Singapore legislation
Section 63
Section 63
Other provisions concerning assumption of control
(1)
A statutory manager is treated to have assumed control of the relevant business of the designated credit bureau on the date of the statutory manager’s appointment as a statutory manager.
(2)
Without limiting section 61(4)(a), the Registrar may at any time revoke the appointment of a statutory manager in relation to the relevant business of the designated credit bureau —
if the Registrar is satisfied that the reasons for the appointment have ceased to exist;
if the confidentiality, security or integrity of any data held by the designated credit bureau is compromised;
if a subsequent designated credit bureau is designated; or
on any other ground.
(3)
The statutory manager must cease to be in control of the relevant business of the designated credit bureau upon revocation of its appointment under subsection (2) or section 61(4)(a).
(4)
The Registrar must publish in the Gazette the date, and any other particulars that the Registrar thinks fit, of —
the appointment of a statutory manager in relation to the relevant business of the designated credit bureau; and
the revocation of a statutory manager’s appointment in relation to the relevant business of the designated credit bureau.[30K