5Overview

5   Overview

This CR code is a written code of practice about credit reporting under s 26N(1) of the Privacy Act as amended by the Privacy Amendment (Enhancing Privacy Protection) Act 2012 (the reform Act). The CR code is an important part of the regulatory framework for the comprehensive credit reporting system in Australia introduced by the reform Act. That system is intended to increase the efficiency of Australia’s consumer credit market. However, more comprehensive reporting necessitates improved privacy protections. This CR code adds to aspects of the credit reporting obligations imposed by Part IIIA of the Privacy Act and the Privacy Regulation 2013.  This CR code does not encompass all aspects of Part IIIA and so compliance with this CR code alone will not achieve full compliance with Part IIIA.