMENDMENTS

PART 1 - CREDIT REPORTING AGENCIES

Existing paragraphs 1.7 to 1.12 of the Code of Conduct are being deleted and replaced with new paragraphs as outlined below. The replacement paragraphs consist of two new paragraphs (1.7 and 1.8), two paragraphs which have been modified slightly from the original version (1.9 and 1.11), and three paragraphs which are essentially the same as the original paragraphs but with changes to their numbering (1.10, 1.12, and 1.12A).

Paragraphs 1.7 to 1.12A will now read as follows:

"1.7             A credit reporting agency must ensure that an individual is given access to his or her

personal credit information file in circumstances where the request for access

(a)            relates to refusal of the individual's application for credit, or

(b)            is otherwise related to the management of the individual's credit arrangements.

1.8Where a credit reporting agency receives a request from an individual for access to his
or her credit information file, and:

(a)            it appears to the credit reporting agency that the access is not related to either of
the purposes described in paragraph 1.7, above; and

(b)            the processing of the request would impact unreasonably on the ability of the
credit reporting agency to process requests made in accordance with paragraph
1.7;

the credit reporting agency may:

(i)     refuse the request for access;

(ii)    defer the request for access; or

(iii)   charge a fee for access to offset the impact of the request on its operations, as described in (b), above.

1.9Where a credit reporting agency refuses or defers a request by an individual or his/her
authorised agent for access to the individual's credit information file, or charges a fee
for such access, the individual or his/her authorised agent may complain to the Privacy
Commissioner, who may order the credit reporting agency to provide access to that
person (including an order that access be provided free of charge).

1.10In meeting an individual's request for access to his or her credit information file, a
credit reporting  agency  should require  such evidence as  is  reasonable  in the
circumstances to satisfy itself as to the identity of the individual.

1.11             A credit reporting agency in receipt of a request by an individual for access to his or
her credit information file, for purposes described in paragraph 1.7 above, must give
access within 10 working days of having received the request for access.

Fees for Access

1.12           A credit reporting agency may not charge a fee for access by an authorised agent of an

individual unless the agency believes on reasonable grounds that the agent has requested a copy of the individual's credit information file while acting as a business intermediary between the individual and the credit provider.

1.12A     Where a credit reporting agency denies access to an individual or his or her authorised agent because the individual or the agent has refused to pay the fee, the agency should advise the individual concerned that he or she may refer the matter to the Privacy Commissioner."

PART 2 - CREDIT PROVIDERS

Reporting of Schemes of Arrangement

Delete paragraph 2.10 and replace it with the following:

"2.10       Where a credit provider has previously listed with a credit reporting agency an overdue payment or a serious credit infringement against an individual in respect of an amount outstanding, and the credit provider subsequently enters into an arrangement with the individual for the repayment of the outstanding amount, the credit provider may contact the credit reporting agency to advise that a note should be included in the individual's credit information file to the effect that an arrangement has been entered into with the individual for repayment of the outstanding amount."

Disclosure Between Credit Providers

Add the following paragraph immediately after paragraph 2.14:

"2.14A    A record which is made by a credit provider in accordance with paragraph 2.14 should be retained for a minimum period of 12 months from the date on which it is made."