PRIVACY DISCLOSURE STATEMENT & CONSENT
Overview The information we obtain from you is used, subject to
Magnolia Lane Financial Services Pty Ltd ACN 600 900 329, (‘we’, compliance with Australia’s privacy and credit reporting laws,
‘us’, ‘our’) collects information about you for the purposes you only for the purposes listed in this Consent and is not disclosed
agree to in this Privacy Disclosure Statement and Consent. When to any other person except with your permission or as permitted,
you sign below, you agree we can, consistently with Australia’s or required, by law.
privacy and credit reporting laws, collect, use and exchange
consumer and/or commercial credit and personal information Credit Providers
(‘information’) about you for those purposes. As part of providing our services to you, we may undertake tasks
for a credit provider which are reasonably necessary to manage
Privacy Disclosure Statement and Consent the application process. When doing so, we are acting as agent
We are collecting information about you, as applicable: for the credit provider, with the same privacy law requirements
o To source for you, or a company of which you are a director: applying to both of us.
• Consumer credit for personal, household, domestic or
residential investment purposes; We may submit your application to one or more credit providers.
• Commercial credit for business purposes; or Those credit providers and their website addresses are set out in
• Other services stated in this Privacy Disclosure the Schedule 1 at the end of this document.
Statement and Consent (Consent); or
o To support a guarantor application you will provide. A credit provider, to whom we submit an application, may
disclose information about you to, and collect information about
As your broker, we require the information we collect from you you from, one or more Consumer CRS or Commercial CRS.
to assess your credit, or guarantor, application or the credit
application of a company of which you are a director, source a The website of each credit provider contains details of each
suitable credit provider and any required insurances and to Consumer CRS and Commercial CRS with which it deals and other
manage the application process, where required. If you do not details about information held about you, including whether that
provide the information sought we may be unable to process information may be held or disclosed overseas and, if so, in which
your application, or the company’s application, or we may be countries. The websites also describe your key rights. These
limited in the other services we can offer you or the company. details may be described on the credit providers’ websites as
‘notifiable matters’, ‘privacy policy’, ‘credit reporting policy’ or
Your information – Collection and Disclosure ‘privacy disclosure statement and consent’, or similar.
When we collect information from you in the credit or guarantor
application process, we use that information in a number of ways For each Consumer CRS a credit provider uses the website details
to assess your application and, where appropriate, to source a will include the following specific information:
suitable credit provider or lessor and/or insurance provider. We • That the CRS may include information the credit provider
may, as appropriate: discloses about you to other credit providers to assess your
• Disclose your identification information to a consumer credit credit worthiness
reporting service (‘Consumer CRS) and/or a commercial • That, if you become overdue in making consumer credit
credit reporting service (‘Commercial CRS’), if you wish us to payments or you commit a serious credit infringement, the
obtain a report on your behalf; credit provider may disclose that information to the Service
• Use any information a credit reporting service provides in its • How you can obtain the credit provider’s and/or the
Service’s policies about managing your information
report to assist us to preliminarily assess your credit or
• Your right to access and/or correct information held about
guarantor application;
you and to complain about conduct that may breach the
• Disclose your information to an insurer or insurers to source privacy and credit reporting laws
any insurances you wish to obtain; and • Your right to request a CRS not to undertake pre-screening
• Disclose your information to a credit provider or credit for purposes of direct marketing by a credit provider
providers to apply for finance on your behalf. • Your right to request a CRS not to release information about
you if you believe you are a victim of fraud
1
• Provide you, or the company of which you are a director,
This detail will also be included by the credit provider who with offers or information of other goods or services we, or
approves your application in the privacy disclosure statement any of our associated entities, may be able to provide to you
and consent document it will provide to you. or the company, unless you tell us not to;
• Disclose your information to the extent permitted by law to
Each credit provider website includes information on how to other organisations that provide us with services, such as
contact it and how to obtain a copy of its privacy documents in a contractors, agents, printers, mail houses, lawyers,
form that suits you (e.g. hardcopy or email). document custodians, securitisers and computer systems
consultants or providers, so they can perform those services
Your rights for us. This includes our overseas service providers in New
You have the right to ask: Zealand, Philippines, India, Singapore and the United States
• Us to provide you with all the information we hold about you of America; and
• Us to correct the information we hold if it is incorrect • Disclose your information to any other organisation that
• Us for copies of our privacy policy and this document, in a may wish to acquire, or has acquired, an interest in our
form that suits you (e.g. hardcopy or email) business or any rights under your contract with us, or the
• A Consumer CRS not to use your information for direct contract with us of a company of which you are a director.
marketing assessment purposes, including pre-screening
You also agree and consent to, as appropriate:
• A credit reporting service to provide you with a copy of any
• A Consumer CRS disclosing information to one or more
information it holds about you credit providers specified in Schedule 1 at the end of this
You can gain access to the information we hold about you by document for the purpose of assessing your application for
contacting our Privacy Officer at the address above or by consumer or commercial credit or your guarantor
telephone on (02) 8287 3000 or email at application, and/or assessing a credit application by a
admin@[Link]. In some cases an administration company of which you are a director
fee may be charged to cover the cost of providing the • When you are a prospective guarantor, a credit provider
information. Our Privacy Policy is available on our website at using that information to assess your suitability as a
[Link] or we will provide you with a copy if guarantor
you ask us. • A credit provider disclosing your information (including
information obtained by it from a Consumer CRS) to a
Schedule 2 at the end of this document sets out the contact guarantor, or a prospective guarantor
details for each credit reporting service. • A credit provider disclosing to another credit provider, to
your agent, such as us as your broker, or to a servicer, for a
Disclosure and Consent particular purpose, information it holds about you
By signing below, you agree we may:
• Use your information: Extended Effectiveness for Commercial Credit
o To assess your consumer or commercial credit and/or Your agreement and consent to the disclosures and consents in
guarantee application and/or to assess a credit this document will be effective for a period of 12 months, but
application by a company of which you are a director only in relation to commercial credit. Your agreement to this
o To source any finances you required ceases when you either withdraw it by contacting us using our
o To source any insurances you require details above or 12 months after you sign below, whichever first
o As the law authorises or requires; occurs. This will allow us to continue to provide our services to
• Disclose to, and obtain from, any prospective credit provider you without the need to ask you to sign a new privacy statement
or insurer, information about you that is reasonably and consent each time you require commercial credit within a 12
necessary to obtain the finance and insurances you require; month period. The extended effectiveness does not apply in
• Obtain from, and disclose to, any third party, information relation to consumer credit.
about you, the applicant(s) or guarantor(s) that is reasonably
necessary to assist you obtain the finance and insurances Where the applicant, or guarantor, is a company of which you are
required; a director, you consent to the disclosure and use of your
• Provide your information, including your credit report(s), to information, in addition to the company’s information, in each of
one or more of the credit providers specified in Schedule 1 the ways specified in this document.
at the end of this document so they can assess your
application, or the application of a company of which you are Authorisation
a director, or your suitability as a guarantor By signing this document, you authorise us to make a request on
your behalf to obtain information about you from one or more
• Provide information about you to a guarantor, or
credit reporting service(s) and credit provider(s). That
prospective guarantor;
information will assist us in providing our services to you.