Credit Bureau Act 2016 · 2020 Revised Edition · Part 3 · Duties of Licensed Credit Bureaus
18. Correction of data on request
Feedback & supportA data subject may request a licensed credit bureau to correct an error or omission in any data of the data subject that is in the possession or under the control of the licensed credit bureau.
data subject
“data subject” means the person that is the subject of any data or credit report, as the case may be;
A data provider may request a licensed credit bureau to correct an error or omission in any data provided by the data provider to the licensed credit bureau.
data provider
“data provider”, in relation to a licensed credit bureau, means any person (including a member of the licensed credit bureau) that is obliged under any contract or arrangement with the licensed credit bureau, to provide to the licensed credit bureau for the purposes of the licensed credit bureau’s credit reporting business, any information relating to a person’s creditworthiness, including (to avoid doubt) customer information of a member of the licensed credit bureau;
Upon receiving a request under subsection (1) or (2), the licensed credit bureau must —
licensed credit bureau
“licensed credit bureau” means a credit bureau that is for the time being licensed;
within such period as the Authority may specify by written notice after receiving such request, conduct and complete an investigation to ascertain the integrity of the data; and
unless it is satisfied on reasonable grounds that a correction should not be made, within such period as the Authority may specify by written notice —
correct the data in its possession or under its control; and
send the corrected data to every approved member of the licensed credit bureau to which the licensed credit bureau disclosed the data within a year before the date the correction was made.
Any person that contravenes subsection (3) 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.