Code Of Conduct

Member’s Supply Of Received Information To The Bureau

3.1 Subject to the terms of the relevant Subscriber Agreement, each Member shall supply to the Bureau information and data relating to natural persons who are their Customers and in the data formats and frequency (including SDIS) as specified in the Subscriber Agreement or in such other form as the Bureau may reasonably require subject always to the Act, applicable law and in compliance with the Reciprocity Guidelines.

3.2 Subject to Clause 3.4, each Member shall regularly update all information and data supplied to the Bureau pursuant to the terms of the relevant Subscriber Agreement and take all necessary steps to ensure that the Received Information supplied by it (including all updates) are (subject to the terms of the relevant Subscriber Agreement) accurate, complete, correct and current.

3.3 Subject to Clause 3.4 and the terms of the relevant Subscriber Agreement, each Member shall take all necessary precautions to ensure that all information and data supplied to the Bureau (including all updates) is accurate, complete, correct and current up to the relevant update cycle date and provided always that the same is permitted to be disclosed to the Bureau and is so disclosed in accordance with the provisions of the Act so as not to breach any higher duty of confidentiality as may be expressly agreed between the Member and the relevant Customer to whom such information and data relates.

3.4 Where any Member has supplied information to the Bureau which results in a Default Record appearing in respect of a Customer or Customers, the Member may up-date the status of such information entered into the Bureau’s Default Records in respect of the relevant Customer or Customers but is not obliged to so up-date the status of such information unless:

3.4.1 the relevant information initially supplied was inaccurate as of the date that the same was initially supplied to the Bureau;

3.4.2 the relevant Customer or Customers has/have disputed the status of such information by way of a Disputed Information Notice or a Complaint, in which event the Member shall, within sixty days of receiving notification of the same, confirm the current status of such information;

3.4.3 there has been a full settlement or negotiated settlement of all outstanding amounts(s) by the relevant Customer or Customers (in which event, the Member shall up-date the information appearing in the relevant Default Record within sixty days of such settlement occurring); or

3.4.4 all Members are directed by the Bureau (acting with the written approval of The Association of Banks in Singapore) to so up-date the status of such information (including provision of amount outstanding after partial payment and/or any other charges if any) provided always that no such direction shall be given earlier than 1st April 2004 and Members shall not be obliged to comply with any such direction until six (6) months have elapsed from the date thereof.