Cap. 204 Art. 24ASupervisory authority of credit reference agencies.

(1) The Bank shall be the supervisory authority of the credit reference agencies solely for the purpose of overseeing and regulating the task of issuing credit scores, which will include granular information from the Register established under article 24:

Provided that the Bank’s supervisory powers will include both off-site and on-site inspections at the premises of the credit reference agency, and any branch, agent or office providing licensable activities under the responsibility of the credit reference agency.

(2) The Bank may issue, amend or revoke directives as it shall consider appropriate for the carrying into effect the provisions of sub-article (1).

(3) Any credit reference agency shall be subject to an annual supervisory fee as may be prescribed, which is payable upon the granting of the licence, and thereafter upon every anniversary thereof.