Credit Reporting Agencies Act 2010 s 19

s 19 Handling of credit information when registration of credit reporting agency is revoked, etc.

(1) Any credit reporting agency which— (a) has ceased to be a credit reporting agency; or (b) has its certificate of registration revoked by the Registrar pursuant to section 16, shall, within the period as determined by the Registrar, hand over all the credit information in its databases or within its possession, in whatever form available, and the databases, including back-up files, to the Registrar. (2) Upon receipt of the credit information and databases from the credit reporting agency under subsection (1), referred to as the “first credit reporting agency”, the Registrar may decide either— (a) to destroy the credit information and databases; or (b) with the approval of the Minister, to hand over the credit information and databases to another credit reporting agency, referred to as the “subsequent credit reporting agency”, upon payment of compensation by the subsequent credit reporting agency to the first credit reporting agency of an amount to be agreed between the first credit reporting agency and the subsequent credit reporting agency. (3) In granting his approval to the handing over of the credit information and databases of the first credit reporting agency in pursuance of paragraph (2)(b), the Minister shall be satisfied that the subsequent credit reporting agency to which the credit information and databases is proposed to be handed over to has at least similar or equivalent financial abilities, expertise and facilities to that of the first credit reporting agency to assume the processing of the credit information. (4) The subsequent credit reporting agency shall, upon receipt of the credit information and databases under paragraph (2)(b)— (a) inform the customer by written notice of the fact that his credit information has been handed over to the subsequent credit reporting agency; and (b) have the same duties and obligations in relation to that customer as if it was the first credit reporting agency and shall comply with all the provisions of this Act. (5) Where the first credit reporting agency hands over any credit information and databases to a subsequent credit reporting agency in pursuance of paragraph (2)(b), any consent obtained by the first credit reporting agency from a customer under paragraph 24(1)(a) shall lapse, and the subsequent credit reporting agency shall obtain the consent of the customer under paragraph 24(1)(a) if it intends to disclose the credit information of the customer under that section. (6) A credit reporting agency which contravenes subsection (1) commits an offence and shall, upon conviction, be liable to a fine not exceeding two hundred thousand ringgit or to imprisonment for a term not exceeding two years or to both.

Malay text (authoritative)

Pengendalian maklumat kredit apabila pendaftaran agensi pelaporan kredit dibatalkan, dsb.

(1) Mana-mana agensi pelaporan kredit yang— (a) terhenti menjadi suatu agensi pelaporan kredit; atau (b) perakuan pendaftarannya dibatalkan oleh Pendaftar menurut seksyen 16, hendaklah, dalam tempoh yang ditentukan oleh Pendaftar, menyerahkan semua maklumat kredit dalam pangkalan datanya atau dalam milikannya, dalam apa jua bentuk yang ada, dan pangkalan data, termasuk fail sandar, kepada Pendaftar. (2) Apabila menerima maklumat kredit dan pangkalan data daripada agensi pelaporan kredit di bawah subseksyen (1), disebut “agensi pelaporan kredit yang pertama”, Pendaftar boleh memutuskan sama ada— (a) untuk memusnahkan maklumat kredit dan pangkalan data itu; atau (b) dengan kelulusan Menteri, untuk menyerahkan maklumat kredit dan pangkalan data itu kepada agensi pelaporan kredit yang lain, disebut “agensi pelaporan kredit yang berikutnya”, apabila pampasan dibayar oleh agensi pelaporan kredit yang berikutnya kepada agensi pelaporan kredit yang pertama bagi suatu amaun yang dipersetujui antara agensi pelaporan kredit yang pertama dengan agensi pelaporan kredit yang berikutnya. (3) Apabila memberikan kelulusannya untuk penyerahan maklumat kredit dan pangkalan data agensi pelaporan kredit yang pertama menurut perenggan (2)(b), Menteri hendaklah berpuas hati bahawa agensi pelaporan kredit yang berikutnya yang kepadanya maklumat kredit dan pangkalan data itu dicadangkan supaya diserahkan kepadanya mempunyai sekurang-kurangnya kemampuan kewangan, kemahiran dan kemudahan yang seumpama atau setara dengan kemampuan kewangan, kemahiran dan kemudahan yang ada pada agensi pelaporan kredit yang pertama untuk mengambil alih pemprosesan maklumat kredit itu. (4) Agensi pelaporan kredit yang berikutnya hendaklah, apabila menerima maklumat kredit dan pangkalan data di bawah perenggan (2)(b)— (a) memaklumkan pelanggan melalui notis bertulis hakikat bahawa maklumat kreditnya telah diserahkan kepada agensi pelaporan kredit yang berikutnya; dan (b) mempunyai kewajipan dan obligasi yang serupa berhubung dengan pelanggan itu seolah-olah ia merupakan agensi pelaporan kredit yang pertama dan hendaklah mematuhi semua peruntukan Akta ini. (5) Jika agensi pelaporan kredit yang pertama menyerahkan mana-mana maklumat kredit dan pangkalan data kepada agensi pelaporan kredit yang berikutnya menurut perenggan (2)(b), apa-apa persetujuan yang telah diperoleh oleh agensi pelaporan kredit yang pertama itu daripada pelanggan di bawah perenggan 24(1)(a) hendaklah luput, dan agensi pelaporan kredit yang berikutnya hendaklah mendapatkan persetujuan daripada pelanggan itu di bawah perenggan 24(1)(a) jika agensi pelaporan kredit yang berikutnya berniat untuk menzahirkan maklumat kredit pelanggan itu di bawah seksyen itu. (6) Sesuatu agensi pelaporan kredit yang melanggar subseksyen (1) melakukan suatu kesalahan dan boleh, apabila disabitkan, didenda tidak melebihi dua ratus ribu ringgit atau dipenjarakan selama tempoh tidak melebihi dua tahun atau kedua-duanya.

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Find Act 710 on lom.agc.gov.my ↗

Text as at 1 August 2024 (LOM reprint); amendments made after that date may not be incorporated.

Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).

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