Section 14B: Granting of licence to credit information bureau

14B. Granting of licence to credit information bureau (1) Any company wishing to carry on the business of a credit information bureau shall apply to the central bank for a credit information bureau licence. (2) An application under subsection (1) shall be made in such form and manner as the central bank may determine and shall be accompanied by— (a) such information or document as may be required by the central bank for the purposes of determining the application; and (b) such appropriate non-refundable processing fee as the central bank may prescribe. (3) The central bank shall, within 30 days of the receipt of an application, or the supply of any additional information or document, determine whether to grant or refuse the application and inform the applicant within 7 days of its decision. (4) Where the central bank decides to grant a licence under this section, it shall, on payment of such licence fee as may be prescribed, issue the licence on such terms and conditions as it may determine. [S. 14B inserted by s. 2 (e) of Act 18 of 2008 w.e.f. 19 July 2008.]