Credit Information Companies (Regulation) Act, 2005

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Description
•    The Credit Information Companies Rules, 2006
•    The Credit Information Companies Regulation, 2006
Contents
The Credit Information Companies (Regulation) Act, 2005
Chapter I - Preliminary
1.    Short title, extent and commencement
2.    Definitions
Chapter II - Registration of Credit Information Companies
3.    Prohibition to commerce or carry on business of credit information
4.    Application for registration
5.    Grant of certificate of registration
6.    Power of Reserve Bank to cancel certificate of registration
7.    Appeal against order of Reserve Bank
8.    Requirement as to minimum capital
Chapter III - Management of Credit Information Companies
9.    Management of credit information company
10.  Power of Reserve Bank to determine policy
11.  Power of Reserve Bank to give directions
12.  Inspection of credit information company, credit institution and specified user
Chapter IV - Auditors
13.  Powers and duties of auditors
Chapter V - Functions of Credit Information Companies
14.  Functions of a credit information company
15.  Credit Institution to be member of a credit information company
16.  Failure to become a member of a credit information company
17.  Collection and furnishing of credit information
18.  Settlement of dispute
Chapter VI - Information Privacy Principles and Furnishing of Credit Information
19.  Accuracy and security of credit information
20.  Privacy principles
21.  Alteration of credit information files and credit reports
22.  Unauthorized access to credit information
Chapter VII - Offenses and Penalties
23.  Offenses and penalties
24.  Cognizance of offenses
25.  Power of Reserve Bank to impose penalty
26.  Application of fines
Chapter VIII - Miscellaneous
27.  Power of Reserve Bank to specify maximum amount of fees
28.  Disclosure of information before any court or tribunal or authority
29.  Obligations as to fidelity and secrecy
30.  Protection of action taken in good faith
31.  Bar of Jurisdiction
32.  Power of  Reserve Bank to exempt in certain cases
33.  Application of other laws not barred
34.  Amendment of certain enactment
35.  Removal of difficulties
36.  Power to make rules
37.  Power of Reserve Bank to make regulations
       The Schedule - Amendments to certain Enactment
The Credit Information Companies Rules, 2006
Chapter I - Preliminary
Rule 1 - 2
Chapter II - Appeal
Rule 3 - 17
Chapter III - Steps and Security Safeguards to be taken by Credit Institutions
                     for Ensuring Accuracy, Completeness and Protection of Data
Rule 18-23
Chapter IV - Steps and Security Safeguards to be taken by Credit Information
                     Companies and Specified Used for Ensuring Accuracy,
                     completeness and Protection of Data
Rule 24-27
Chapter V  -  Prohibition from Unauthorised Access or use or Disclosure
Rule 28
Chapter VI - Fidelity and Secrecy
Rule 29
Schedule
Form I -III
The Credit Information Companies Regulations, 2006
Chapter I - Preliminary
Reg. 1 - 2
Chapter II -  Specified Users
Reg. 3
Chapter III - Registration of Companies as Credit Information Companies
Reg. 4 - 5
Chapter IV - Business of Credit Information Companies
Reg. 6
Chapter V - Collection, Furnishing of Credit Information and Purpose thereof
Reg. 7 - 9
Chapter VI - Privacy Principles
Reg. 10 -11
Chapter VII - Maximum Amount of Fees
Reg. 12.
Form A - C
Amendment to the Credit Information Companies (Regulation) Act, 2005 (30 of 2005)
By The Factoring Regulation Act, 2011 (12 of 2012)
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