Singapore legislation
Section 80
Section 80
Obligation to provide information to Registrar
(1)
For any of the purposes mentioned in subsection (2), and subject to subsection (5), the Registrar may, by written notice, direct the designated credit bureau to provide to the Registrar all such information relating to the designated credit bureau’s business of preparing, providing or maintaining credit reports or loan information reports under this Part within such period as the Registrar may specify in the notice.
(2)
The purposes mentioned in subsection (1) are the following:
for determining whether this Act has been complied with;
for policy research and formulation by the Registrar or any public agency.
(3)
Without limiting subsections (1) and (2), the Registrar may in the written notice require the designated credit bureau to provide —
any information relating to the operations of the designated credit bureau that are carried out for the purposes of its functions under section 57;
borrower information of any licensee that is in the possession or under the control of the designated credit bureau; and
any other information that the Registrar may require for the purposes of this Act.
(4)
Subject to subsection (5) —
a requirement imposed by the Registrar under this section has effect despite any obligation as to secrecy or other restrictions upon the disclosure of information imposed by any rule of law or contract; and
a person who complies with a requirement imposed by the Registrar under this section is not to be treated as being in breach of any restriction on the disclosure of the information imposed by any rule of law or contract.
(5)
Nothing in this section requires a person to disclose any information subject to legal privilege.
(6)
If the designated credit bureau without reasonable excuse fails to comply with a notice issued under subsection (1), the designated credit bureau 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.[30ZB