s 74 Production of credit reports and charging of fees, etc.
74.—(1) Subject to subsections (3) and (4), upon receiving a request by a licensee for a credit report in relation to an applicant for a loan under section 66(5)(a) or a surety of an applicant for a loan under section 66A(4), the designated credit bureau must prepare and deliver to the licensee a credit report —(a) containing such information in relation to that person as the Minister may prescribe, having regard to the purposes of a credit report; and (b) within the prescribed time and in the prescribed manner.[7/2018] [Act 38 of 2023 wef 01/03/2024] (1A) For the purposes of subsection (1)(a), different types of information may be prescribed in respect of different classes or descriptions of persons who are the subject of a credit report, or different classes or descriptions of licensees.[Act 38 of 2023 wef 01/03/2024] (2) The designated credit bureau may, each time it delivers a credit report to a licensee under subsection (1), charge a fee not exceeding an amount that is approved by the Registrar.[7/2018] (3) Despite subsections (1)(a) and (2), the designated credit bureau may, by agreement with a licensee making a request under section 66(5)(a) or 66A(4) for a credit report —(a) deliver at the prescribed time and in the prescribed manner to that licensee a credit report containing information in addition to that prescribed under subsection (1)(a); and (b) charge that licensee, for the additional information, a fee not exceeding an amount that is approved by the Registrar, in addition to the fee mentioned in subsection (2).[7/2018] [Act 38 of 2023 wef 01/03/2024] [Act 38 of 2023 wef 01/03/2024] (4) The designated credit bureau must not deliver any credit report to a licensee under subsection (1) or (3) if it is not satisfied that —(a) the licensee has —(i) in the case of a request by a licensee under section 66(5)(a) — submitted the declaration mentioned in section 66(6)(a) and any other document or information prescribed under section 66(6)(b); or (ii) in the case of a request by the licensee under section 66A(4) — submitted the declaration mentioned in section 66A(5)(b)(i) and any other document or information prescribed under section 66A(5)(b)(ii); or[Act 38 of 2023 wef 01/03/2024] (b) the licensee has a valid licence issued under section 5.[7/2018] (5) If the designated credit bureau without reasonable excuse contravenes subsection (1) or (4), the designated credit bureau shall be guilty of an offence and shall be liable on conviction —(a) to a fine not exceeding $250,000; and (b) in the case of a continuing offence, to a further fine not exceeding $25,000 for every day or part of a day during which the offence continues after conviction.[30V [7/2018]