22FUse or disclosure of information by advisers etc.

22F Use or disclosure of information by advisers etc.

Prohibition on use or disclosure (1) If: (a) any of the following (the recipient) holds or held credit eligibility information about an individual: (i) an entity; (ii) a professional legal adviser of the entity; (iii) a professional financial adviser of the entity; and (b) the information was disclosed to the recipient by a credit provider under subsection 21N(2); the recipient must not use or disclose the information, or any personal information about the individual derived from that information.

Civil penalty: 1,000 penalty units.

Permitted uses (2) Subsection (1) does not apply to the use of the information if: (a) for a recipient that is the entity—the information is used for a matter referred to in subsection 21N(3); or (b) for a recipient that is the professional legal adviser, or professional financial adviser, of the entity—the information is used: (i) in the adviser’s capacity as an adviser of the entity; and (ii) in connection with advising the entity about a matter referred to in subsection 21N(3); 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 recipient is an APP entity, Australian Privacy Principles 6, 7 and 8 do not apply to the recipient in relation to the information. (5) If: (a) the recipient 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 recipient in relation to the information.