Credit reporting agencies that have been given information about overdue payments
26 Credit reporting agencies that have been given information about overdue payments
.(1) This section applies if:
the State Bank of South Australia or a designated subsidiary of the State Bank of South Australia was a credit provider in relation to credit provided to an individual; and
as a result of the operation of a transfer provision, the individual’s account was transferred to Bank of South Australia Limited on a particular day (the “transfer day”); and
a credit reporting agency had been given information that the individual was overdue in making a payment in respect of the credit provided by the State Bank of South Australia or the designated subsidiary, as the case may be.
This Division and subsection 18F(3) of the Privacy Act 1988 have effect, on and after the transfer day, as if the credit reporting agency had been given information that the individual was overdue in making a payment in respect of credit provided by Bank of South Australia Limited.
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