Moneylenders Act 2008 · 2020 Revised Edition · Part 3A · Collection, Use and Disclosure of Borrower Information and Data
57. Functions of designated credit bureau
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Subject to the provisions of this Part, the functions of the designated credit bureau are as follows:
designated credit bureau
“designated credit bureau” means the person that is for the time being designated under section 56(1) as the designated credit bureau;
to prepare and provide reports in accordance with the provisions of this Part;
to serve as a repository of data from which the Registrar or any public agency may obtain data for any purpose specified in this Act;
to maintain a record of persons to whom a licensee is prohibited from granting a loan, and to assist in giving effect to such prohibition.
In addition to the functions under subsection (1), the designated credit bureau must undertake any other function that may be prescribed by the Minister in relation to protecting the interest of licensees, borrowers or potential borrowers.
interest
“interest”, in relation to a loan, means any amount by any name called, in excess of the principal paid or payable to a moneylender in consideration of or otherwise in respect of the loan, but does not include any permitted fee, stamp duty or other fee payable under this Act or any other written law;