Credit Reporting Act 2013

11.

Duty of credit information provider to provide information for Register

11. (1) A credit information provider shall provide to the Bank—

(a) such personal information and credit information relating to any qualifying credit application made to the credit information provider, and to the credit information subject by whom any such application was made, as is required to be provided by regulations under subsection (2), and

(b) such personal information and credit information relating to any qualifying credit agreement made by the credit information provider, and to the credit information subject with whom the qualifying credit agreement was made or any credit information subject who is a guarantor in connection with the credit agreement, as is so required.

(2) The Bank shall, with the consent of the Minister, make regulations specifying—

(a) the information that is to be provided to the Bank under subsection (1),

(b) the form in which, and when, that information is to be so provided, and

(c) requirements as to verification which are to be met or complied with in connection with that information.

(3) Regulations under subsection (2) may make different provision in relation to different classes of—

(a) qualifying credit applications,

(b) qualifying credit agreements,

(c) credit information providers, and

(d) credit information subjects.

(4) The Bank may include information provided under this section on the Register.

(5) A credit application or credit agreement is a qualifying credit application or qualifying credit agreement for the purposes of this Act if the amount of the credit applied for or agreed to be provided is at least the amount provided for by subsection (6).

(6) The amount referred to in subsection (5) is—

(a) such amount as is for the time being specified by order under subsection (7), or

(b) where no amount is for the time being so specified, €500.

(7) The Minister may, from time to time, review the amount for the time being provided for by subsection (6) and may, following consultation with the Bank and having regard to changes in the consumer price index, the implications for the effective and efficient operation of the Register and the effect on credit information providers and credit information subjects, by order specify a different amount instead of that amount.

(8) The Minister may revoke an order under subsection (7) without specifying another amount (in which case the amount specified in paragraph (b) of subsection (6) is the amount provided for by that subsection).

Annotations:

Editorial Notes:

E4

Power pursuant to section exercised (30.06.2017) by Credit Reporting Act 2013 (Section 11) (Provision of Information for Central Credit Register) Regulations 2016 (S.I. No. 486 of 2016), in effect as per reg. 1(2).