Introduction

Purpose

The purpose of this Policy is to implement processes and procedures governing the collection, use and disclosure of personal information by SP Capital, their related entities, employees and representatives to assist in providing effective credit assistance.

 

Regulation

This Policy has been prepared in line with the National Consumer Credit Protection Act 2009 (Cth) (the Act), the Privacy Act 1988 (Cth) (Privacy Act), Australian Privacy Principles (APPs), any other relevant privacy laws and ASIC’s Regulatory Guide 205: General Conduct Obligations (RG 205).

 

Commitment

SP Capital is committed to complying with the obligations it has as a Credit Licensee and conducting its business in accordance with all applicable laws and regulations, in a way that enhances its reputation in the market. This commitment includes:

• having Board and/or senior management oversight of SP Capital’s privacy processes and requirements;
• establishing and promoting this Policy; and
• appropriately collecting, using and disclosing confidential information.

All staff and representatives of SP Capital must comply with applicable legislation, rules, regulations and internal policies and procedures. Staff members and representatives must follow the procedures in this Policy relating to outsourcing obligations.

 

Confidential Information

Personal Information

This Policy refers to ‘personal information’, which means information from which your identity is reasonably apparent.

The personal information that SP Capital may collect in the course of its business operations may include the following:

• name;
• address;
• date of birth;
• contact details;
• gender;
• marital status;
• occupation;
• bank account details;
• financial information;
• any other personal information SP Capital may require to perform its services.

SP Capital will only collect personal information and credit-related information from you where it is necessary to identify you to provide you with credit assistance or perform related functions. We are subject to legislative and regulatory requirements that require us to obtain and hold detailed information that personally identifies you and/or expresses an opinion about some or all aspects of your personal and financial position.

Where reasonable and practicable, we will collect your personal information directly from you. We may verify information from sources referred to in the responses to those enquiries or in this Privacy Policy.

SP Capital’s functions include operating as a credit assistance provider to assist clients in obtaining financing from a wide range of credit providers.

 

Sensitive Information

SP Capital must not collect sensitive information about an individual unless:

• the individual consents to the collection of the information and the information is reasonably necessary for one or more of SP Capital’s functions; or
• The collection of the information is required or authorised by or under an Australian law or Court Order.

 

Collection of Information

Means for Collection

SP Capital must only collect personal information by lawful and fair means about an individual from the individual themselves unless it is unreasonable to do so or the individual has providing SP Capital consent to liaise with another entity regarding the collection of such personal information.

SP Capital will collect personal information from an individual when:

• an individual makes an initial enquiry through the website, email or phone;
• when SP Capital requires personal information to conduct a credit assessment;
• when SP Capital requires personal information to finalise a credit assessment;

 

Purpose for Collection

An individual’s personal information may be acquired by SP Capital for a variety of reasons including:

• to conduct an effective credit assessment on its client;
• to finalise a credit assessment on its client;
• to assist the client in obtaining a loan from a credit provider;
• to determine whether a client is suitable for a specific product issued by a credit provider;
• protection against fraud, crime or other activity;
  responding to a complaint;
• complying with legislative and regulatory requirements;
• to assist SP Capital in the operations of its business; or
• any other reason for which SP Capital may require the personal information.

 

Unsolicited Personal Information

If SP Capital receives personal information about an individual that has not been solicited by SP Capital, it must, within a reasonable time period, determine whether or not it was permitted to collect the information.

If SP Capital determines that it could not have collected the personal information and the personal information is not contained on a public record, SP Capital must, as soon as practicable, destroy the information or ensure that the information is de-identified, only if it is law and reasonable to do so.

 

Use or Disclosure of Information

Use or Disclosure of Personal Information

Where SP Capital holds personal information about an individual that was collected for a particular purpose, SP Capital must not use or disclose information for any other purpose unless:

• the individual has provided consent for the information to be used or disclosed for another purpose;
• the individual would reasonably expect SP Capital to use or disclose the information for another purpose as the other purpose is directly related to the original purpose;
• it is required under law or a court order;
• it is a permitted general situation; or
• it is reasonably necessary for one or more enforcement-related activities.

 

To Whom Personal Information May Be Disclosed To

SP Capital may disclose Personal Information collected to the following entities:

• external service providers engaged by SP Capital;
• credit representatives;
• debt collectors;
• fraud bureaus;
• external dispute resolution schemes; or
• regulatory bodies, government agencies and law enforcement bodies.

 

Direct Marketing

SP Capital must not use or disclose personal information it holds about an individual for direct marketing unless SP Capital has received the personal information and:

• the individual would reasonably expect SP Capital to disclose the information for direct marketing purposes:
• the individual has provided SP Capital with consent;
• SP Capital provides the individual with an option to opt out of receiving direct marketing;
• the individual has not opted out of receiving direct marketing.

SP Capital must provide such individuals with an option to opt out of receiving direct marketing communications at all times, and if SP Capital receives such a request, SP Capital must cease to provide the individual with direct marketing communications within a reasonable time period.

SP Capital must cease to conduct any direct marketing communications if, in any case, SP Capital may be in breach of the Spam Act 2003 (Cth).

 

Overseas Disclosure of Information

Disclosing Personal Information Overseas

SP Capital may disclose personal information about an individual to a recipient overseas. In doing so, SP Capital must ensure that the overseas recipient does not breach Australian privacy laws.

The exceptions to this requirement include:

• the personal information is subject to laws that have the effect of protecting the information in a way that is significantly similar to the way in which Australian privacy laws protect the information and the individual can access an opportunity to take action to enforce that protection;
• SP Capital has obtained consent from the individual before doing so;
• it required under law or a court order; or
• it is a permitted general situation.

 

Government Identifiers

SP Capital may collect government identifiers when providing a client with credit assistance, such as your tax file number. SP Capital must not adopt these identifiers as our own identification process and must not hold this information in our systems.
Prior to SP Capital using or disclosing a government identifier of an individual, SP Capital must ensure that the disclosure is:

• reasonably necessary to verify the identity of the individual for the purposes of SP Capital’s functions;
• reasonably necessary to fulfil its obligations to a State or Federal authority;
• required under Australian law or a court order; or
• within a permitted general situation.

 

Integrity of Information

SP Capital will ensure that the personal information it collects, uses or discloses is accurate, complete, and relevant.

SP Capital will ensure that it protects all personal information of individuals it holds from misuse, interference, loss, unauthorised access, modification and disclosure. These protections will be undertaken in line with SP Capital’s cybersecurity, technological and document retention policies, processes and procedures.

SP Capital will take reasonable steps to destroy or de-identify personal information it holds where:

• it may no longer be required by SP Capital; and
• it is not required to be retained under SP Capital’s document retention requirements.

SP Capital may store personal information it holds via:

• a hard copy on site at SP Capital’s offices; or
• electronically, either on SP Capital’s secure systems or external service providers’ secure systems, which are located in Australia or in a jurisdiction that meets the exceptions under the Section ‘Overseas Disclosure of Information’.

 

Access to Personal Information

SP Capital must give access to an individual to the personal information it holds about the individual if requested by the individual within a reasonable time period.

When providing access to an individual to their personal information held by SP Capital, it must be done in a manner that is reasonable and practicable to do so.

There are certain exceptions to providing access to an individual to their personal information held by SP Capital including:

• it is reasonably believed that giving access would pose a serious threat to the health or safety of any individual or the public;
• it is reasonably believed that giving access would impact the privacy of other individuals;
• requests are vexatious;
• the information relates to legal proceedings or potential legal proceedings between.

SP Capital and the individual and it would generally not be accessible during such legal proceedings;

•  it would be in breach of an Australian law or court order; or
• denying access would be required under Australian law or a court order.

In the case that SP Capital refuses to give access to an individual to the personal information it holds, SP Capital must provide a written notice to the individual with appropriate reasoning.

 

Correction of Personal Information

If personal information held by SP Capital of an individual is inaccurate, out of date, incomplete, irrelevant or misleading, or the individual has requested to update such information, SP Capital must do so by a reasonable time period.

In the case that SP Capital refuses to correct the personal information it holds of an individual, SP Capital must provide a written notice to the individual with appropriate reasoning.

 

Cookies

A cookie is defined as a small file on your computer that contains information enabling our website to obtain recognition of your browser. SP Capital’s website may include certain functions that collect information about your visits, such as time and date, server address, pages accessed, time spent and browser type.

If an individual does not wish to permit the use of cookies when accessing SP Capital’s website, the individual may be able to adjust the settings on their browser to reject the use of cookies.

 

Links to Third Party Websites

SP Capital’s website and social media channels may contain links to websites operated by third parties. SP Capital does not maintain any form of control over those websites and does not hold responsibility for the protection and privacy of any personal information that you provide when visiting those websites.

If apparent, the individual must read and understand the privacy policy on those websites prior to providing any personal information on those websites.

 

Complaints

SP Capital is committed to ensuring that the personal information held by SP Capital relating to all individuals is secure and protected. If an individual has any concern regarding the collection, use, disclosure, or protection of their personal information, they may raise this concern directly with SP Capital through the following contact details:
• Phone: 1300059888
• Email: info@spcapital.com.au
• Mail: SP Capital Privacy office – 1421 Toorak road, Camberwell VIC 3124

If a complaint has been received, SP Capital will acknowledge receipt of the complaint within 24 hours and will take all the necessary steps to ensure that all complaints made are appropriately investigated with a final decision on the complaint being sent to the complainant within a thirty (30) day period. SP Capital will notify the complainant, with reasoning and the extension date, if SP Capital has failed to provide a final decision on the complaint within the thirty (30) day period.

All individuals are able to approach the OAIC with their complaints if they are unsatisfied with SP Capital’s processes and procedures regarding privacy.

Name: Office of the Australian Information Commissioner
Address: GPO Box 5218, Sydney NSW 2001
Phone: 1300 363 992
Email: enquiries@oaic.gov.au
Website: www.oaic.gov.au