Resources for Consultants


Credit reporting legislative framework:

  • Privacy Act
    The Privacy Act 1988 (Privacy Act) regulates how personal information is handled. The Privacy Act defines personal information as:
    …information or an opinion, whether true or not, and whether recorded in a material form or not, about an identified individual, or an individual who is reasonably identifiable.
    Common examples are an individual’s name, signature, address, telephone number, date of birth, medical records, bank account details and commentary or opinion about a person.
    The Privacy Act includes thirteen Australian Privacy Principles (APPs), which apply to some private sector organisations, as well as most Australian and Norfolk Island Government agencies. These are collectively referred to as ‘APP entities’. The Privacy Act also regulates the privacy component of the consumer credit reporting system, tax file numbers, and health and medical research.
  • Australian Privacy Principles
    The Australian Privacy Principles (APPs), which are contained in schedule 1 of the Privacy Act 1988 (Privacy Act), outline how organisations should handle, use and manage personal information. It applies to most government agencies, all private sector and not-for-profit organisations with an annual turnover of more than $3 million, all private health service providers and some small businesses (collectively called ‘APP entities’).
  • Privacy Regulations
    The Privacy Regulation 2013 relate to various provisions of the Privacy Act. It provides additional and supporting information in relation to provisions of the Privacy Act. 
  • Privacy (Credit Reporting) Code 2014
    Part IIIA of the Privacy Act 1988 (Privacy Act) regulates consumer credit reporting in Australia. Part IIIA is supported by the Privacy Regulation 2013 and the Privacy (Credit Reporting) Code 2014 (CR code). The CR Code is a mandatory code that binds participants in the credit reporting system. The CR code supplements the provisions contained in the Privacy Act and Regulations.

Research and guides of interest

  • RG 209 Credit licensing: Responsible lending conduct
    This is a guide for credit licensees, credit applicants and unlicensed carried over instrument lenders (unlicensed COI lenders). It sets out ASIC’s expectations for meeting the responsible lending obligations in the National Consumer Credit Protection Act 2009.
  • RG 165 Licensing: Internal and external dispute resolution
    This guide explains what AFS licensees, unlicensed product issuers, unlicensed secondary sellers, credit licensees, credit representatives, unlicensed carried over instrument lenders (unlicensed COI lenders) and securitisation bodies must do to have a dispute resolution system in place that meets ASIC’s requirements.
  • Senate Standing Committee on Legal and Constitutional Affairs Inquiry into the Privacy Amendment (Enhancing Privacy Protection) Bill 2012
    In June 2012 the Senate referred the bills to implement comprehensive credit reporting in Australia for a major parliamentary inquiry. The submissions to the inquiry, inquiry report and the government’s written response to the inquiry are useful background reading to the credit reporting reforms occurring in Australia.
    The bill homepage is available here:
  • Senate Standing Committee on Finance and Public Administration Inquiry into the Exposure Drafts of Australian Privacy Amendment Legislation
    In June 2010 this Senate committee commenced an inquiry into the proposed changes to the Privacy Act (the Privacy Amendment Legislation). This Inquiry was one of several that examined the proposal for comprehensive credit reporting in Australia.
  • For Your Information: Australian Privacy Law and Practice (ALRC Report 108)
    ALRC Report 108 (tabled August 2008) represents the culmination of a 28-month inquiry into the extent to which the Privacy Act 1988 (Cth) and related laws continue to provide an effective framework for the protection of privacy in Australia.
    ​This Inquiry resulted in a three-volume report, containing 74 chapters and 295 recommendations for reform.

Financial System Inquiry

The Financial System Inquiry will establish a direction for the future of Australia's financial system. The Inquiry will lay out a 'blueprint' for the financial system over the next decade. 

Productivity Commission

The Productivity Commission provided independent research and advice to Government on economic, social and environmental issues affecting the welfare of Australians.