Commonwealth Numbered Acts

LAW AND JUSTICE LEGISLATION AMENDMENT ACT 1997 No. 34 of 1997 - SCHEDULE 13

Schedule 13-Amendment of the Privacy Act 1988 1 Subsection 6(1)
Insert:
guarantee includes an indemnity given against the default of a borrower in
making a payment in respect of a loan. 2 At the end of subsection 11B(1)
Add:
; or (d) an agency that:

        (i)    carries on a business or undertaking that involves the making
               of loans; and

        (ii)   is determined by the Commissioner to be a credit provider for
               the purposes of this Act. 3 After subsection 11B(1)
Insert:

(1A) If an agency is a credit provider because of paragraph (1)(d), Part IIIA
has effect in relation to the carrying on by the agency of a business or
undertaking involving the making of loans despite anything in Part III or in
the Freedom of Information Act 1982. 4 Subsection 11B(3)
Before "is to", insert "or subparagraph (1)(d)(ii)". 5 After paragraph
18E(1)(b)
Insert:

   (ba) the information is a record of an overdue payment by the individual as
        guarantor under a guarantee given against default by a person (the
        borrower) in repaying all or any of an amount of credit obtained by
        the borrower from a credit provider, and the following subparagraphs
        apply:

        (i)    the credit provider is not prevented under any law of the
               Commonwealth, a State or a Territory from bringing proceedings
               against the individual to recover the amount of the overdue
               payment;

        (ii)   the credit provider has given the individual notice of the
               borrower's default that gave rise to the individual's
               obligation to make the payment;

        (iii)  60 days have elapsed since the day on which the notice was
               given;

        (iv)   the credit provider has, separately from and in addition to the
               giving of the notice referred to in subparagraph (ii), taken
               steps to recover the amount of the overdue payment from the
               individual. 6 At the end of subsection 18E(7)
Add "or (ba)". 7 Subsection 18F(1)
After "18E(1)(b)", insert "or (ba)". 8 After subsection 18F(2)
Insert:

(2A) For the purposes of subsection (1), the maximum permissible period for
the keeping of personal information of the kind referred to in paragraph
18E(1)(ba) is the period of 5 years beginning on the day when the credit
reporting agency is informed of the overdue payment concerned. 9 After section
18N
Insert: 18NA Disclosure by credit providers to certain persons who gave
indemnities
In respect of a disclosure by a credit provider of a report or information to
a person who, on or after 7 December 1992 and before the commencement of this
section, gave an indemnity against the default of a borrower in making a
payment in respect of a loan given by the credit provider, subparagraph
18N(1)(bg)(ii) has effect as if the reference in sub-subparagraph
18N(1)(bg)(ii)(A) to the commencement of paragraph 18N(1)(bg) were a reference
to the commencement of this section. 10 After subsection 44(2)
Insert:

(2A) If documents are produced to the Commissioner in accordance with a
requirement under subsection (1), the Commissioner:

   (a)  may take possession of, and may make copies of, or take extracts from,
        the documents; and

   (b)  may retain possession of the documents for any period that is
        necessary for the purposes of the investigation to which the documents
        relate; and

   (c)  during that period must permit a person who would be entitled to
        inspect any one or more of the documents if they were not in the
        Commissioner's possession to inspect at all reasonable times any of
        the documents that the person would be so entitled to inspect.