22CUse or disclosure of information by mortgage insurers or trade insurers

22C Use or disclosure of information by mortgage insurers or trade insurers

Prohibition on use or disclosure (1) If: (a) a mortgage insurer or trade insurer holds or held personal information about an individual; and (b) the information was disclosed to the insurer by a credit reporting body or credit provider under Division 2 or 3 of this Part; the insurer must not use or disclose the information, or any personal information about the individual derived from that information.

Civil penalty: 2,000 penalty units.

Permitted uses (2) Subsection (1) does not apply to the use of the information if: (a) for a mortgage insurer—the use is for: (i) a mortgage insurance purpose of the insurer in relation to the individual; or (ii) any purpose arising under a contract for mortgage insurance that has been entered into between the credit provider and the insurer; or (b) for a trade insurer—the use is for a trade insurance purpose of the insurer in relation to the individual; or (c) the use is required or authorised by or under an Australian law or a court/tribunal order. Permitted disclosure (3) Subsection (1) does not apply to the disclosure of the information if the disclosure is required or authorised by or under an Australian law or a court/tribunal order. Interaction with the Australian Privacy Principles (4) If the mortgage insurer or trade insurer is an APP entity, Australian Privacy Principles 6, 7 and 8 do not apply to the insurer in relation to the information. (5) If: (a) the mortgage insurer or trade insurer is an APP entity; and (b) the information is a government related identifier of the individual; Australian Privacy Principle 9.2 does not apply to the insurer in relation to the information.