Credit Bureau Act 2016
Table of Contents
Long Title
Part 1 PRELIMINARY
1 Short title
2 Interpretation
3 Purpose of Act
4 Application of Act
5 Appointment of assistants
Part 2 LICENSING OF CREDIT BUREAUS
6 Licensing of credit bureaus
7 Application for licence
8 Renewal of licence
9 Holding out as licensed credit bureau
10 Annual fees of licensed credit bureau
11 Lapsing, revocation and suspension of licence
12 Right of appeal
Part 3 DUTIES OF LICENSED CREDIT BUREAUS
13 Duties relating to customer information
14 Duty to maintain security and integrity of data
15 Duty to safeguard integrity of data through contracts with data providers
16 Disclosure of credit report to data subject or with data subject’s written consent
17 Duty to provide access to data
18 Correction of data on request
19 Correction of data on licensed credit bureau’s initiative
20 Obligation to notify Authority of certain events
21 Obligation to provide information to Authority
22 Obligation to submit periodic reports
Part 4 AUDIT OF LICENSED CREDIT BUREAUS
23 Auditing
24 Powers of auditor appointed by Authority
25 Restriction on auditor’s and employee’s right to communicate certain matters
26 Offence to destroy, conceal, alter, etc., records
Part 5 APPROVAL OF APPROVED MEMBERS
27 Rights of approved member
28 Holding out as approved member
29 Deemed approval and actual approval
30 Cancellation of approval or deemed approval
31 Revocation of approval or deemed approval
32 Right of appeal in respect of refusal of approval or revocation of approved members
Part 6 DUTIES OF APPROVED MEMBERS OF LICENSED CREDIT BUREAUS
33 Duty to maintain confidentiality of customer information
34 Duty to maintain security and integrity of data
35 Duty to correct data
36 Duty to submit data to licensed credit bureau
37 Duty to provide information to Authority
38 Duty to provide information in credit facility document
Part 7 CONTROL OF SUBSTANTIAL SHAREHOLDERS, CONTROLLERS AND OFFICERS OF LICENSED CREDIT BUREAUS
39 Application and interpretation of sections 40 to 45
40 Control of shareholding in licensed credit bureau
41 Objection to existing control of licensed credit bureau
42 Power to make directions
43 Power of Authority to obtain information
44 Power to exempt
45 Offences, penalties and defences
46 Approval and removal of chief executive officer and directors of licensed credit bureau
47 Appeals
Part 8 INSPECTIONS AND INVESTIGATIONS
48 Inspection by Authority
49 Investigation by Authority
50 Confidentiality of inspection and investigation reports
51 Self‑incrimination
52 Saving for advocates and solicitors
Part 9 AUTHORITY’S CONTROL OVER LICENSED CREDIT BUREAUS
53 Interpretation of this Part
54 Action by Authority if licensed credit bureau is unable to meet obligations, etc.
55 Assumption of control
56 Other provisions concerning control
57 Responsibilities of directors, officers, etc., of licensed credit bureau
58 Remuneration and expenses of Authority and others in certain cases
59 Matters requiring approval of Authority
Part 10 OFFENCES
60 Offences by corporations
61 Offences by unincorporated associations or partnerships
62 Offences by officers
63 Falsification of records by officers, etc.
64 Duty to use reasonable care not to provide false information to Authority
65 General penalty
66 Composition of offences
Part 11 APPEALS
67 Appeals to Minister
68 Appeal Advisory Committee
69 Disclosure of information
70 Regulations for purposes of this Part
Part 12 MISCELLANEOUS
71 Jurisdiction of District Court
72 Opportunity to be heard
73 Power of court to make certain orders
74 General exemption
75 Power of Authority to issue written notice
76 Codes, guidelines, etc., by Authority
77 Regulations
78 Service of documents
79 Electronic service
80 Amendment of Schedules
81 Saving and transitional provisions