The Privacy Amendment (2015 Measures No. 1) Regulation 2015 makes the current temporary exemption from the external dispute resolution (EDR) membership obligation for commercial credit providers permanent.
The exemption only applies to those credit providers whose sole business is the provision of commercial credit. Financial institutions which provide both consumer and commercial credit services remain subject to EDR membership obligations and are not able to rely upon the exemption.
The Regulation also extends to 1 January 2016 the temporary exemption from the EDR membership obligation for utilities in the ACT, the Northern Territory, Queensland, South Australia and Tasmania.
Unless exempted, under Part IIIA of the Privacy Act, a credit provider must be a member of an EDR scheme recognised under the Privacy Act to be able to participate in the credit reporting system.
