Module Four Flashcards
12 Information Privacy Principles:
One, Purpose for collection of personal information
Must only be collected for a lawful purpose, be necessary and relevant.
12 Information Privacy Principles:
Two, source of personal information.
Should normally be collected from the individual concerned.
12 Information Privacy Principles:
Three, collection of information from subject.
Individuals should be given full details about the information collected.
12 Information Privacy Principles:
Four, manner of collection of personal information.
Information must be collected in a lawful, fair and non-intrusive way.
12 Information Privacy Principles:
Five, Storage and security of personal information.
Information held by an agency must be kept safe and secure.
12 Information Privacy Principles:
Six, Access to personal information.
An individual must have access to information about them.
12 Information Privacy Principles:
Seven, Correction of personal information.
An individual must be able to correct information about them.
12 Information Privacy Principles:
Eight: Accuracy of personal information to be checked before use.
An agency must make sure information is correct before using it.
12 Information Privacy Principles:
Nine, Agency is not to keep personal information for longer than necessary.
Only keep information as long as it’s needed.
12 Information Privacy Principles:
Ten, Limits on use of personal information.
An agency may only use information for the purpose for which it was collected.
12 Information Privacy Principles:
Eleven: Limits on disclosure of personal information.
Generally an agency must not disclose information unless required by law.
12 Information Privacy Principles:
Twelve, Unique identifiers.
… must not assign a unique identifier to an individual such as a number unless necessary and the person can not be identified.
Enforcement of the Consumer Guarantees Act: If the problem can be remedied the consumer can…
- Require the supplier to remedy it within a reasonable time.
- if supplier fails or refuses, have it remedied elsewhere and recover costs from the supplier.
Enforcement of the Consumer Guarantees Act: if a problem can’t be remedied and is substantial…
- cancel the contract.
- claim compensation.
Enforcement of the Consumer Guarantees Act: claims are handled by …
The Disputes Tribunal or the District Court.
Enforcement of the Consumer Guarantees Act: Exceptions to the right of redress…
- act/fault/omission or representation made by anyone other than the supplier/servant or agent of the supplier.
- a cause independent of human control.
A Consumer complains to the FMA: If the breach concerns the FAA, who investigates the complaint?
The FMA.
A Consumer complains to the FMA: If the breach concerns the Code, who investigates the complaint?
The Disciplinary Committee.
Information regarding the identity of an AFA or their client is protected under the FAA in the event they lodge a complaint. This means that …
If a report is made in good faith the AFA will not face legal repercussions or termination of employment as a consequence.
The FMA may issue a direction for two types of offence:
- breach of a disclosure or conduct obligation.
- breach of the terms and conditions of their authorisation.
Enforcement of FAA:
What time period does a Temporary banning order cover?
If issuing the order what must the FMA do?
- 14 days or fewer.
- Notify the AFA in writing, publish the name and period the ban applies to.
Enforcement of FAA:
To apply an injunction the FMA must apply to the high court. What is an injunction?
An injunction restrains or compels a certain action. i.e. the high court may order a person to refrain from conduct that contravenes the Act.
Enforcement of FAA:
To achieve a compensation order the FMA must apply to the high court.
The High Court can impose a fine or ‘pecuniary order’ for what?
- Contravening the requirements for accepting a client as an eligible investor.
- This may be imposed within 3 years of the contravention.
Enforcement of FAA:
To achieve a compensation order the FMA must apply to the high court.
An application may be made by the ___ or the ________ person within ______ .of the pecuniary order.
- FMA
- affected person
- One year
Enforcement of FAA:
Right of Appeal
FMA or the Committee must notify the person of the right of appeal and the time limit an appeal must be lodged.
What is the time limit?
- within 20 working days of the order
What is Unsubstantiated Representation?
Where a person does not have reasonable grounds to make a claim about a product or service.
What is the purpose of a contravention order?
To allow a person to apply for a compensatory order without having the burden of proving the contravention I.e the order is conclusive evidence.
