s 79 Obligation to notify Registrar of certain events
79.—(1) The designated credit bureau must notify the Registrar as soon as practicable after the occurrence of any of the following events:(a) an event that results in a compromise of the confidentiality or security of any data in the possession or under the control of the designated credit bureau; (b) any civil or criminal proceeding instituted against the designated credit bureau, whether in Singapore or elsewhere; (c) any event (including an irregularity in any operation of the designated credit bureau) that impedes or impairs the operations of the designated credit bureau; (d) the designated credit bureau is becoming, or is likely to become, insolvent or unable to meet any of its financial, statutory, contractual or other obligations; (e) any other event that the Minister may prescribe.[7/2018] (2) Subject to subsection (1), the designated credit bureau must notify the Registrar within 7 business days after the occurrence of any of the following events:(a) any change of any of its executive officers other than a director or the chief executive officer of the designated credit bureau; (b) any other event that the Minister may prescribe.[7/2018] [Act 38 of 2023 wef 01/03/2024] (3) If the designated credit bureau contravenes subsection (1) or (2), the designated credit bureau shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $250,000.[30ZA [7/2018]