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Credit Reporting Agencies Act 2010

The Credit Reporting Agencies Act 2010 () is a Malaysian law which provides for the registration and regulation of credit reporting agencies and for related, consequential and incidental matters.

The Bill was introduced into the Parliament of Malaysia by Dato' Seri Dr. Awang Adek Hussin, Deputy Minister of Finance (Malaysia) on 18 November 2009. It was passed by the Dewan Rakyat (House of Representatives) on 20 April 2010 and the Dewan Negara (Senate) on 4 May 2010 without any amendment. The Act received Royal Assent on 2 June 2010 pursuant to Clause 4A of Article 66 of the Federal Constitution.

The Registrar Office of Credit Reporting Agencies of the Ministry of Finance (Malaysia) is responsible for the administration and enforcement of this Act.

Structure

The Credit Reporting Agencies Act 2010 consists of 9 Parts containing 77 sections and 4 schedules.

  • Part I: Preliminary
  • Part II: Appointment, Functions and Powers of Registrar
  • Part III: Registration of Credit Reporting Agencies
  • Part IV: Management of Credit Reporting Agencies
  • Part V: Conduct of Business of Credit Reporting Agencies
  • Part VI: Inspection, Complaint and Investigation
  • Part VII: Enforcement
  • Part VIII: Miscellaneous
  • Part IX: Saving and Transitional Provisions
  • First Schedule
  • Second Schedule
  • Third Schedule
  • Fourth Schedule

Subsidiary legislation

Under section 72 of the Act, the Minister has made the following subsidiary legislation:

Notes

  • The Personal Data Protection Act 2010 [Act 709] does not apply to the processing of credit information by a credit reporting agency under section 76 of the Act.
  • The provisions of the Act do not apply to the Central Credit Reference Information System (CCRIS) established under section 47 of the Central Bank of Malaysia Act 2009 [Act 701] and administered by Bank Negara Malaysia.

References

External links