Commonwealth Consolidated Acts

NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 133CT

    If:

  (a)   an eligible licensee reasonably believes that an eligible credit reporting body for the licensee is not complying with section   20Q of the Privacy Act 1988 on the first or second 1   July on which the licensee is an eligible licensee; and

  (b)   the licensee complies with paragraphs 133CS(2)(a) and (b) in relation to that belief; and

  (c)   the licensee ceases to hold that belief:

  (i)   in the case of subsection   133CR(1)--on a day during the 90 - day period starting on that first 1   July; or

  (ii)   in the case of subsection   133CR(3)--on any day after that second 1   July;

the licensee must:

  (d)   prepare a written notice:

  (i)   stating that the licensee has ceased to hold that belief; and

  (ii)   setting out the licensee's reasons for ceasing to hold that belief; and

  (e)   give that notice to the body, and a copy to the Information Commissioner and ASIC, within 7 days after the day the licensee ceases to hold that belief.

Civil penalty:   5,000 penalty units.