Responsibilities of directors, officers, etc., of licensed credit bureau
57.—(1)  During the period when the Authority or statutory manager is in control of a licensed credit bureau’s relevant business —
(a)the General Division of the High Court may, on an application of the Authority or statutory manager, direct any former or current relevant person of the licensed credit bureau to pay, deliver, convey, surrender or transfer to the Authority or statutory manager, within such period as the General Division of the High Court may specify, any property or book of the licensed credit bureau that —
(i)forms part of or relates to the business of the licensed credit bureau; and
(ii)is in the person’s possession or control; and
(b)any former or current relevant person of the licensed credit bureau must provide the Authority or statutory manager such information as the Authority or statutory manager may require to —
(i)discharge its duties or functions; or
(ii)exercise its powers,
in relation to the licensed credit bureau, within such time and in such manner as the Authority or statutory manager may specify.
[40/2019]
(2)  Any person who —
(a)without reasonable excuse, fails to comply with subsection (1)(b); or
(b)in purported compliance with subsection (1)(b), knowingly or recklessly provides any information or document that is false or misleading in a material particular,
shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $125,000 or to imprisonment for a term not exceeding 3 years or to both and, in the case of a continuing offence (if applicable), to a further fine not exceeding $12,500 for every day or part of a day during which the offence continues after conviction.
(3)  In this section, “relevant person”, in relation to a licensed credit bureau, means a chief executive officer, director, executive officer, employee, agent, banker, auditor or office‑holder of, or trustee for, the licensed credit bureau.