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Credit Provider Determination 2001 No 1 concerning classes of credit providers

Last Modified 23 August 2001

Determination under the Privacy Act 1988: 2001 No 1 s.11B(1)(b)(v)(B)

Under s.11B(1)(b)(v)(B) of the Privacy Act 1988, I DETERMINE that:

All corporations belonging to the following classes are to be regarded as credit providers for the purposes of the Act: a corporation where, in relation to a transaction, it is considering providing or has provided a loan in respect of the provision of goods or services on terms which allow the deferral of payment, in full or in part, for at least 7 days; or a corporation engaged in the hiring, leasing or renting of goods, where, in relation to a transaction, no amount, or an amount less than the value of the goods, is paid as deposit for return of the goods, and the relevant arrangement is one of at least 7 days' duration.

This Determination affects those businesses which are not already credit providers by virtue of paragraphs (a) or (b)(iii) to (iv) of s. 11B(1) of the Act.

This Determination represents a continuation of Determination No.1 of 1996 which expires on 25 August 2001. Determination No.1 of 1996 was itself effectively a continuation of Determination 1991 No 1.

This Determination shall take effect on 26 August 2001 and shall lapse, unless continued by a further Determination of the Federal Privacy Commissioner, on 25 February 2002.

Dated 23 August 2001 MALCOLM CROMPTON Federal Privacy Commissioner

DETERMINATION 2001 No. 1 UNDER s.11B(1)(b)(v)(B) ON STATUS OF CREDIT PROVIDERS - REASONS FOR DETERMINATION

Background

On 11 September 1991 the then Commissioner issued Determination 1991 No. 1 under section 11B(1)( b)(v)(B) of the Privacy Act which deals with the definition of "credit provider" for the purposes of the Act. Under that determination all corporations belonging to certain classes were to be regarded as credit providers. At the same time the Commissioner issued a statement of reasons for the Determination.

Determination 1991 No. 1 lapsed on 25 August 1993 and was continued, without amendment, by Determination No.1 of 1993. It was again continued, without amendment, by Determination No.1 of 1996.

Consultation

In reviewing Determination No.1 of 1996 I am undertaking consultation with relevant credit providers, Credit Advantage Ltd. and consumer oriented legal centres. This process has not yet been finalised.

As to the life of the Determination, I have taken the view that it should not be open-ended, but should be the subject of further review once there have been sufficient responses from interested consumer and credit industry bodies as to its continued operation. I consider that a period of 6 months commencing on 26 August 2001 is appropriate for this purpose. I have therefore included in the Determination that it is to lapse unless continued by a further determination on 26 February 2002. In the meantime, I will monitor the operation of the Determination in order to determine whether it should continue after 25 February 2002.

Malcolm Crompton Privacy Commissioner

23 August 2001

For further information please contact

Privacy Commissioner GPO Box 5218 Sydney NSW 1042

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