Credit Reporting Act 2013


Levy on credit information providers

25. (1) The Bank may, with the consent of the Minister, make regulations prescribing a levy to be paid by credit information providers for the purpose of meeting expenses properly incurred by the Bank in the performance of its functions under this Act (and not otherwise met).

(2) Regulations under subsection (1) may in particular provide for—

(a) the amount, or methods of calculating the amount, of the levy;

(b) the period for which, and the dates by which, the levy is to be paid;

(c) penalties payable by a credit information provider who does not pay the levy on time;

(d) the keeping of records, and the making of returns to the Bank, in relation to the levy by credit information providers;

(e) the payment, collection and recovery of the levy;

(f) refunds of the levy.

(3) Regulations under subsection (1) may make different provision in relation to different classes of credit information providers.

(4) The Bank may enter into arrangements with any person in relation to the collection of the levy; and the amount of any levy payable is recoverable as a simple contract debt by proceedings in a court of competent jurisdiction by the Bank or any person with whom the Bank has entered into such arrangements.

(5) In this section “levy” does not include a fee.