Authorities relating to Bank of South Australia Limited deemed to relate to the State Bank of South Australia or the designated subsidiary concerned
24 Authorities relating to Bank of South Australia Limited deemed to relate to the State Bank of South Australia or the designated subsidiary concerned
.(1) This section applies to an authority (however described) given under the Privacy Act 1988 if:
the authority was given to Bank of South Australia Limited; and
the authority authorised Bank of South Australia Limited to disclose, use or receive:
a credit report; or
any other information that has or has had any bearing on an individual’s credit worthiness, credit standing, credit history or credit capacity; and
the authority relates to the affairs of an individual who:
was an eligible customer of Bank of South Australia Limited; and
became an eligible customer of the State Bank of South Australia or a designated subsidiary of the State Bank of South Australia on a particular day (the “re-transfer day”) as a result of the operation of a re-transfer provision.
The Privacy Act 1988 has effect, on and after the re-transfer day, as if the authority had been given to, and had so authorised, the State Bank of South Australia or the designated subsidiary, as the case requires, instead of Bank of South Australia Limited.
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