Section 2

an inspection, means the credit reporting agency who uses the data system which is the subject of the inspection;

a complaint, means the credit reporting agency specified in the complaint;

an investigation—

in the case of an investigation initiated by a complaint, means the credit reporting agency specified in the complaint;

an enforcement notice, means the credit reporting agency on whom the enforcement notice is served;

“credit rating agency” means a person who is specified to be a registered person in Part 2 of Schedule 4 to the Capital Markets and Services Act 2007 [Act 671] and who provides investment advice in relation to the provision of ratings for debentures;

“this Act” includes regulations, orders, notifications or other subsidiary legislation made under this Act;

“Register” means the Register of Credit Reporting Agencies established and maintained under section 9;

“specified”, where no mode is mentioned, means specified from time to time in writing;

“prescribed” means prescribed by the Minister under this Act and, where no mode is mentioned, means prescribed by order published in the Gazette;

“document” has the meaning assigned to it in section 3 of the Evidence Act 1950 [Act 56];

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“constituent documents”, in relation to a body, corporate or unincorporate, means the statute, charter, memorandum of association, articles of association, rules, by-laws, partnership agreement, or other instrument, under or by which the body is incorporated or established, and its governing and administrative structure and the scope of its functions, business, powers and duties as set out, whether contained in one or more documents;

“chief executive”, in relation to a credit reporting agency, means the principal executive officer of the credit reporting agency for the time being, by whatever name called, and whether or not he is a director;

“credit” means—

any Islamic financing facility in whatever form or by whatever name called whether or not such facility involves a sale, purchase, sale and repurchase, lease, sale and lease back, sale and buy back arrangement, joint venture arrangement, deferred payment sale, return sharing arrangement and any other financing arrangements or dealings involving assets or properties made in accordance with Islamic law;

any advance, loan, trade credit or other facility in whatever form or by whatever name called whereby the person to whom the advance, loan, trade credit or other facility is given has access, directly or indirectly, to the funds or property of the person giving it;

any hire-purchase, Islamic hire-purchase, leasing, factoring, debt trading and such similar dealings or transactions;

the giving of a guarantee or any security in relation to the obligations of any person; or

any other like dealing or transaction as may be prescribed by the Minister on the recommendation of the Registrar;

“credit report” means any record or information, whether in a written, oral or other form, that—

has any bearing on a customer’s—

eligibility to be provided with credit;

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is used, has been used or is capable of being used as one of the factors in establishing a customer’s eligibility for credit;

“access log” means a record of every access made to credit information held by a credit reporting agency;

“credit information” means any information of a customer collected by a credit provider in the course of or in connection with the providing of credit, or any record or information of a customer processed in the course of or in connection with the carrying on of a credit reporting business, and may include information as listed in the First Schedule;

“use”, in relation to credit information, does not include the act of collecting or disclosing such credit information;

“collect”, in relation to credit information, means an act by which such credit information enters into or comes under the control of a credit reporting agency;

“Minister” means the Minister responsible for finance;

“disclose”, in relation to credit information, means an act by which credit information is made available by a credit reporting agency;

“person” includes an individual, any corporation, society, trade union, co-operative society, partnership or any other body, organization, association or group of persons, whether corporate or unincorporate;

“relevant person”, in relation to a customer, howsoever described, means—

in the case of a customer who is incapable of managing his own affairs, a person who is appointed by a court to manage those affairs, or a person authorized in writing by the customer to act on behalf of the customer; or

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in any other case, a person authorized in writing by the customer to make an access request, correction request, or both such requests, on behalf of the customer;

“subscriber” means any person who has entered into a subscriber agreement with a credit reporting agency;

“officer”, in relation to a credit reporting agency, includes the chief executive and any employee;

“authorized officer” means any officer authorized in writing by the Registrar under section 41;

“customer” means any person who is applying for credit from, or who has been granted credit by, a credit provider and who is the subject of the credit information;

“credit provider” means any person as listed in the Second

Schedule;

“correction”, in relation to credit information, includes amendment, variation, modification or deletion;

“requestor”, in relation to an access request or correction request, means the customer or the relevant person on behalf of the customer, who has made the request;

“credit information processor”, in relation to credit information, means any person, other than an employee of the credit reporting agency, who processes the credit information solely on behalf of the credit reporting agency, and does not process the credit information for any of his own purposes;

“processing”, in relation to credit information, means collecting, recording, holding or storing the credit information or carrying out any operation or set of operations on the credit information, including—

the organization, adaptation or alteration of credit information;

the retrieval, consultation or use of credit information;

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the disclosure of credit information by transmission, transfer, dissemination or otherwise making available;

or

the alignment, combination, correction, erasure or destruction of credit information;

“Registrar” means the Registrar of Credit Reporting Agencies appointed under section 3;

“subscriber agreement” means a written agreement providing a subscriber with access to credit information held by a credit reporting agency and is as specified in the Fourth Schedule;

“credit reporting business” means a business that involves the processing of credit information for the purpose of providing a credit report to another person, whether for profit, reward or otherwise, but shall not include the processing of credit information—

for the purpose of discharging regulatory functions or that is required or authorized by or under any law; or

by a credit rating agency;

“Summary of Rights” means the Summary of Rights as may be determined by the Registrar;

“company” has the meaning assigned to it in section 4 of the *Companies Act 1965 [Act 125];

“appointed date” means the relevant date or dates, as the case may be, on which this Act comes into operation;

“unfavourable credit action” means a denial or revocation of credit, an unfavourable change in the terms of an existing credit arrangement, or a refusal to grant credit in substantially the amount or on substantially the terms as requested.

*NOTE—The Companies Act 1965 [Act 125] has since been repealed by the

Companies Act 2016 [Act 777] which comes into operation on 31 January 2017 – see subsection 620(1) of Act 777.

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