PRIVACY ACT 1988 - SECT 21P Notification of a refusal of an application for consumer credit

PRIVACY ACT 1988 - SECT 21P

  (1)   This section applies if:

  (a)   a credit provider refuses an application for consumer credit made in Australia:

  (i)   by an individual; or

  (ii)   jointly by an individual and one or more other persons (the other applicants ); and

  (b)   the refusal is based wholly or partly on credit eligibility information about one or more of the following:

  (i)   the individual;

  (ii)   a person who is proposing to act as a guarantor in relation to the consumer credit;

  (iii)   if the application is an application of a kind referred to in subparagraph   (a)(ii)--one of the other applicants; and

  (c)   a credit reporting body disclosed the relevant credit reporting information to the provider for the purposes of assessing the application.

  (2)   The credit provider must, within a reasonable period after refusing the application, give the individual a written notice that:

  (a)   states that the application has been refused; and

  (b)   states that the refusal is based wholly or partly on credit eligibility information about one or more of the persons referred to in paragraph   (1)(b); and

  (c)   if that information is about the individual--sets out:

  (i)   the name and contact details of the credit reporting body that disclosed the relevant credit reporting information to the provider; and

  (ii)   any other matter specified in the registered CR code.