Credit Information Companies (Regulation) Act, 2005
Bare Act · 2005
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.
- Act number
- 30 of 2005
- Enacted
- 23 June 2005
- Contents
- 38 sections · 8 chapters
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Contents
Chapter I — Preliminary
Chapter II — Registration Of Credit Information Companies
- 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 (preview)
- Section 7 – Appeal against order of Reserve Bank (preview)
- Section 8 – Requirement as to minimum capital (preview)
Chapter III
- Section 9 – Management of credit information company (preview)
- Section 10 – Power of Reserve Bank to determine policy (preview)
- Section 11 – Power of Reserve Bank to give directions (preview)
- Section 12 – Inspection of credit information company, credit institution and specified user (preview)
Chapter IV — Auditors
Chapter V — Functions Of Credit Information Companies
- Section 14 – Functions of a credit information company (preview)
- Section 15 – Credit institution to be member of a credit information company (preview)
- Section 16 – Failure to become a member of a credit information company (preview)
- Section 17 – Collection and furnishing of credit information (preview)
- Section 18 – Settlement of dispute (preview)
Chapter VI — Information Privacy Principles And Furnishing Of Credit Information
- Section 19 – Accuracy and security of credit information (preview)
- Section 20 – Privacy principles (preview)
- Section 21 – Alteration of credit information files and credit reports (preview)
- Section 22 – Unauthorised access to credit information (preview)
Chapter VII — Offences And Penalties
- Section 23 – Offences and penalties (preview)
- Section 24 – Cognizance of offences (preview)
- Section 25 – Power of Reserve Bank to impose penalty (preview)
- Section 26 – Application of fines (preview)
Chapter VIII — Miscellaneous
- Section 27 – Power of Reserve Bank to specify maximum amount of fees (preview)
- Section 28 – Disclosure of information before any court or tribunal or authority (preview)
- Section 29 – Obligations as to fidelity and secrecy (preview)
- Section 30 – Protection of action taken in good faith (preview)
- Section 31 – Bar of jurisdiction (preview)
- Section 32 – Power of Reserve Bank to exempt in certain cases (preview)
- Section 33 – Application of other laws not barred (preview)
- Section 33A – Powers of Reserve Bank not to apply to International Financial Services Centre (preview)
- Section 34 – Amendment of certain enactments (preview)
- Section 35 – Removal of difficulties (preview)
- Section 36 – Power to make rules (preview)
- Section 37 – Power of Reserve Bank to make regulations THE SCHEDULE (preview)