Credit Bureau Act 2016 · 2020 Revised Edition · Part 3 · Duties of Licensed Credit Bureaus
19. Correction of data on licensed credit bureau’s initiative
Feedback & supportSubject to subsection (2), a licensed credit bureau must correct an error or omission in the data of a data subject that is in its possession or under its control if it is satisfied that there is evidence of a conflict between the data and other information relating to the data subject —
licensed credit bureau
“licensed credit bureau” means a credit bureau that is for the time being licensed;
in its possession or under its control; or
obtained from such public authority as may be prescribed.
Except under prescribed circumstances, before the licensed credit bureau corrects any data under subsection (1), the licensed credit bureau must —
data
“data” means —(a)information relating to a person’s creditworthiness, including (to avoid doubt) customer information of a member of a licensed credit bureau; or(b)information relating to a person that is processed by a licensed credit bureau in the course of its credit reporting business,as the case may be;
inform the data provider that provided the data to the licensed credit bureau of the proposed correction; and
subject to subsection (3), obtain consent from that data provider to the proposed correction.
The licensed credit bureau need not obtain the consent in subsection (2)(b) if it is satisfied that any refusal of consent is frivolous or vexatious.
Any person that contravenes subsection (1) or (2) 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.