If your organisation is a credit provider for Privacy Act purposes you can gain access to credit reports provided you follow the procedures.

The definition of “credit provider” for credit reporting purposes is wider than the National Consumer Credit Protection definition which requires consumer credit providers to be licensed and follow strict requirements.

For Privacy Act credit reporting purposes, the Privacy Commissioner has determined that in addition to the credit providers listed in Section 11B(1)(a) and (b)(iii) to (iv) of the Privacy Act, “All corporations belonging to the following classes are to be regarded as credit providers for the purposes of the Privacy Act:

• a corporation where, in relation to a transaction, it is considering providing or has provided a loan in respect of the provision of goods or services on terms which allow the deferral of payment, in full or in part, for at least 7 days; or
• a corporation engaged in the hiring, leasing or renting of goods, where, in relation to a transaction, no amount, or an amount less than the value of the goods, is paid as deposit for return of the goods, and the relevant arrangement is one of at least 7 days duration. “

If you are not sure whether you are complying with the Privacy Act, do not understand its impact on your organisation or want advice on the proposed Privacy Act changes please call us.