The Credit Information Companies (Regulation) Act, 2005.
Central Act · Act 30 of 200538 provisions
The enactment
| Long title | An Act to provide for regulation of credit information companies and to facilitate efficient distribution of credit and for matters connected therewith or incidental thereto. |
|---|---|
| Type | Act |
| Citation | Act 30 of 2005 |
| Year | 2005 |
| Jurisdiction | Central |
| Ministry | Ministry of Finance |
| Status | In force as published by the source |
| Provisions published | 38 |
| Subjects | corporate, financial |
Full text, provision by provision
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- Section 1 Short title, extent and commencement.
- Section 2 Definitions.
- Section 3 Prohibition to commence or carry on business of credit information.
- Section 4 Application for registration.
- Section 5 Grant of certificate of registration.
- Section 6 Power of Reserve Bank to cancel certificate of registration.
- Section 7 Appeal against order of Reserve Bank.
- Section 8 Requirement as to minimum capital.
- Section 9 Management of credit information company.
- Section 10 Power of Reserve Bank to determine policy.
- Section 11 Power of Reserve Bank to give directions.
- Section 12 Inspection of credit information company, credit institution and specified user.
- Section 13 Powers and duties of auditors.
- Section 14 Functions of a credit information company.
- Section 15 Credit institution to be member of a credit information company.
- Section 16 Failure to become a member of a credit information company.
- Section 17 Collection and furnishing of credit information.
- Section 18 Settlement of dispute.
- Section 19 Accuracy and security of credit information.
- Section 20 Privacy principles.
- Section 21 Alteration of credit information files and credit reports.
- Section 22 Unauthorised access to credit information.
- Section 23 Offences and penalties.
- Section 24 Cognizance of offences.
- Section 25 Power of Reserve Bank to impose penalty.
- Section 26 Application of fines.
- Section 27 Power of Reserve Bank to specify maximum amount of fees.
- Section 28 Disclosure of information before any court or tribunal or authority.
- Section 29 Obligations as to fidelity and secrecy.
- Section 30 Protection of action taken in good faith.
- Section 31 Bar of jurisdiction.
- Section 32 Power of Reserve Bank to exempt in certain cases.
- Section 33 Application of other laws not barred.
- Section 33A Powers of Reserve Bank not to apply to International Financial Services Centre.
- Section 34 Amendment of certain enactments.
- Section 35 Removal of difficulties.
- Section 36 Power to make rules.
- Section 37 Power of Reserve Bank to make regulations THE SCHEDULE.
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