Commonwealth Consolidated Acts

PRIVACY ACT 1988 - SECT 18P

             (1)  A mortgage insurer that is or has been in possession or control of a credit report must not use the report or any personal information derived from the report for any purpose other than:

                     (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

                     (b)  assessing the risk of the individual concerned defaulting on mortgage credit in respect of which the mortgage insurer has provided insurance to a credit provider; or

                    (ba)  assessing the risk of the individual concerned being unable to meet a liability that might arise under a guarantee entered into, or proposed to be entered into, in respect of mortgage credit given by the credit provider to another person; or

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

unless use of the report or information for that other purpose is required or authorised by or under law.

             (2)  A trade insurer that is or has been in possession or control of a credit report must not use the report or any personal information derived from the report for any purpose other than assessing:

                     (a)  whether to provide insurance to, or the risk of providing insurance to, a credit provider in respect of commercial credit given by the credit provider to another person; or

                     (b)  the risk of a person defaulting on commercial credit in respect of which the trade insurer has provided insurance to a credit provider;

unless use of the report or information for that other purpose is required or authorised by or under law.

             (3)  A mortgage insurer or trade insurer that is or has been in possession or control of a credit report must not:

                     (a)  use the report unless all personal information concerning individuals that is not information of a kind referred to in subsection 18E(1) has been deleted from the report; or

                     (b)  use any personal information derived from the report if the information is not information of a kind referred to in subsection 18E(1).

             (4)  References in subsection (3) to information that is not information of a kind referred to in subsection 18E(1) do not include references to information the disclosure of which is taken, because of the application of subsection 18K(3), not to be in contravention of subsection 18K(2).

             (5)  A mortgage insurer or trade insurer that is or has been in possession or control of a credit report must not disclose the report or any personal information derived from the report to another person for any purpose unless disclosure of the report or information to that other person for that purpose is required or authorised by or under law.

             (6)  A mortgage insurer or trade insurer that knowingly or recklessly contravenes subsection (1), (2) or (5) is guilty of an offence punishable, on conviction, by a fine not exceeding $150,000.

             (7)  A reference in this section (other than subsection (3)) 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).