Commonwealth Numbered Acts

LAW AND JUSTICE LEGISLATION AMENDMENT ACT 1991 No. 136 of 1991 - SECT 16

16. Section 18M of the Principal Act is repealed and the following section is
substituted: Information to be given if an individual's application for credit
is refused

"18M.(1) If:

   (a)  a credit provider refuses an application by an individual for credit
        (including an application made jointly by that individual and one or
        more other persons); and

   (b)  the refusal is based wholly or partly on information derived from a
        credit report relating to that individual that a credit reporting
        agency has given to the credit provider for the purpose of assessing
        the application; the credit provider must give the individual a
        written notice:

   (c)  stating:

   (i)  that the application has been refused; and

   (ii) that the refusal was based wholly or partly, as the case requires, on
        information derived from a credit report relating to that individual
        that a credit reporting agency has given to the credit provider; and

   (iii) the name and address of the credit reporting agency; and

   (d)  notifying that individual of his or her right under this Act to obtain
        access to his or her credit information file maintained by the credit
        reporting agency.

"(2) If:

   (a)  a credit provider refuses an application by an individual for credit,
        being an application made jointly by that individual and one or more
        other persons; and

   (b)  the refusal is based wholly or partly on information derived from a
        credit report relating to one of those other persons that a credit
        reporting agency has given to the credit provider for the purpose of
        assessing the application; the credit provider must give to that
        individual a written notice stating:

   (c)  that the application has been refused; and

   (d)  that the refusal was based wholly or partly, as the case requires, on
        information derived from a credit report relating to that person that
        a credit reporting agency has given to the credit provider.".