Commonwealth legislation

Credit Provider Determination No. 2011-1 (Assignees)

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

2/10 complexity

This ruling treats companies that buy debts (by assignment, subrogation or similar transfers) as “credit providers” under the Privacy Act 1988, closing a loophole that could have left consumers’ credit and personal data less protected after a loan sale.

It applies to corporations that weren’t already credit providers and was in force from 1 Sep 2011 to 31 Aug 2014.

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Current sections

Direct links to the current provisions in Credit Provider Determination No. 2011-1 (Assignees).

Credit Provider Determination No. 2011-1 (Assignees)

Privacy Act 1988 (Cth)

Under s 11B(1)(b)(v)(B) of the Privacy Act 1988, I, Timothy Pilgrim, Privacy Commissioner, determine that:

A corporation, which acquires the rights of a credit provider with respect to the repayment of a loan (whether by assignment, subrogation or other means) shall, in relation to that loan, be regarded as the credit provider for the purposes of the Privacy Act.
A corporation deemed to be a credit provider by virtue of paragraph 1, above, shall, for the purposes of the Privacy Act, be regarded as the credit provider to whom the loan application was submitted, or who provided the loan.
This Determination relates to those corporations which are not already credit providers by virtue of paragraphs (a) or (b)(iii) to (iv) of s 11B(1) of the Privacy Act.
This Determination is effective from 1 September 2011 to 31 August 2014 (inclusive).

Timothy Pilgrim

Privacy Commissioner

8 August 2011

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Credit Provider Determination No. 2011-1 (Assignees)

Credit Provider Determination No. 2011-1 (Assignees)

Privacy Act 1988 (Cth)

Under s 11B(1)(b)(v)(B) of the Privacy Act 1988, I, Timothy Pilgrim, Privacy Commissioner, determine that:

A corporation, which acquires the rights of a credit provider with respect to the repayment of a loan (whether by assignment, subrogation or other means) shall, in relation to that loan, be regarded as the credit provider for the purposes of the Privacy Act.
A corporation deemed to be a credit provider by virtue of paragraph 1, above, shall, for the purposes of the Privacy Act, be regarded as the credit provider to whom the loan application was submitted, or who provided the loan.
This Determination relates to those corporations which are not already credit providers by virtue of paragraphs (a) or (b)(iii) to (iv) of s 11B(1) of the Privacy Act.
This Determination is effective from 1 September 2011 to 31 August 2014 (inclusive).

Timothy Pilgrim

Privacy Commissioner

8 August 2011