Section 21P — Privacy Act 1988: Notification of a refusal of an application for consumer credit

(1) This section applies if: (a) a credit provider refuses an application for consumer credit made in Australia: (i) by an individual; or (ii) jointly by an individual and one or more other persons (the other applicants); and (b) the refusal is based wholly or partly on credit eligibility information about one or more of the following: (i) the individual; (ii) a person who is proposing to act as a guarantor in relation to the consumer credit; (iii) if the application is an application of a kind referred to in subparagraph (a)(ii)—one of the other applicants; and (c) a credit reporting body disclosed the relevant credit reporting information to the provider for the purposes of assessing the application. (2) The credit provider must, within a reasonable period after refusing the application, give the individual a written notice that: (a) states that the application has been refused; and (b) states that the refusal is based wholly or partly on credit eligibility information about one or more of the persons referred to in paragraph (1)(b); and (c) if that information is about the individual—sets out: (i) the name and contact details of the credit reporting body that disclosed the relevant credit reporting information to the provider; and (ii) any other matter specified in the registered CR code.