Legislation
Provisions in the Privacy Act 1988 (Cth) (the "Act") affecting private sector organisations came into effect on 21 December 2001. The legislation aims to protect the privacy of an individual's personal information and affects how we collect, use, disclose and maintain this information. Ten National Privacy Principles (NPPs) are contained in the Act and are legally binding. Our Privacy Policy is consistent with the NPPs. There is an exemption in the Act in regard to our acts and practices in relation to records of employees, current and former.
Application
The Act applies to personal information collected about natural persons, and not just natural persons in a client relationship. That is, it applies to personal information collected on, for example, employees of contractors and service providers. The Act also applies to personal information collected on individuals who represent a client, such as a superannuation fund or a company, whether as a unitholder of one of our Trusts or with a discrete portfolio.
Information held and means of collection
The kinds of personal information held by us in relation to clients include:
name and address;
phone and fax numbers and email address;
tax file number;
Australian Business Number (ABN) and/or Australian Company Number (ACN);
bank account details; and
if relevant, details as to status as a professional or wholesale investor under the Corporations Act 2001.
We do not collect any ´sensitive´ information (e.g. about health or ethnic origin), as defined in the Act. We typically collect personal information at the time a client establishes an investment account with us, either from the client or the client´s financial adviser. If a unitholder in one of our Trusts, the information is collected in the first instance when an application form is submitted. Additional information may be collected in the course of subsequent correspondence about the client´s investment with us, including during performance review meetings. Information held by us on individuals who are not clients will be similar to the above kinds of personal information and will typically be collected at the time of establishing the business relationship and subsequently.
Purpose for holding the information and permitted disclosure of the information
If you are a client, the primary purpose of us collecting and holding this information is to be able to accept your applications, manage your investment and to communicate with you about your investment. Most of the information is required by the Corporations Act 2001, the Superannuation Industry (Supervision) Act 1993, the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) or Taxation law. In the course of carrying on our business, we may disclose personal information to the Trusts´ or our client´s custodian and bank, and to external service providers such as information technology contractors, auditors, tax advisors, consultants, lawyers, print service providers and mail houses. Information will only be disclosed to such external service providers for business reasons or to meet statutory obligations. For instance, the IT contractor will use this information solely for the purpose of designing, modifying and testing computer programs that will enable us carry out our business more effectively. Where necessary we have agreements in place with all these organisations confirming that they will comply with the NPPs in respect of all information they collect relating to investors who are individuals. Those agreements include the obligation to take reasonable steps to protect that personal information from misuse or loss, and from unauthorised access, modification or disclosure. If directed by you we may also disclose this information to whomsoever you direct, such as your financial adviser. We may also disclose personal information to your financial institution, for the purpose of paying redemption proceeds and distributions. We may also disclose personal information to third parties, such as the Australian Tax Office, if required by law. If you are not a client, the primary purpose of us collecting and holding this information is to be able to enter into contractual arrangements and to facilitate the business relationship.
Storage of information
We hold personal information in both paper and electronic form. Personal information held in electronic form is regularly backed-up and stored in a secure off-site location. We will destroy or de-identify personal information once permitted by law and if we no longer need it for any purpose.
Access
Access requests for personal information must be in writing and must satisfy our internal procedures that the individual making the request is the same person as the subject of the request. If a request for access is received and accepted, we will typically grant access by giving a copy of the personal information, or a summary, to them. The means of delivery can be in person at our office, verbally over the phone, by mail, by fax or by email. We may refuse access to all or part of a person´s personal information for various reasons permitted under the Act, such as if access would reveal evaluative information generated in connection with a commercially sensitive decision-making process. Our aim is to respond to access requests within ten business days, with either the information requested, or if the request is denied, the reason therefore. We do not intend at this stage to charge a fee for access requests. If you tell us that any of the personal information we hold is not accurate, complete or up-to-date, we will usually correct the information.
Privacy Officer and Complaints
The Privacy Officer for the Company is the Compliance Manager. In the absence of the Compliance
Manager, the Head of Compliance will act as Privacy Officer. If you have a complaint about a privacy matter, please contact the Compliance
Manager on (02) 8226 6200.
Contact details
Please address all enquiries to:
Mr Tim Hordern
Head of Business Development and Client Services
Maple-Brown Abbott Limited
Level 30
20 Bond Street
Sydney NSW 2000
Australia
Phone: (02) 8226 6200
Fax: (02) 8226 6201
Email:
invest@maple-brownabbott.com.au
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