Moneylenders Act 2008 · 2020 Revised Edition · Part 3A · Collection, Use and Disclosure of Borrower Information and Data
73. Duties under this Part applicable in relation to persons with revoked or expired licences
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Where the licence of a person is revoked or has expired, the following duties continue to apply to the person in relation to moneylending transactions entered into by the person before the revocation or expiry of the licence:
licence
“licence” means a moneylender’s licence issued or renewed under this Act, and “licensee” is to be construed accordingly;
subject to subsection (2), the duties under section 67(2) to keep or cause to be kept, and to dispose of, a credit report (including any information in a credit report);
the duties under section 68(1) to submit information relating to the repayment of a loan or any instalment of the repayment of a loan, and information relating to the writing off of any debt arising from a loan;
the duties under section 69(2) and (3) concerning the use and disclosure of borrower information;
the duties under section 70(1) to ensure the integrity of borrower information and to protect any information mentioned in that section;
the duties under section 71(2) and (3) relating to the correction of borrower information;
the duty under section 72(1) to submit borrower information to the Registrar.
A person mentioned in subsection (1) must dispose of any credit report (including any information in a credit report) by such date as the Registrar may specify by written notice.
credit report
“credit report” means a report prepared by the designated credit bureau under section 74 using borrower information provided by at least one licensee for the purposes of —(a)enabling a licensee to assess the creditworthiness of a person, including —(i)information about the person’s history in relation to loans with one or more licensees;(ii)information about the person’s capacity to repay loans granted by one or more licensees to the person; and(iii)any other information relating to the person’s creditworthiness; and(b)enabling a licensee to comply with any restriction imposed under this Act as to the maximum amount that may be lent to a borrower or to a class or description of borrowers to which a borrower belongs;
For the purposes of section 69, a reference to an officer or employee of a licensee includes a reference to an officer or employee of a person whose licence has been revoked or has expired.
officer
“officer”, in relation to a licensee or the designated credit bureau, means any director, chief executive officer, manager, secretary or other similar officer of the licensee or designated credit bureau, and includes any person purporting to act in any such capacity;
Any person who without reasonable excuse contravenes subsection (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $30,000 or to imprisonment for a term not exceeding 12 months or to both.[30U