Credit Bureau Act 2016 · 2020 Revised Edition · Part 3 · Duties of Licensed Credit Bureaus
17. Duty to provide access to data
Feedback & supportUpon a data subject’s request, a licensed credit bureau must, within 5 business days after the request or any shorter period that the Authority may specify by written notice, provide the data subject with a copy of the credit report of the data subject.
data subject
“data subject” means the person that is the subject of any data or credit report, as the case may be;
Subject to subsection (3), the licensed credit bureau may charge the data subject a fee each time it provides the data subject with a copy of the credit report under subsection (1).
licensed credit bureau
“licensed credit bureau” means a credit bureau that is for the time being licensed;
Despite subsection (2), where —
a data subject (who is an individual) applies for a credit facility from an approved member of a licensed credit bureau; and
the individual requests, within 30 days after the approved member has approved or rejected the application for the credit facility, a credit report about the individual from the licensed credit bureau in relation to the individual’s application,the licensed credit bureau must, within 5 business days after the request in paragraph (b) or any shorter period that the Authority may specify by written notice, provide the individual with a copy of the credit report free of charge.
The licensed credit bureau must provide a copy of the credit report mentioned in subsection (1), in one of the following forms at the data subject’s option:
credit report
“credit report” means a communication, whether in written, oral or other form —(a)prepared using customer information provided by at least one bank or merchant bank that is a member of a credit bureau, to assess the creditworthiness of a person, including —(i)information about the person’s eligibility to be provided with credit;(ii)information about the person’s history in relation to credit;(iii)information about the person’s capacity to repay credit provided to the person; or(iv)any other information relating to the person’s creditworthiness; or(b)prepared by a licensed credit bureau for any other purpose that may be prescribed;
a printed copy to be collected by the data subject at the registered office of the licensed credit bureau;
a printed copy sent by registered post to an address specified by the data subject;
an electronic copy;
an electronic copy sent by electronic mail to an electronic mail address specified by the data subject.
Any person that contravenes subsection (1), (3) or (4) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $250,000 and, in the case of a continuing offence, to a further fine not exceeding $25,000 for every day or part of a day during which the offence continues after conviction.