This is the Privacy Policy of GPS Investment Fund Limited that has also been adopted by GPS Development Finance Pty Ltd. (ABN 39 081 849 274).
GPS Investment Fund Limited
ABN 40 145 378 383 AFSL No. 383080
Original Date of Issue: 13 December 2013
Updated: 25 February 2019
GPS Investment Fund Limited (GPS) is the Responsible Entity and Issuer for the following investment funds:
GPS Invest Pooled Fund (ARSN 149 257 410)
GPS Invest Select Fund (ARSN 149 257 401)
RARD No 3 Mortgage Fund (ARSN 605 008 535)
GPS Invest Private Fund (ARSN 602 348 292)
Colvin Mortgage Fund (ARSN 602 099 169)(the Funds).
GPS, as Responsible Entity and Fund Manager for the Funds, together with Perpetual Corporate Trust Limited ABN 99 000 341 533 as Custodian for the Funds, also provide commercial credit to approved borrowers.
This Privacy Policy is intended to provide a summary of GPS’ current approach to the handling of personal information (including credit – related information). GPS is committed to complying with the Privacy Act 1988 (Cth) (including the Australian Privacy Principles) and the Credit Reporting Privacy Code (CR Code).
GPS will provide a free copy of this policy to anyone who asks for it.
1. Types of information GPS collects
The kinds of personal information we collect will depend upon the purposes for which it is collected.
When an individual applies for a product or service we will collect the information we consider is or may be necessary to enable us to assess the application, to provide the product or service, and to administer the product or service after it has been provided.
When an individual applies for investment in one of the Funds we will collect the information necessary to record their details in the relevant Fund’s register, identify them and contact them. This will include the individual’s name, tax file number, address and other contact details.
We will collect information regarding transactions conducted by investors on their accounts, to enable us to properly identify them and process those transactions and meet our record keeping obligations.
If an individual applies for a loan, the information we collect may include information to identify the applicant, information required about the applicant’s business experience, employment and employment history, residential history, assets, liabilities, income, company financial information, expenses and credit history.
If an individual is to be a signatory on an account we will collect the information necessary to identify the individual in accordance with our legal obligations. This might include information such as the individuals’ drivers licence number or passport details.
We may collect credit reporting information about individual loan applicants or guarantors. We always obtain written consent before doing this. The types of credit reporting information that may be provided to GPS by credit reporting bodies includes:
- identity details;
- credit history;
- commercial credit enquiries;
- consumer payment default history;
- Personal Property Security Register details; and
- Public record information such as court judgements, details of companies of which you are a director or businesses of which you are a proprietor, details of previous and disqualified directorships and bankruptcy information.
How does GPS collect and hold personal information?
We will generally collect the personal information we need about an individual directly from that individual directly whenever it is reasonable and practicable to do so (e.g. face to face, telephone or through completion of forms). We may do so when:
- an individual applies for investment in the Funds, applies for any of our products or services or becomes a signatory on an account with us;
- an investor contacts us in relation to products or services we have supplied to that investor; or
- an individual contacts us to enquire about investing or about our products and services.
We may also obtain personal information (including credit-related information) about an individual who is seeking credit or who has offered to be a guarantor, from third parties including:
- from a credit reporting body such as Veda Advantage, or another credit provider, if the individual has given consent in accordance with Part IIIA of the Privacy Act 1988;
- from a finance broker or a supplier of goods or services who introduces the individual to us, if we are satisfied that the party supplying the information to us has the right to do so and has obtained any necessary consent from the individual;
- other credit providers;
- any referees an individual provides;
- other third party services providers;
- publicly accessible databases.
If an individual is seeking credit we may contact the individual’s employer to confirm that the employer employs the individual.
If a borrower has defaulted in repaying credit, and we have made reasonable and unsuccessful attempts to contact the borrower using their last known contact details, and there is reasonable grounds to believe that they have moved without notifying us of their new contact details, we may contact relatives or friends of the borrower to ascertain their current contact details, or we may retain an enquiry agent to attempt to locate the borrower.
We will collect information regarding operation of an investor’s account when processing transactions conducted on the account.
If an individual visits the GPS website, our internet service provider can record certain information about that individual’s visit including:
- internet address;
- domain name;
- internet service provider;
- the date and time of the visit to the website;
- the length of the session;
- the pages accessed;
- the website that referred to our website;
- the type and version of the browser;
- the operating system used.
This information is only used for statistical and website development purposes, and does not personally identify the individual.
GPS may also collect names, email addresses and contact telephone numbers from enquiries sent using our website.
Personal information may be disclosed to our agents, contractors or third party service providers who provide administrative, telecommunications or other services to us in connection with our business. We may also disclose limited aspects of personal information to our professional advisers such as our solicitors or auditors where this is necessary for them to properly advise us in relation to our business functions or operations.
Other entities we may disclose personal information to in the course of our business include:
- our related companies including GPS Development Finance Pty Ltd ABN 39 081 849 274;
- Perpetual Corporate Trust Limited ABN 99 000 341 533, the Custodian of the Funds;
- recipients of product disclosure statements, and supplementary product disclosure statements, as part of our need to comply with good disclosure principles under the Corporations Act 2001 (Cth);
- debt collection agencies;
- regulatory bodies such as ASIC and APRA;
- government agencies, law enforcement bodies and Courts;
- other credit providers such as banks;
- referees and guarantors nominated by customers;
- authorised agents, financial advisors, lawyers and other professional representatives nominated by customers;
- our service providers, contractors, agents, partners, auditors, lawyers and other professional advisors.
2. Why does GPS need personal information?
We will not collect, hold, use or disclose personal information unless it is necessary for one or more of our business functions or activities, including:
- to assist potential investors with queries;
- to process applications for investment in the Funds;
- to assess and action loan applications, including seeking credit reporting information from credit reporting bodies such as Veda Advantage;
- to give investors the information to which they are entitled, under the Corporations Act 2001 (Cth) and the relevant Fund’s constitution;
- to assess products and services, and to administer products and services that have been supplied;
- to comply with our legal and regulatory obligations;
- to report on credential or risk management matters;
- to detect and prevent fraud and other illegal activity;
- to help us plan and to develop our products and services available from us; and
- to give our investors, borrowers and customer’s information about products and services available from us and other organisations that we think may be of interest to them.
We never sell or disclose any personal information to third parties for direct marketing by other organisations.
We never use sensitive information or credit eligibility information for direct marketing purposes without that individual’s consent.
3. Credit- related information
This section provides more information about how we deal with credit-related information.
Credit reporting information is only sought by GPS with the written consent of the individual borrower or guarantor concerned.
GPS may provide the following types of credit information to credit reporting bodies with a request for credit reporting information:
- Name;
- Date of birth and sex;
- Driver’s licence or other identification information;
- Current and previous addresses;
- Current and last employer;
- The fact that the individual has applied for credit (including the type of credit and the amount of credit).
GPS may use and disclose credit information and credit eligibility information, as well as other information provided by borrowers and guarantors, as follows:
- to verify identity;
- to assess an application for credit;
- for credit guarantee purposes;
- for securitisation purposes;
- for the purpose of assisting an individual to avoid defaulting with respect to any credit provided by GPS;
- to disclose to debt collectors for the purpose of collecting overdue payments;
- to provide information to an Australian mortgage insurer for a mortgage insurance purpose;
- to seek from and use or give to another Australian credit provider any information about an individual’s account, credit worthiness, credit standing, credit history or credit capacity;
- to seek from and use or give to any originator, financial consultant, agent, accountant, lawyer, or other adviser acting in connection with any financing provided or proposed to be provided by GPS;
- to provide information to any person who proposes to guarantee or has guaranteed repayment of any credit provided to an individual, or who has provided property as security for any credit provided to an individual;
- to establish, provide and administer any credit facility and to perform any other internal administrative and management functions and operations directly related to the provision or management of credit;
- as required or permitted by law;
- to our related bodies corporate for any of the above purposes;
- to people considering acquiring an interest in our business or assets.
The kinds of information GPS may derive from credit reporting information obtained from Veda includes an opinion about your eligibility for credit.
Credit eligibility information will be held and used in accordance with Part IIIA of the Privacy Act 1988 (Cth), this policy, and the terms of the consent provided by the relevant individual.
GPS is not likely to disclose any credit information or credit eligibility information to entities that do not have an Australian link.
4. Government related identifiers
We do not use any government related identifiers, such as driver’s licence numbers, as its own internal identifier of any individual. We will not use or disclose any government related identifiers other than in accordance with the Privacy Act 1988 (Cth).
5. Data integrity and security
GPS tries to ensure that all personal information it holds is accurate, complete and up-to-date. To assist us with this, individuals should contact us if any of their personal information changes, or if they believe that the personal information we have is not accurate or complete.
GPS takes reasonable steps to protect the personal information that it holds from misuse, interference or loss, or from unauthorised access, modification or disclosure.
If GPS no longer requires personal information that it holds, it will take such steps as are reasonable in the circumstances to destroy the information or ensure that the information is de-identified.
6. Disclosure of data overseas
We are unlikely to disclose an individuals’ personal information to overseas recipients.
7. Access and correction
Individuals can ask GPS for access to their personal information held by GPS (including credit – related information) by sending a written request to our Privacy Officer at Email: info@gpsinvest.com.au. The request must identify the individual and, with reasonable particularity, the information required. We may require the application to be made using a form supplied by us for that purpose.
GPS does not impose a charge for making a request for access, however we may charge for reasonable administrative costs incurred in providing access.
An individual can ask GPS to correct or update that individual’s personal information (including credit information. GPS does not impose any charge with respect to requests for correction or updates.
Before correcting or providing access to personal information in response to a request, GPS will require the individual’s identity to be confirmed.
Requests for access or correction may be refused upon the grounds contained in the Privacy Act 1988 (Cth). If we refuse to provide access, or to correct personal information, we will provide reasons for the refusal.
GPS will respond to an individual’s request for access as soon as reasonably practicable, taking into account the age, nature and amount of the information requested.
Individuals have the right to request of copy of the credit information that Veda holds about them and to have the credit information corrected if it is inaccurate. To contact Veda Advantage see www.veda.com.au.
8. Notifiable Matters
We will notify individuals and the Office of the Australian Information Commissioner about ‘eligible data breaches’ where the breach is likely, in the viewpoint of a reasonable person in our position, to result in serious harm to any of the individuals to whom the information relates.
The following diagram provides an overview of a typical data breach response, including the requirements of the Notifiable Date Breaches scheme. This diagram is a summary, and should be read with reference to the more detailed resources listed above.
9. Complaints
Any privacy related complaint (including complaints about breaches of the Privacy Act 1988 (Cth) or the CR Code) should be directed to our Disputes Resolution Officer at:
GPS Investment Fund Limited
GPO Box 2252
BRISBANE QLD 4001
Telephone: 1800 999 109
Email: info@gpsinvest.com.au
No charge will be imposed for the making of a complaint, or for dealing with the complaint.
Any complaint made to GPS, or to an officer of GPS other than the Disputes Resolution Officer, that is related to privacy will be referred to the Dispute Resolution Officer (or if the complaint relates to the Dispute Resolution Officer, to GPS’ Compliance Officer).
GPS will provide a written notice within 7 days that acknowledges the complaint and sets out how the complaint will be dealt with. GPS will also investigate the complaint. This may involve consultation with other credit providers or credit reporting bodies. GPS will, within 30 days after the date that a complaint is made, set out in writing its decision following the investigation and details of the right to refer to our external dispute resolution scheme, namely:
Australian Financial Complaints Authority (“AFCA”)
Contact details are as follows:
Online: www.afca.org.au
Email: info@afca.org.au
Phone: 1800 931 678 (free call)
Mail: Australian Financial Complaints Authority
GPO Box 3, Melbourne VIC 3001
You may also contact the Office of the Australian Information Commissioner at:
GPO Box 5218
SYDNEY NSW 2001
Telephone: 1300 363 992
Website: www.oaic.gov.au
10. Additional matters
This document does not create any legally enforceable rights or obligations beyond the rights and obligations created by the Privacy Act 1988 (Cth) or the CR Code. This policy may be varied from time to time.