Code Of Conduct

Rectification And Updating Of Information By The Bureau

8.1 Without prejudice to the obligations of Members under Clause 3.2 and subject to Clause 3.4, the Bureau shall take all reasonable efforts to ensure that Information regarding an Individual is updated as soon as practicable. In particular, the Bureau shall as soon as practicable (and in any event within the next Business Day after the date of receipt or collection by the Bureau of any updated Information) update Information regarding an Individual:

8.1.1 when it receives Information from a Member that any overdue account previously notified to the Bureau has been repaid in whole or in part;

8.1.2 when it determines that any Information is materially incomplete or inaccurate, whether or not there has been an investigation arising from a Disputed Information Notice;

8.1.3 when so directed by a Compliance Committee; or

8.1.4 if so required under the Act or applicable law.

8.2 Without prejudice to Clause 8.1, the Bureau shall rectify Information regarding an Individual when it becomes aware that any Information regarding an Individual was inaccurate at the time when the same was received by the Bureau. In particular, the Credit Bureau shall:

8.2.1 rectify Received Information when such rectification is requested or confirmed by the Member who, or source(s) which, supplied the same; and

8.2.2 rectify Information obtained by the Bureau from any public record(s) when there is an amendment or correction made to the public record data by the party responsible for maintaining such data.

8.3 Whenever the Bureau rectifies any Information in accordance with Clause 8.1, 8.2 or otherwise (including where a Member is obliged to up-date a Default Record pursuant to Clause 3.4 and where the Bureau determines or it is determined by a Compliance Committee that the relevant information was inaccurate as of the date that the same was initially received by the Bureau), it shall as soon as practicable (and in any event within two (2) Business Days) issue a notification specifying the Information rectified (hereinafter referred to as the “Rectification Notice”) to all Members appearing on the relevant Previous Enquiry Record as having been provided with a Credit Report on the relevant Individual during the period commencing from:

8.3.1 (if the Bureau determines or it is determined by a Compliance Committee that the incompleteness or inaccuracy rectified arose from Received Information and such date is ascertained by the Bureau) the date the Information rectified was initially received by the Bureau;

8.3.2 (if the Bureau determines or it is determined by a Compliance Committee that the incompleteness or inaccuracy rectified arose from an error by the Bureau and such date is ascertained by the Bureau) the date the Information rectified was initially entered by the Bureau;

8.3.3 (in any other case) three (3) months preceding the earlier of the following:

8.3.3.1 the date on which the Bureau first became aware of the need to rectify such Information; or

8.3.3.2 the date of receipt of the relevant Disputed Information Notice (if any),
and ending on the date on which the Information was rectified. For the avoidance of doubt, (a) no Rectification Notice need be issued in cases where Information which was correct and accurate at the time that a Credit Report was provided by the Bureau became incorrect or inaccurate owing to a subsequent change of the relevant Individual's particulars or other circumstances and (b) no Rectification Notice shall identify the Members who are its recipients.

8.4 Without prejudice to Clauses 8.1 and 8.2 (but subject to issuing a Rectification Notice to all Members appearing on the relevant Previous Enquiry Record as having been provided with a Credit Report on the relevant Individual during the immediately preceding period of three (3) months), the Bureau may:

8.4.1 if so requested by the Individual concerned (and subject to such terms as the Bureau may specify, including reimbursement of the Bureau’s costs and expenses); or

8.4.2 on its own initiative,
take such steps as may be required to update or rectify Information as are, in the circumstances, reasonable to ensure that (having regard to the Relevant Purpose for which the Information is authorised to be used) the Information in respect of the relevant Individual is accurate, up to date, complete and not misleading.

8.5 Whenever the Bureau rectifies any Information in accordance with Clause 8.1, 8.2 or otherwise, the Bureau shall compile a report including therein the circumstances leading up to the rectification, the cause(s) of the inaccuracies (if the same is/are known to the Bureau), a copy of any Rectification Notice issued and all measures and actions taken arising therefrom and such report shall forthwith be entered into the Bureau’s operations log.