Moneylenders Act 2008 · 2020 Revised Edition · Part 3A · Collection, Use and Disclosure of Borrower Information and Data
79. Obligation to notify Registrar of certain events
Feedback & supportLast amended by an amending law of 2023. 2 amendments in all.
The designated credit bureau must notify the Registrar as soon as practicable after the occurrence of any of the following events:
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;
an event that results in a compromise of the confidentiality or security of any data in the possession or under the control of the designated credit bureau;
any civil or criminal proceeding instituted against the designated credit bureau, whether in Singapore or elsewhere;
any event (including an irregularity in any operation of the designated credit bureau) that impedes or impairs the operations of the designated credit bureau;
the designated credit bureau is becoming, or is likely to become, insolvent or unable to meet any of its financial, statutory, contractual or other obligations;
any other event that the Minister may prescribe.
Subject to subsection (1), the designated credit bureau must notify the Registrar within 7 business days after the occurrence of any of the following events:
Registrar
“Registrar” means the Registrar of Moneylenders appointed under section 4 and includes a Deputy Registrar of Moneylenders and an Assistant Registrar of Moneylenders appointed under that section;
any change of any of its executive officers other than a director or the chief executive officer of the designated credit bureau;
any other event that the Minister may prescribe.
If the designated credit bureau contravenes subsection (1) or (2), the designated credit bureau shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $250,000.[30ZA