Clause 16

in subsection (1), after “section 66(5)(b)”, insert “or 66A(4)”;

in subsection (3)(a), after “section 66”, insert “, 66A”;

after subsection (3), insert —“(3A) Despite subsection (3), a licensee may disclose —

any borrower information of the licensee (including any such information in a credit report) —

to an assistant of the licensee to enable the assistant to collect any debt on behalf of the licensee;

to a contractor or agent engaged by the licensee to enable the contractor or agent to maintain or support the licensee’s information system; or

to any public agency to enable any of the licensee’s officers or employees to inspect or obtain any public record relating to —

an applicant for a loan from the licensee; or (B)a borrower to whom a loan has been granted by the licensee; or

any specified borrower information of the licensee —

to any prescribed credit bureau for the purpose of obtaining any report from that prescribed credit bureau to assess the creditworthiness of any applicant for a loan or any borrower to whom a loan has been granted by the licensee; or

to any other person that may be prescribed for any purposes related to the welfare and protection of applicants for loans, borrowers and sureties.”; and

after subsection (5), insert —“(6) In this section —“information system” means computer servers and network equipment operated, maintained or used by a licensee for the purposes of the licensee’s business of moneylending, and any other electronic device that contains borrower information of the licensee;“prescribed credit bureau” means —

a credit bureau that is for the time being licensed under the Credit Bureau Act 2016; or

an organisation which provides information to a person to assess the creditworthiness of an individual in relation to one or more transactions between the person and the individual, where such information is —

provided for gain or profit; or

provided on a routine, non‑profit basis as an ancillary part of a business carried on for gain or profit,that may be prescribed as such;“specified borrower information” means one or more types or classes of borrower information that the Registrar may, by written notice to one or more licensees, specify for the purposes of this Part.”.