Clause 15

replace subsection (1) with —“(1) Where a licensee declines to grant a loan to an applicant for a loan, the licensee must, within one business day after the day that the licensee informs the designated credit bureau under section 66(7)(b) of the reason or reasons for so declining —

in the case of a credit report obtained under section 66(5)(b) in relation to the applicant — dispose of the credit report (including any information in the credit report); and

in the case of any credit report obtained in accordance with a request submitted under section 66A(4) in relation to a surety of the applicant — dispose of the credit report (including any information in the credit report).”; and

in subsection (2)(a), after “section 66(5)(b)”, insert “, and any credit report obtained in accordance with a request submitted under section 66A(4),”.