Reports about initial bulk supplies of credit information
133CZC Reports about initial bulk supplies of credit information
A licensee who is required under subsection 133CR(1) or (3) to supply mandatory credit information must arrange:
for the preparation of a written statement containing information of the kinds prescribed by the regulations relating to:
the mandatory credit information; or
the eligible credit accounts to which the mandatory credit information relates; and
for a person appointed under section 133CZD to audit that statement and prepare a written report of the audit; and
for that statement and audit report to be given to the Minister within 6 months after the 1 July referred to in that subsection.
Civil penalty: 5,000 penalty units.
A credit reporting body to whom mandatory credit information is required under subsection 133CR(1) or (3) to be supplied must arrange:
for the preparation of a written statement containing information of the kinds prescribed by the regulations relating to:
the mandatory credit information; or
the eligible credit accounts to which the mandatory credit information relates; and
for a person appointed under section 133CZD to audit that statement and prepare a written report of the audit; and
for that statement and audit report to be given to the Minister within 6 months after the 1 July referred to in that subsection.
Civil penalty: 5,000 penalty units.
For the purposes of subsection (1) or (2), disregard section 133CS when working out whether a person is required under subsection 133CR(1) or (3) to supply mandatory credit information to another person.
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