Singapore legislation
Section 60
Section 60
Power to issue directions
(1)
For the purpose of carrying out the provisions of this Part, the Registrar may give written directions, either of a general or specific nature, to the designated credit bureau.
(2)
The Registrar may, in particular, give directions setting out —
the manner in which the designated credit bureau is to perform its duties under this Part;
the manner in which data is to be processed by the designated credit bureau, including the requirement to preserve metadata in the course of processing data; or
the requirements relating to the availability or performance of any electronic online system used by the designated credit bureau for the collection, use or disclosure of borrower information or data.
(3)
Where the designated credit bureau, without reasonable excuse, fails to comply with a direction under subsection (1), the designated credit bureau shall be guilty of an offence and shall be liable on conviction —
to a fine not exceeding $100,000; and
in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction.[30H