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Section : 20V Destruction etc. of credit reporting information after the retention period ends
Domain : Human Resource Management
Classification : Not Identified
Text Content
- (1) This section applies if:
- (a) a credit reporting body holds credit information about an individual; and
- (b) the retention period for the information ends.
- Note: There is no retention period for identification information or credit information of a kind referred to in paragraph 6N(k). Destruction etc. of credit information
- (2) The credit reporting body must destroy the credit information, or ensure that the information is de-identified, within 1 month after the retention period for the information ends. Civil penalty:
- 1,000 penalty units.
- (3) Despite subsection (2), the credit reporting body must neither destroy the credit information nor ensure that the information is de-identified, if immediately before the retention period ends:
- (a) there is a pending correction request in relation to the information; or
- (b) there is a pending dispute in relation to the information. Civil penalty:
- 500 penalty units.
- (4) Subsection (2) does not apply if the credit reporting body is required by or under an Australian law, or a court/tribunal order, to retain the credit information.