Fractional Ownership Of A Holiday Home In Australia: FAQs

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Overview

Ko Homes Pty Ltd understands the importance of protecting individuals’ rights, to privacy. In handling personal information, Kō is subject to the Privacy Act 1988 as amended and complies with the thirteen Australian Privacy Principles set out in the Privacy Amendment (Enhancing Privacy Protection) Act 2012. We have prepared this policy to help you understand in an open and transparent way how Kō will manage your personal information and how we aim to protect the integrity and security of personal information. The policy describes the way Kō collects, uses and discloses personal information and it provides information on your rights in relation to our management of that information. This policy is available on our website at Ko.homes and may be updated from time to time. We will provide you with a copy of the policy on request free of charge.

What information does Kō collect?

Personal information means any information that can identify you. Unless required or authorised by law, Kō will not adopt, use or disclose government related identifiers. Generally, we or our agent will collect personal information, such as your name and contact details including home address and e-mail address; mandatory tax file number, ABN or exemption category; name of financial institution, BSB number, account number and account name. This information is necessary for us to provide our services to you and comply with statutory requirements. If you choose not to identify yourself or to use a pseudonym when dealing with Ko, then it may not be legal or practicable for us to provide our products or services in relation to a particular matter.

How is personal information collected and held?

This will depend on how you interact with Kō or the products and services you request from us. Personal information is typically collected directly from you on completion of an application or registration form. The form will generally be part of, or be supplemented by, a product disclosure statement, information memorandum or other marketing materials. The form and/or supporting documents will provide details on:

• how to contact us or our agent;
• the purposes for which personal information is collected;
• if any information is collected from third parties;
• the consequences if all or some of the personal information is not collected;
• details of who else may receive the information;
• how to access and correct the information collected;
• complaints procedures; and
• whether the information will be disclosed overseas and the countries of the recipients.

Personal information may also be taken if you speak with our staff in relation to a particular matter such as in making a complaint. Mostly it will be unnecessary to collect personal information from other sources, such as from a publicly maintained record. In the event that your personal information is collected from a third party, we will take reasonable steps to inform you from whom, how and why the information was collected. Kō will, in relation to the receipt of unsolicited personal information, determine within a reasonable time whether it could have collected the information through established processes. If it could not have been so collected, we will, if it is lawful and reasonable to do so, securely destroy or de-identify the information. Where it is determined that the unsolicited information could have been collected in the normal way, it will be held and used by us in accordance with the Privacy Act 1988 as amended. We will not collect sensitive information about you such as your racial or ethnic origin, political opinions, religious beliefs, sexual orientation, health and genetic information.

Why we need your personal information

Personal information is used for the main business or primary purpose for which it was collected:

• processing your application for investments;
• administering your investment

In some circumstances this information may be used by other Kō related entities. Other types of organisations to which Kō may disclose personal information include:

• any third party service provider Kō may engage to provide custody, administration, technology, auditing, mailing, printing or other services;
• government authorities when and to the extent required by law; and
• Ko’s professional advisers (including legal and accounting firms, auditors, consultants and other advisers). Such disclosure will only be done with your consent.

We may use or disclose your personal information for direct marketing if:

• you have consented to its use for this purpose; or
• you would have a reasonable expectation that your information will be used for direct marketing; and
• we provide you with the opportunity to ‘opt out’ of receiving direct marketing communications.

Kō may, in circumstances that align with its main business purpose, use or disclose your personal information outside of your State or Territory and/or outside of Australia. We will obtain your consent before this occurs. We will not use or disclose your personal information for another purpose unless you consent to its use or disclosure for that purpose.

Accessing and correcting information held about you

Kō will take all reasonable steps to ensure that the personal information we collect, use or disclose is accurate, up-to-date, complete and relevant for the purpose of its use or disclosure. You have the right to examine the personal information we collect and hold about you. If at any time you would like to access or correct your details, please contact us at:

Email: [email protected]

If you want to change your personal details held by Ko, please let us know in writing.

Complaints

Kō has in place procedures to properly consider and deal with any concern or dispute that you have with our privacy practices in the collection, storage, disclosure, integrity or security of your personal information. If you have a complaint, contact us at:

Email: [email protected]

Kō will deal with your complaint confidentially and endeavour to acknowledge receipt in writing within two business days of receiving the complaint. We will try to resolve all issues within a maximum of 30 days of receipt, but in a shorter period if possible. If it is impossible to substantially respond to your complaint within 30 calendar days, you will, before the end of that period, be:

• informed of the reasons for the delay;
• advised of your right to complain to the Australian Financial Complaints Authority (AFCA), if this option is available to you; and;
• be provided with the contact details of the AFCA, if this option is available to you.

In the event you are dissatisfied with the outcome of your complaint, you may refer the complaint to the Australian Financial Complaints Authority: https://www.afca.org.au/make-a-complaint/ If you choose not to identify yourself or to use a pseudonym when dealing with Kō in relation to a privacy complaint, then it may be impracticable for us to investigate and resolve the complaint.

Changes to this policy

Kō reserves the right to change this privacy policy at any time. We will notify any changes by posting an updated version of the policy on our website at ko.homes