Financial Institutions (Credit Reference Bureau) Regulations

This section states a single governing proposition and does not enumerate separate elements.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

This section states a single governing proposition and does not enumerate separate elements.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

This section states a single governing proposition and does not enumerate separate elements.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

This section states a single governing proposition and does not enumerate separate elements.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. without a licence (1) A person shall not operate credit reference bureau business in Uganda without a licence issued in accordance with these Regulations. (2) A person who contravenes the provisions of this regulation commits an offence and is liable, on conviction, to a fine not exceeding two hundred and fifty currency points or to imprisonment for a term not exceeding two years, or both.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A person who intends to operate credit reference bureau business shall apply to the central bank in the form specified in Schedule 2 to these Regulations.
2. (2) The application referred to in subregulation (1) shall be accompanied by- (a) a description of the premises and the security measures adopted or to be adopted when the person commences operations; (b) information sheet in respect of each of the substantial shareholders if corporate, subsidiaries or affiliates, as the case may be, in the form specified in Schedule 3 to these Regulations;
3. (c) sworn declaration of each of the current and proposed directors, managers and substantial shareholders if natural persons, in the form specified in Schedule 4 to these Regulations;
4. (d) Any information necessary to assess whether the proposed managers, directors and substantial shareholders are fit and proper persons in accordance with the criteria specified in Schedule 5 to these Regulations;
5. (e) information necessary for assessing the trustworthiness of the applicant including a credit report;
6. (f) information necessary for assessing the expertise and qualifications of the current and proposed senior managers of the credit reference bureau;
7. (g) management processes, including-
8. (i) characteristics of products and services to be provided to users;

12 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. An applicant shall pay to the central bank an application processing fee specified in Schedule 6 to these Regulations.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. The central bank shall, in addition to other requirements in these Regulations, take into account the following factors when evaluating an application for a licence to operate a credit reference bureau in Uganda- (a) the background, reputation, integrity, experience and capacity of the proposed owners, directors and board members of the applicant company as evidenced by the curriculum vitae and professional record of the proposed persons; (b) the business plan of the applicant, including plans to undertake national coverage, roll-out plan and a mechanism to integrate, gather, input, update and validate data; and (c) the design of data collection for negative and positive information and flexibility in structuring the information in accordance with these Regulations and other applicable laws.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (2) The minimum capital funds of a credit reference bureau referred to in subregulation (1) unimpaired by losses, shall, at all times, not be less than ten thousand currency points.
2. (3) The central bank may vary the minimum capital requirements specified in subregulation (1) and (2).

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (a) suitability of premises for the operations of credit reference bureau business; (b) separation of the proposed credit reference bureau business from other businesses performed by the applicant; and (c) the adequacy of the administrative and operational processes and the internal control systems.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The central bank may, upon evaluating an application, grant a licence, with or without conditions.
2. (2) Where a licence is granted with conditions, the central bank shall attach to the licence the specific conditions and may add, vary, revoke or substitute such conditions as the central bank may consider appropriate and the licensee shall comply with those conditions.
3. (3) The central bank shall before adding, varying, revoking or substituting conditions attached to a licence- (a) notify the licensee of its intention to take such action; (b) give the licensee an opportunity to submit in writing within fourteen working days, reasons as to why its licence should not be varied, revoked or substituted; (c) upon considering the submissions of the licensee, the central bank shall make its decision and notify the applicant of the decision and reasons for that decision in writing within fourteen working days; and
4. (d) a decision of the central bank taken in accordance with this regulation shall be binding on the licensee.
5. (4) Any licensee who fails to comply with any of the conditions of a licence shall have the licence suspended and where no steps are taken by the licensee to comply with the conditions set within ninety days suspension of the license, the central bank shall revoke the licence.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A licensee shall pay an annual license fee specified in Schedule 6 to these Regulations on or before the 31st day of January of each year.
2. (2) The central bank shall revoke the licence where a licensee fails to pay the licence fee specified in subregulation (1).

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The central bank may refuse to grant a licence to an applicant and the central bank shall give reasons for the refusal.
2. (2) The central bank shall communicate the reasons for refusal to grant a licence to the applicant in a letter of refusal, within six months.
3. (3) The period referred to in subregulation (2) shall be reckoned from- (a) the date of receipt of the application; or (b) where additional information is required, the date of submission by the applicant of the information, whichever is later.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. these Regulations shall be valid unless revoked

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A licence granted by the central bank under these Regulations shall not be transferable or assignable and any purported transfer or assignment shall be null and void.
2. (2) A person shall not sell, assign or transfer in any way more than five percent or more of the shares of a credit reference bureau licensed under these Regulations,without the prior approval of the central bank.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau may, with the approval of the central bank, appoint an agent on non-exclusive basis to provide the following services- (a) delivery of credit reports to requesting persons as may be authorised under these Regulations; (b) public sensitisation of customers, institutions and other credit information providers; (c) receiving and channelling complaints to the credit reference bureau; and (d) other services as may be approved by the central bank upon application by a credit reference bureau.
2. (2) An application for approval to appoint agents shall be accompanied with a draft agency agreement to be signed by the credit reference bureau and its appointed agents.
3. (3) A credit reference bureau shall carry out a suitability assessment on the capability of an agent and shall satisfy itself as to the- (a) existence of adequate infrastructure for delivery of credit reports to requesting persons; (b) ability of the agent to keep, maintain and secure confidentiality of customer information;
4. (c) ability to conduct proper and sufficient due diligence and identity authentication on any person or entity requesting for credit information; and (d) compliance by the agent with the requirements under the Data Protection and Privacy Act, 2019 and the regulations made under that Act.
5. (4) For purposes of this regulation, "agent" means an entity or person contracted by a credit reference bureau to provide the services referred to in subregulation (1) on behalf of the credit reference bureau, in such a manner and complying with such criteria as may be prescribed by the central bank.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Notwithstanding regulation 14, a licence shall automatically expire if the licensee has not commenced credit reference bureau business during the first twelve months immediately after the date of issue of the licence.
2. (2) The central bank may by notice in writing, revoke a licence issued under these Regulations if- (a) the central bank is satisfied that the licensee- (i) has ceased to transact credit reference bureau business in Uganda; (ii) has furnished information or a document to the central bank, in connection with its application for a licence which is false or misleading in material particular; (iii) has been found by the central bank to be insolvent or unable to pay its liabilities as they mature; (iv) has gone into liquidation; (v) has been wound up;
3. (vi) has been dissolved; (vii) is in the opinion of the central bank, carrying on its business in a manner which violates the conditions of the licence; (viii) is unable or has failed to protect the confidentiality or to secure the integrity of data or information the licensee collects; (ix) has contravened these Regulations; (x) has, without the consent of the central bank, amalgamated with another entity or sold or otherwise transferred its assets and liabilities to another entity; (xi) has failed to comply with any direction or order or guidance or circular or directive given by the central bank, with respect to the operations or conduct of the licensee; (xii) has been engaged in using, sharing or distributing the information collected as authorised under these Regulations, for a purpose for which is not permitted by these Regulations; and (b) if the central bank considers that it is in public interest to revoke the licence.
4. (3) The central bank shall, as far as it is reasonably practicable, before revoking any licence under subregulation (2), serve a notice in writing on the licensee to show cause why the licence should not be revoked and specifying a date, not less than thirty calendar days after the date of the notice, upon which the revocation will take effect.
5. (4) A person served with a notice under subregulation (3) may, upon receipt of the notice, make written representations to the central bank to justify why the licence should not be revoked.
6. (5) The central bank shall consider the representation and take a decision.
7. (6) The central bank shall, upon revoking a licence of a credit reference bureau under subregulation (2), immediately inform the credit reference bureau in writing of the revocation, giving the reasons for the revocation.
8. (7) The central bank shall, upon revocation of the licence of a credit reference bureau, take over control of the business of the licensee and wind up the affairs of a credit reference bureau in accordance with the applicable laws and procedures for winding up companies in Uganda.

2 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Every licensee shall, within thirty days after being granted a licence, submit to the central bank a confirmed irrevocable bank guarantee of five thousand currency points from a financial institution licensed by the central bank and in a format acceptable to the central bank.
2. (2) A licensee shall maintain, throughout the duration of the license, the valid bank guarantee referred to in subregulation (1).
3. (3) Where a licensee is required to pay a penalty under these Regulations and fails to do so within such time as may be prescribed by the central bank, the central bank may recover the amounts due on the penalty from the bank guarantee issued under subregulation (1).
4. (4) Where a penalty has been recovered from the bank guarantee in accordance with subregulation (3), the licensee shall within thirty calendar days after being notified, restore the diminished irrevocable bank guarantee in favour of the central bank to its original amount and format acceptable to the central bank.
5. (5) Where a credit reference bureau contravenes subregulation (1) or (4), the central bank shall suspend the license of credit reference bureau for a period of thirty days and thereafter the central bank shall revoke the licence if the contravention continues.
6. (6) The central bank may revise the amount of the irrevocable bank guarantee required under subregulation (1).

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau shall collect from financial institutions, microfinance deposit-taking institutions, registered societies and accredited credit providers, negative or adverse information on the background and credit history relating to the nonperforming obligations of the customers of such financial institutions, microfinance deposit-taking institutions, registered societies and accredited credit providers.
2. (2) A credit reference bureau shall, with the authorisation of the data subject or customer of a financial institution, microfinance deposit-taking institution, registered society and accredited credit provider, compile positive information regarding economic, financial and commercial obligations of such customer or data subject in order to determine their overall debt exposure and capacity to repay.
3. (3) A credit reference bureau shall ensure contractually that the data provider, at the time of submitting the information referred to in subregulation (1) and (2), confirms that the data provider has obtained the following-
4. (a) credit information of the customer or data subject; and
5. (b) a duly executed waiver of consent for disclosure of information to other financial institutions, microfinance deposit-taking institutions, registered societies and accredited credit providers for positive information.
6. (4) The data provider shall confirm to the credit reference bureau that the information submitted is supported with the corresponding waiver of consent.
7. (5) The data provider shall ensure that the information submitted to the credit reference bureau is accurate.
8. (6) A credit reference bureau shall not include any of the following in a credit report- (a) any information where the name and address of the source of the information is not recorded or retained in the files of the credit reference bureau or is not readily ascertainable by the customer or data subject; (b) any information not based on the most reliable evidence reasonably available; (c) information regarding any criminal charges against the customer or data subject unless the charges relate to a debt obligation or financial impropriety and have resulted into a conviction; (d) information as to any judgment against the customer or data subject unless mention is made of the name and, if available, the address of the judgment creditor or agent of the creditor as given at the date of entry of the judgment and the amount of the judgment;

1 further item remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) All financial institutions, microfinance deposit-taking institutions and registered societies shall, without any requirement for consent from the customer, submit to a credit reference bureau the following information- (a) all the details of non-performing loans and other accredited credit facilities classified as doubtful, substandard or loss, subject to the following conditions- (i) a formal demand has been served on the customer and the customer having failed to provide a satisfactory repayment proposal; (ii) the amount owed is not be in dispute; and (iii) the customer is notified at least twenty eight days in advance, of the intention to submit the information to credit reference bureaus. (b) Information on customers involved in financial malpractices including bouncing of cheques due to lack of funds and fraud.
2. (2) The notification referred to in subregulation (1)(a)(iii) above shall be considered to have been given if it is sent to the last known address or contact details of the data subject by registered mail, email, short message service through the registered telephone number of the customer or physical delivery of the letter evidenced by acknowledgement of receipt by the customer or his or nominee and the data provider shall retain the evidence of notification served under this regulation for at least five years.
3. (3) A financial institution, microfinance deposit-taking institution or registered society which fails or neglects to submit to credit reference bureau information that is required to be submitted under this regulation shall pay to the central bank a civil penalty of two hundred currency points, and, in the case of a continuing violation, an additional civil penalty not exceeding fifty currency points for each calendar day on which the violation continues.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. provider may, with the express written consent of the customer, disclose to a credit reference bureau positive information about the credit history of a customer, economic, financial and commercial obligations of the customer in order to determine their overall debt exposure and capacity to repay

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Where consent or authorisation of a customer is required under these Regulations for submission or sharing of credit information, such consent or authorisation shall be obtained by the customer appending his or her signature to any document giving express consent or authorisation for the submission or sharing of credit information.
2. (2) The documents referred to in subregulation (1) may include, account opening documents, loan application forms, loan agreements or any other agreement between a financial institution, microfinance deposit-taking institution or registered society and a customer or an agreement between a customer and an accredited credit provider or by any other documentary means as may be agreed by the parties.
3. (3) The documents referred to in subregulation (1) and (2) shall at a minimum- (a) inform the customer that his or her credit information shall be disclosed to a credit reference bureau for dissemination to the users of the credit information; (b) inform the customer of his or her rights to-
4. (i) refuse to give the consent and the consequences of such refusal;
5. (ii) request for rectification of the credit information in case of any inaccuracies;
6. (iii) receive notification of the results of a credit information check before an adverse action or decision is taken by a person basing wholly or partly on the result of the credit information check; and
7. (iv) seek for and obtain independent legal advice in relation to the consent given and to take legal action against any person who violates his or her rights to privacy.
8. (4) For purposes of subregulation (1), "signature" means any symbol executed or adapted or any methodology or procedure employed or adapted by the customer with the intention of authenticating a document, including an electronic or digital method.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau may with the approval of the central bank, disseminate public information relating to a customer or information from public sources and public entities such as, the Uganda Registration Services Bureau, business and trade licensing authorities, the land registry, collateral registries, the Uganda Revenue Authority, local governments, court registries and other public entities, provided that, before including such information in any credit report or using the information to generate a credit score, a credit reference bureau shall-
2. (a) follow reasonable procedures to confirm the accuracy and authenticity of the information from a source that has independent and direct knowledge of the information;
3. (b) where such information relates to any court proceeding of a civil or criminal nature or any public record, verify the accuracy of the information not more than one month before the date on which the information is included in any report; and
4. (c) ensure that use of the information does not in any way violate the rights and liberties of the data subject.
5. (2) For purposes of subregulation (1), a credit reference bureau may enter into memoranda of understanding with public entities for the provision of information and such memoranda shall specify- (a) the conditions for the provision of information; (b) the obligation to furnish accurate and updated information; (c) the obligation to promptly correct any information submitted to the credit reference bureau which is inaccurate, false, misleading or erroneous in any form or has been overtaken by events; (d) details on data to be provided; and (e) the manner and form through which the information shall be submitted to the credit reference bureau.
6. (3) Every credit reference bureau shall periodically report to the central bank the source and details of the public data included in the reports of the credit reference bureau together with the process of verification carried out to authenticate the veracity of such data.
7. (4) Where a credit reference bureau has included in any report, public domain data, and the central bank is satisfied that a credit reference bureau did not take all reasonable measures to verify the veracity and accuracy of the data, the central bank shall impose a civil penalty of two hundred and fifty currency points on the credit reference bureau.
8. (5) For the purposes of this regulation, "public information" means any information that has been disclosed, disseminated or made available to the public.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau shall retain all data for ten years from the time the credit reference bureau received or created the data except that where such data relates to a debt obligation, the credit reference bureau shall retain the data for ten years after the debt is fully paid off or has been extinguished by any other procedure such as being written-off.
2. (2) Notwithstanding subregulation (1), a credit reference bureau shall not include in a credit report any of the following- (a) information regarding the repayment of any debt five years after the obligation has been fully paid or has been extinguished by any other procedure except writing-off; (b) information on inquiries made on the record of a customer two years after the inquiry has been made; (c) information on disputes lodged by customers such as the number and nature of complaints lodged and whether complaint was rejected except those complaints that were upheld eighteen months after the dispute has been lodged; (d) information on bankruptcy of a customer five years after the date of discharge unless the customer has been bankrupt more than once;
3. (e) information as to any judgment against a customer five years after the judgment was given unless the judgment creditor, or his or her agent, confirms that the judgment debt remains unpaid and the confirmation appears in the file;
4. (f) information on non-performing credit facilities after the last payment was made or if no payment was made five years after the debt was incurred; and
5. (g) information on fines and unpaid taxes seven years after the fine was imposed or the tax was assessed.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau shall through a formal request provide credit information services to financial institutions, microfinance deposit-taking institutions, registered societies and accredited credit providers.
2. (2) In the case of accredited credit providers the information to be provided to accredited credit providers shall be in such form and with such content as may be approved by the central bank.
3. (3) In addition to credit information services in subregulation (1), a credit reference bureau may provide value-added services to financial institutions, microfinance deposit-taking institutions, registered societies and accredited credit providers subject to approval by the central bank.
4. (4) For the purposes of subregulation (3), "value added services" means services beyond the ordinary credit reference bureau business that are intended to provide synergy and complement credit reports in order to enhance user benefits.
5. (5) A credit reference bureau shall exchange credit information with other licensed credit reference bureaus in a manner prescribed by the central bank.
6. (6) A person receiving credit information from a credit reference bureau shall ensure protection, security, confidentiality, retention and destruction of such information as specified in the Data Protection and Privacy Act, 2019.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. The minimum standards for credit reports shall be as specified in Schedule 9 to these regulations

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. The central bank shall regulate and supervise all credit reference bureaus licensed under these Regulations and may issue directives or guidance on any matter relating to the conduct of credit reference bureau business

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The central bank shall cause an inspection to be made, by an officer of the central bank or other person appointed by the central bank, of any credit reference bureau, the premises, the operational and financial records, books of accounts, information technology systems and all such other records as the central bank may require for supervision and regulation of the credit reference bureau, and the central bank shall provide to that credit reference bureau a copy of the report on such inspection. (2) A credit reference bureau shall furnish to the officer or other person making an inspection under subregulation (1), all operational records, books of account, financial records and other documents in the custody or power of the credit reference bureau and such statements or information relating to the affairs of the credit reference bureau as the officer may require within such reasonable time as the officer may specify.
2. (3) A credit reference bureau which, without reasonable cause, fails to comply with subregulation (2) shall pay to the central bank a civil penalty of two hundred and fifty currency points, and, in the case of a continuing violation, an additional civil penalty not exceeding fifty currency points for each calendar day on which the violation continues.
3. (4) An officer of the central bank or any person appointed by the central bank under subregulation (1) shall after inspection of the credit reference bureau prepare and submit a report which shall draw the attention of the credit reference bureau to any contravention of the Act and Regulations, any weaknesses or deficiencies in systems control and procedures or in the manner of conduct of the business of the credit reference bureau inspected, any mismanagement, and any other matter relating to the business of the credit reference bureau not consistent with sound operation and practice or the principles of effective competition. (5) A credit reference bureau shall furnish to the central bank all information and data of its operations in Uganda including periodic returns required by the central bank and the audited books of account of the credit reference bureau which the central bank may require for the proper discharge of its functions under these Regulations. (6) A credit reference bureau which, without reasonable cause, fails to comply with subregulation (5), or submits inaccurate returns or reports, shall pay to the central bank a civil penalty of two hundred and fifty currency points, and, in the case of a continuing violation, an additional civil penalty not exceeding fifty currency points for each calendar day on which the violation continues. (7) The central bank may, upon request made to it by any monetary or financial regulatory authority in the ordinary course of its business, disclose any of the information provided under this regulation to that monetary or financial regulatory authority within or outside Uganda, except that the central bank shall, before disclosing any information under this regulation, satisfy itself that the information is required for the proper discharge of the functions of the requesting monetary authority or financial regulatory authority and the information shall not be used for any other purpose.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau shall submit to the central bank, by the fifteenth day of the month following the end of the calendar quarter in issue, a statistical report in the form specified in Schedule 7 to these Regulations.
2. (2) The central bank may by notice to a credit reference bureau vary the period for submission of the statistical report referred to in subregulation (1).
3. (3) A credit reference bureau licensed under these Regulations shall, within three months after the end of the calendar year, submit to the central bank an annual compliance report in the form specified in Schedule 8 to these Regulations and the report shall, among others, address the following matters- (a) accuracy of data received and reported; (b) incidence of complaints and complaint resolution; (c) adequacy of procedures employed to ensure- (i) that data received and reported by the credit reference bureau is accurate; (ii) that integrity and confidentiality of data is maintained; (iii) that complaints are resolved promptly and satisfactorily; (iv) data retention periods are adhered to; and (v) that credit scoring is done in a transparent manner and in accordance with the Act, these Regulations and other applicable laws; (d) adequacy and implementation of operational policies and procedures;
4. (e) whether the credit reference bureau only receives data from sources, or disseminates data or information to users permitted under these Regulations; (f) incidence of material change in management, key operational areas, business disruption any implication of the business disruption and remedial action undertaken; (g) compliance with the minimum information technology standards as may be prescribed by the central bank; and (h) any other matter prescribed or requested for by the central bank.
5. (4) The annual compliance report referred to in subregulation (3) shall be subject to an audit by the external auditors of the credit reference bureau or any other auditor appointed by the credit reference bureau and approved by the central bank to audit the annual compliance report.
6. (5) The cost of the annual compliance audit report shall be borne by the credit reference bureau.
7. (6) A credit reference bureau shall, within twelve months of being licensed by the central bank and thereafter, by the fifteenth day of the month following the end of the calendar quarter, submit an independent information technology audit report.
8. (7) The central bank may require a credit reference bureau to submit a report other than the report referred to in subregulations (1), (3) and (6) and shall determine the manner, form and frequency for submission of the report.

1 further item remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau shall keep proper books of account and records in accordance with International Financial Reporting Standards and the Companies Act, 2012.
2. (2) A credit reference bureau shall nominate annually for appointment as external auditor, a firm from the pre-qualified list of auditors of the central bank and seek the approval of the central bank for appointment of the nominee.
3. (3) A credit reference bureau shall submit a copy of its audited financial statements to the central bank within three months after the end of the financial year and the copy of the audit report shall also contain findings and opinion of the auditor on the state of management information systems of the credit reference bureau.
4. (4) The external auditor shall submit to the central bank a management letter in which the external auditor shall disclose all weaknesses or lapses in internal controls and risk management procedures or any contravention of the Act and these Regulations which may not be fundamental to lead to qualification of the accounts.
5. (5) Where the central bank is of the opinion that the credit reference bureau is conducting its business in contravention of the Act and these Regulations, the central bank may commission a special audit of the credit reference bureau.
6. (6) The cost of all audits shall be paid and met in full by the affected credit reference bureau.
7. (7) The central bank may prescribe the timing and types of audits and the frequency of such audits, to be conducted on acredit reference bureau.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The governance of a credit reference bureau shall vest in the board of directors consisting of not less than five members the majority of whom should be non-executive.
2. (2) The functions of the board shall be to- (a) ensure that the credit reference bureau maintains, at all times, an effective system of internal controls; (b) perform annual evaluation of the performance of the chief executive officer and oversight over senior management; (c) be responsible for the strategic direction of the credit reference bureau, approval of policies and procedures; and (d) ensure that the activities conducted by a credit reference bureau conform with the Act and these Regulations.
3. (3) A person is qualified for appointment as a director, if that person is approved by the central bank in accordance with regulation

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) , shall elect a non-executive chairperson from amongst their members (5) The board of a credit reference bureau shall meet at least once every quarter.
2. (6) The quorum for a meeting of the board shall not be less than three members.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau shall not appoint any person as an officer or employee of the credit reference bureau, or if already in office or employment, shall disqualify such a person, if such person is-
2. (a) an undischarged bankrupt or enters into a composition or scheme of arrangement with his creditors; (b) convicted of an offence involving fraud or dishonesty; or (c) removed from office under the provisions of these Regulations.
3. (2) A credit reference bureau shall not appoint any person as a senior manager without the approval of the central bank.
4. (3) For purposes of subregulation (2) a senior manager shall be a person at the rank of head of department and above.
5. (4) A credit reference bureau shall submit to the central bank an updated information sheet as specified in Schedule 3 to these Regulations not later than the 31st day of January each year.
6. (5) A credit reference bureau which contravenes this regulation commits an offence and is liable to a penalty of two hundred fifty currency points.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (2) A credit reference bureau shall only release credit information to a financial institution or microfinance deposit-taking institution or a registered society or an accredited credit provider upon satisfaction that the person to whom information is to be released- (a) requires the information to evaluate a customer's application for credit or other customer initiated business transactions; (b) has certified to the credit reference bureau that the person will use the credit information for the purpose of making a credit decision or other customer initiated business transactions; (c) shall store the credit information so provided in a secure manner and will enforce rigorous standards of security, reliability and efficiency; and (d) has agreed to properly dispose of credit information so that the credit information cannot reasonably be read or reconstructed after using it for the stated purpose except that this requirement shall not be construed to mean that information cannot be stored for future reference by the user.
2. (3) A financial institution or microfinance deposit-taking institution, registered society or an accredited credit provider shall submit and update all credit information to the credit reference bureau in accordance with these Regulations.
3. (4) A financial institution, microfinance deposit-taking institution, registered society or an accredited credit provider shall not use the information obtained from a credit reference bureau for any purpose other than to make a credit decision or other customerinitiated business transactions. (5) A financial institution, microfinance deposit-taking institution, registered society or an accredited credit provider shall not release such information to any third party, other than the agent of a financial institution, microfinance deposit-taking institution, registered society or an accredited credit provider appointed for the purpose of providing external services to the financial institution or microfinance deposit-taking institution, registered society or accredited credit provider. (6) A person to whom information is disclosed under subregulation (5) shall be under the same obligation of confidentiality as the data provider, except that the data provider shall remain liable for any misuse of this information by the third party.
4. (7) A person shall not knowingly obtain any information in respect of a data subject or data provider from a credit reference bureau except for purposes described in subregulation (2).
5. (8) A person who contravenes this regulation is liable to pay a civil penalty of fifty currency points for each breach.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The central bank may prescribe the formats for data standardisation and submission.
2. (2) A data provider is responsible for the timely submission of up-to-date information to a credit reference bureau.
3. (3) A credit reference bureau shall implement procedures to ensure that the information in its database is up-to-date.
4. (4) A credit reference bureau, its employees and agents shall take the necessary security and control measures in order to avoid improper use of, access to and mismanagement of information in its possession or information to which the credit reference bureau has access. (5) For the purposes of subregulation (4), "improper use or mismanagement of information" means any act or omission not permitted by the licence, irrespective of whether or not the improper use causes loss or damage to the data subject or produces a benefit of any kind in favour of a credit reference bureau or the employees of the credit reference bureau.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. any other person authorised by the central bank may establish a central data hub or such other industry tool for submission of credit information to the credit reference bureaus

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The central bank or a professional advisor of the central bank may use the data collected by a credit reference bureau for the performance of the functions of the central bank under the Bank of Uganda Act.
2. (2) For the purposes of subregulation (1) "professional advisor" means any individual, company or other entity appointed by the central bank to carry out any instructions, advisory or otherwise, in relation to the dispensation of the mandate of the central bank under the Bank of Uganda Act.
3. (3) The central bank may publish data on industry statistics and trends, where such information does not identify any particular consumer or relate a particular consumer to any information published.
4. (4) A credit reference bureau shall not request, collect, disseminate or process information or data for any other purpose, other than in relation to the licensed business of the credit reference bureau in Uganda.
5. (5) A credit reference bureau shall not sell, lease or transfer title, ownership or possession of any data except as shall be permitted by the central bank pursuant to these Regulations.
6. (6) A credit reference bureau which contravenes this regulation is liable, to pay a civil penalty not exceeding two hundred and fifty currency points.
7. (7) A person who obtains any information in contravention of this regulation is liable, to pay a civil penalty not exceeding two hundred and fifty currency points.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Subject to the Data Protection and Privacy Act, 2019, the following persons may share credit information across borders- (a) the central bank and other entities performing regulatory or supervisory roles; and
2. (b) credit reference bureaus or entities performing similar roles.
3. (2) The sharing of information under subregulation (1) shall only be done where there is a reciprocal arrangement between the persons sharing the credit information. (3) The central bank shall publish and maintain on its website or in any other manner, an up-to-date list of reciprocal arrangements for purposes of subregulation (2).
4. (4) Where an authorised person seeks to obtain credit information of a person from another authorised person located in another country, the following requirements shall apply- (a) the request shall be made in writing and shall set out - (i) the complete identity details of the requesting person including details of the principal place of business of that person; (ii) the nature of its business or functions; (iii) the identity details of the person whose credit information is sought; (iv) the nature of credit information that is being sought; (v) the purpose for which the information sought will be used and how it will assist in discharging a function, performing a duty or the rendering of a service; (vi) documentary evidence with respect to a matter that would require the credit information sought; (vii) the grounds on which the requesting person reasonably believes that the credit information is in possession of the other person; (viii) evidence establishing that the legal framework of the country in which the requesting person is located permits cross-border sharing of credit information;
5. (ix) an irrevocable undertaking that the information shall be used solely for the stated purpose and shall be kept confidential at all times even after the information has been used; and (x) an irrevocable undertaking that the confidentiality of the information shall be maintained at all times even after the information has been used for the purposes for which it was sought; (b) upon receipt of the request referred to in subregulation (4)(a), the receiving person shall analyse the request and establish that the request meets the requirements of these Regulations and may, if it does not, request for additional information; (c) where the credit information sought is in the possession of the requested person, the person may furnish the requesting person with the information; and (d) where the information sought is not in the possession of the requested person or the information is in the possession of another person or, for whatever reason, the requested person does not wish to share the information with the requesting person, the requested person shall notify the requesting person in writing of its decision. (5) A person who contravenes this regulation is liable to pay a civil penalty of fifty currency points for each breach.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau shall, at least twice every year, provide a data subject with a free copy of his or her information held by the credit reference bureau. (2) A credit reference bureau shall upon request by the data subject and on payment of the fee set by the credit reference bureau and prescribed by the central bank in accordance with these Regulations, provide additional copies of a data subject's information to the data subject.
2. (3) The information referred to in subregulation (1) and (2) shall be provided in such form and with such content as shall be appropriate to inform the data subject of his or her current status.
3. (4) Where a data subject requests for information under this regulation, the credit reference bureau shall, within five working days of receiving a request in writing and such particulars as may reasonably be required to identify the data subject, provide to the data subject a copy of all information relating to the data subject.
4. (5) Where the information held by a credit reference bureau includes public information or information obtained as a result of an investigation, the data subject is entitled to know from the credit reference bureau the source of the information.
5. (6) A data subject has the right to receive notification from the data provider of the results of a credit information check before an adverse action or decision is taken by the data provider basing wholly or partly on the result of the credit information check.
6. (7) A credit reference bureau shall not require a data subject to give an undertaking or waive or release any rights as preserved by law or under these Regulations as a condition precedent to the data subject's access to a credit report pursuant to this regulation.
7. (8) A data subject may- (a) in writing, authorise a third party to access a copy of his or her credit report from the credit reference bureau; or (b) in writing, request a credit reference bureau to share a copy of his or her credit information with a third party.
8. (9) A credit reference bureau shall, for requests made under subregulation (8), ensure that appropriate identification for the data subject and authorised person have been verified before issuing the data subject's information.

1 further item remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Where the data subject has reasonable cause to believe that the information contained in the database held by a credit reference bureau under these Regulations was obtained illegally, is inaccurate, erroneous or outdated, he or she may in writing request a review by the credit reference bureau of the information and any deficiencies identified shall be promptly remedied. (2) Where any legal liability or cost arises from the illegal, inaccurate, erroneous or outdated information, the financial institution,microfinance deposit-taking institution, registered society or accredited credit provider which provided the inaccurate, erroneous or outdated information is liable for the relevant cost of reviewing the information. (3) Where the complaint of a data subject is received by a financial institution, microfinance deposit-taking institution, registered society or an accredited credit provider, that financial institution, microfinance deposit-taking institution, registered society or accredited credit provider shall immediately notify the credit reference bureau to which the complaint relates, of the complaint. (4) The credit reference bureau shall, within seven working days after receipt of the notice referred to in subregulation (3), conduct an investigation, based on all relevant information provided by the complainant and contact the responsible data provider as necessary to confirm the accuracy of information. (5) The credit reference bureau shall, within three working days of being notified that the credit information of the data subject is disputed, attach a note to the credit report of the data subject stating which information is currently disputed and under investigation, which note shall remain on the file until resolution of the dispute.
2. (6) When a data provider receives a notice of dispute from a credit reference bureau under subregulation (4) the data provider shall, within seven working days after receiving the notice, complete all necessary investigations into the disputed information and give the credit reference bureau a notice of resolution, advising whether the disputed information is to be deleted, corrected or remain unchanged.
3. (7) Where the investigation reveals an error, the credit reference bureau shall immediately remedy the error.
4. (8) If the investigation is not completed within fourteen working days after the request of the data subject, the credit reference bureau shall suppress the disputed or corrected information as requested by the complainant and a note of this suppression shall be displayed on the report until the complaint is upheld or rejected.
5. (9) If the data provider does not take the requisite steps to resolve the dispute as required under subregulation (6), the data provider is liable to pay a civil penalty not exceeding two hundred and fifty currency points and may be excluded from receiving credit information from any credit reference bureau.
6. (10) Where the request for rectification of credit information is made and the credit reference bureau fails to comply with the request within the period prescribed under this regulation, the complainant may inform the central bank in writing and the central bank may, following investigations into the matter, order the credit reference bureau to comply with the request or to erase the data which is inaccurate or misleading.
7. (11) Where information of a data subject is disputed and subsequently corrected, the data subject shall be entitled to a free updated credit report as proof of the fact that the data has been corrected.
8. (12) Where the complainant has made a claim under subregulation (1) which is prima facie unfounded, a credit reference bureau or data provider may notify the complainant that, based on the information available to credit reference bureau, the claim is prima facie unfounded and shall not be investigated further.

3 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A person who is aggrieved by reason of the inaccuracy of the credit information disseminated may apply to court for redress.
2. (2) In any proceedings under subregulation (1), it is a defence to prove that a credit reference bureau or data provider took reasonable care in the circumstances to ensure that the credit information was correct and accurate at the material time.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (c) fails to comply with an order of the central bank on data and information management, contravenes these Regulations and is liable to pay a civil penalty of two hundred and fifty currency points and in the case of a continuing violation, an additional civil penalty not exceeding fifty currency points for each day on which the violation continues.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. deposit-taking institution or registered society shall, unless the central bank directs otherwise, conduct a mandatory credit check at a credit reference bureau on all the customers of the financial institution,microfinance deposit-taking institution or registered society at the time they apply for credit

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau or data provider which obtains data or information directly or indirectly in violation of a person's right to privacy shall not process such data in any way and for any purpose and shall not include such data in any credit report or other related service.
2. (2) A person who procures or causes to be procured any data or information in violation of a person's right to privacy contravenes this regulation and is liable to pay a civil penalty of two hundred and fifty currency points.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (2) The central bank may upon application by a credit reference bureau authorise the credit reference bureau to store and process data outside Uganda if the central bank is satisfied that the following conditions exist-
2. (i) that the host country has in place adequate laws for the protection of the rights and freedoms of data subjects in relation to the processing of personal data;
3. (ii) that the credit reference bureau has entered into an agreement with the data importer under which the data importer undertakes to comply with all the legal requirements for data protection in the host country and all provisions in these Regulations;
4. (iii) the agreement referred to in paragraph (ii) confers upon third parties such as the data subject and the central bank the right to enforce the agreement against the data importer or the credit reference bureau;
5. (iv) the agreement referred to in paragraph (ii) contains a provision empowering the central bank to direct the data importer to stop processing all data or any part of the data.
6. (v) that the data importer and the credit reference bureau have executed a fidelity bond in form of a bank guarantee for such sums as the central bank shall consider adequate to secure compliance with the obligations of both the credit reference bureau and the data importer and the central bank may direct the credit reference bureau to provide an additional or amended bank guarantee taking into account the prevailing circumstances such as change in risk levels;
7. (vi) that the host country has a reciprocal enforcement of judgments arrangement with Uganda;
8. (vii) that there exists a memorandum of understanding or other legal arrangements under which the central bank and the regulator of the data importer in the host country can exchange information on the operations of the data importer and the compliance of the data importer with the relevant laws;

7 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau shall keep confidential all data and information submitted to the credit reference bureau under these Regulations whether or not that data or information has been processed or has become the intellectual property of the bureau and shall not disclose to any other person any of the information or data or provide credit information or credit reports except under the following circumstances- (a) to a data provider being duly satisfied that the information is intended to be used by that data provider in connection with a credit transaction involving the customer whoseinformation is sought to be disclosed or any other business transaction initiated by the customer; (b) in compliance with these Regulations, any other law, an order of court or the central bank; or (c) where the data subject has authorised sharing of the credit information with a third party in accordance with regulation 39(8).
2. (2) A credit reference bureau shall ensure that all information provided to a person making an inquiry is up-to-date, accurate and relevant.
3. (3) A person furnished with information by a credit reference bureau shall dispose of the information in such a manner that the information cannot reasonably be read or reconstructed.
4. (4) A credit reference bureau shall not furnish any information relating to a person if- (a) the credit reference bureau knows or has reasonable cause to believe that the information is inaccurate;
5. (b) the credit reference bureau has been notified by the person whose information was processed or by the person who provided the information that the specific information is inaccurate.
6. (5) An employee of a credit reference bureau who knowingly or wilfully provides information in contravention of subregulation (1) or (4) is liable to pay a civil penalty not exceeding two hundred and fifty currency points.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

This section states a single governing proposition and does not enumerate separate elements.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

This section states a single governing proposition and does not enumerate separate elements.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A data subject who is a victim of identity theft shall, after discovering that fact, immediately notify the credit reference bureaus.
2. (2) A credit reference bureau shall, immediately upon receipt of the notice in subregulation (1) stop processing the information, block access to such information and shall not disseminate the information until an investigation is conducted to ascertain the accuracy of the information and the veracity of the claim of identity theft.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A person who is authorised to collect, process or disseminate data or information under these Regulations shall at all times maintain adequate and appropriate security measures and written procedures to safeguard the security of information or data obtained under the provisions of these Regulations to avoid unlawful or unauthorised access or processing, accidental or unlawful destruction or accidental loss of or damage to the information.
2. (2) Every user of credit information from a credit reference bureau shall identify themselves, indicate the purposes for which the credit information is sought and undertake that the credit information will be used for no other purpose.
3. (3) A credit reference bureau may refuse to furnish credit information to a user if the credit reference bureau has reasonable grounds to believe that the credit information shall be used for a purpose other than that permitted under these Regulations.
4. (4) Where a credit reference bureau fails to comply with the provisions of subregulation (1), the central bank may suspend the licence of the credit reference bureau for a period it may deem fit or until adequate security measures are, in the opinion of the central bank, installed.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The central bank shall, notwithstanding any agreements to the contrary, own all credit reference bureau data and databases obtained and created under the licence or pursuant to the provisions of these Regulations.
2. (2) The central bank shall retain the right of access to data even after revocation or expiry of the licence.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit provider or service provider may apply for approval as an accredited credit provider in accordance with these Regulations. (2) An application referred to in subregulation (1) shall be submitted to a credit reference bureau.
2. (3) The central bank shall, in consultation with the credit reference bureaus, develop and issue the criteria for accreditation of prospective accredited credit providers. (4) A credit reference bureau shall, on receipt of an application under subregulation (2), conduct an assessment of the application to determine whether the applicant satisfies the accreditation criteria issued under subregulation (3).
3. (5) A credit reference bureau shall, within a period of not more than a month after receipt of a complete application, conclude the assessment under subregulation (4) and communicate its decision regarding the application to the applicant.
4. (6) A credit reference bureau shall furnish the central bank with quarterly reports regarding the accredited credit providers indicating- (a) the number of applications received under subregulation (2); (b) the list of applicants that were successfully accredited during the quarter; (c) the list of applicants that were not accredited and reasons for not accrediting them; (d) the list of accredited credit providers that have issued the credit reference bureau with a notification under subregulation (7) or (8); and
5. (e) the level of participation of the accredited credit providers in the credit reference bureau.
6. (7) An accredited credit provider shall notify a credit reference bureau of any sale of records or any part of the loan book of the accredited credit provider which may impact on the submissions of the accredited credit provider to the credit reference bureau.
7. (8) An accredited credit provider may stop submitting data to a credit reference bureau provided the accredited credit provider issues three months' notice to the credit reference bureau of the accredited credit provider's intention to do so.
8. (9) An accredited credit provider shall, at all material times while participating in the credit reference system, comply with- (a) the provisions of these Regulations; (b) orders, directives and guidelines of the central bank; and (c) applicable industry code of conduct as may be approved by the central bank.

4 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau shall not engage in anticompetitive practices, contracts, arrangements or undertakings that are likely to substantially lessen competition in a market.
2. (2) For the purpose of this regulation, the prohibited anticompetitive practices include price fixing, cartels, taking advantage of market power and predatory pricing.
3. (3) For the purposes of subregulation (2), "price fixing" refers to a contract, arrangement or undertaking written or otherwise, where two or more of the parties to the agreement who are competitors enter into the agreement or arrangement for the purpose or effect of fixing, controlling or maintaining the price of services provided by the parties to the agreement, and it shall also include fixing a discount, allowance, rebate or credit in relation to services supplied or acquired by the parties to the agreement.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau that has a substantial market share shall not take advantage of that share in the market for the purpose of- (a) eliminating or substantially damaging a competitor of a credit reference bureau in the market; (b) preventing the entry of a person into the market; or (c) deterring or preventing a person from engaging in competitive conduct in the market.
2. (2) The central bank may, for the purposes of this regulation, in determining whether by engaging in a particular conduct, a credit reference bureau has taken advantage of its substantial degree of market share, have regard to any or all of the following- (a) whether the conduct was materially facilitated by the credit reference bureau's substantial degree of market share; (b) whether it is likely that the credit reference bureau would have engaged in the conduct if it did not have a substantial degree of market share; or (c) whether the conduct is otherwise related to the credit reference bureau's substantial degree of market share.
3. (3) For the purposes of regulation 53 and 54, the central bank shall formulate criteria which shall be used to determine whether or not a credit reference bureau has a substantial market share.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. A credit reference bureau which holds a substantial market share shall not supply or offer to supply goods or services at a price that is less than the relevant cost to the credit reference bureau of supplying such goods or services, for the purpose of- (a) eliminating or substantially damaging competitors in the market; (b) preventing the entry of any person into the market; and (c) deterring or preventing a person from engaging in competitive conduct in the market.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau which engages in any anticompetitive practice, contract, arrangement or undertaking prohibited under these Regulations commits an offence and is liable to pay to the central bank a civil penalty of two hundred fifty currency points for every act of infringement and fifty currency points for each day the act of infringement persists.
2. (2) Where the contraventions are persistent, the central bank may suspend or revoke the licence of the credit reference bureau.
3. (3) For purposes of subregulation 2, "persistent" means repeated contraventions occurring over a period of at least fourteen days.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) In any dispute relating to a matter provided for under these Regulations, where such a dispute involves a credit reference bureau and a data subject or a data provider, the central bank may, upon application of any of the parties, act as a mediator to assist the parties in an independent and impartial manner to reach an amicable settlement of the dispute.
2. (2) Where the parties agree to apply to the central bank for the purposes of mediation, the central bank shall appoint a person to act as mediator.
3. (3) Where any of the parties objects to the appointment of the named person as mediator, they shall state the reasons for the objection and the central bank may appoint another person.
4. (4) The provisions of Part V of the Arbitration and Conciliation Act, Cap. 4 shall apply to mediation under this regulation.
5. (5) The central bank or a person appointed by the central bank shall not incur any liability for carrying out an act as mediator under this regulation.
6. (6) Where either before or during mediation any party commences any legal proceedings or arbitration in respect of any dispute, no mediation shall be conducted.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau, financial institution, microfinance deposit-taking institution, registered society and accredited credit provider may enter into service level agreements to govern their operations for the purposes of carrying out the respective obligations under these Regulations.
2. (2) The terms and provisions of the service level agreements shall be consistent with the licence issued to a credit reference bureau under these Regulations.
3. (3) Any term of a service level agreement that is inconsistent with the licence issued under these Regulations shall be void to the extent of the inconsistency and shall not be binding on the parties. (4) The central bank may, in exercise of its supervisory powers under these Regulations, prescribe the minimum requirements of the service level agreements, the maximum duration and may review the contents of the service level agreements before or after execution. (5) Where the central bank conducts a review of a service level agreement and finds that the terms are inconsistent with these Regulations, any other law, the licence or are generally undesirable in public interest, the central bank shall order the parties to the service level agreement to remove such terms from the agreement.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau may be compulsorily or voluntarily liquidated in accordance with the provisions of the laws relating to insolvency and liquidation of companies in Uganda except that no application for voluntary liquidation shall be entertained by any court without the prior written consent of the central bank as required under these Regulations.
2. (2) Upon commencement of liquidation, a credit reference bureau shall deliver any data and databases containing information to the central bank or its nominated recipient in the form and in accordance with the terms and conditions stipulated by the central bank, and may also, with the express prior authorisation of the central bank, transfer the database to another credit reference bureau that has an operating licence.
3. (3) Where a credit reference bureau transfers any data and database containing information to any person in contravention of subregulation (2), the contravention shall render the credit reference bureau and each of the directors jointly and severally liable for contravening these Regulations and the credit reference bureau and each of the directors shall be responsible for any damages arising from the contravention.
4. (4) Where a credit reference bureau through its shareholders, directors or employees discloses any information in its database, before or after its dissolution, the responsible party commits an offence and is liable, on conviction to pay a fine of two hundred and fifty currency points and in the case of a continuing offence, an additional fine, not exceeding fifty currency points for each day on which the offence continues.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau may, with the prior approval of the central bank, apply to the High Court for voluntary liquidation of its business.
2. (2) An application by a credit reference bureau referred to under subregulation (1) shall be accompanied by the following documents- (a) a copy of the minutes of the special meeting of shareholders in which the agreement to dissolve was recorded; (b) a certified copy of the resolution for winding up of the credit reference bureau;
3. (c) financial statements as of the date the agreement to dissolve was made, with a report from the external auditor who was auditing the credit reference bureau and had been appointed by the central bank; and (d) a sworn statement from the chief executive officer specifying that there is no employee, corporate or tax obligations pending the resolution and that the credit reference bureau is able to meet the obligations of all its creditors.
4. (2) The central bank may, before granting the approval for voluntary liquidation of the credit reference bureau, appoint an external auditor to conduct a due diligence on the credit reference bureau.
5. (3) Where the central bank is fully satisfied with the merits of the application, the central bank may grant approval for a voluntary liquidation on such terms and conditions as it may deem appropriate.
6. (4) Where the central bank is not satisfied with the application and deems it necessary that the credit reference bureau be wound up, the central bank or the appointed agent of the central bank shall become the liquidator of the credit reference bureau.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The central bank may, at any time and without prior notice, if the central bank has reason to believe that a person is carrying on credit reference bureau business in contravention of these Regulations, authorise an officer of the central bank in writing to- (a) demand the production of and inspect any record or data of the person with respect to whom an audit, investigation or inquiry is being made, and any person who has custody, possession or control of that record or data shall produce and permit inspection of the record by the central bank;
2. (b) enter any premises which the central bank has reason to believe are occupied or used by a person to conduct a regulated business in contravention of these Regulations;
3. (c) seize or make a copy of any book, record, statement, documents or other item referred to in paragraph (a);
4. (d) question any person who is present on the premises referred to in paragraph (b), or the auditors, directors, members or partners of any person conducting business on the premises, in connection with the conducting of the business on the premises;
5. (e) direct that the premises referred to in paragraph (b) or any part of the premises or anything on the premises, should be left undisturbed for as long as is necessary to search the premises for any book, record, statement, document or item under paragraph (a);
6. (f) by notice in writing addressed and delivered to any person who has control over or custody of any book, record, statement, document or other item referred to in paragraph (a), require the person to produce the book, record, statement, document or other item to the officer of the central bank issuing the notice, at the place, on the date and at the time specified in the notice;
7. (g) examine any book, record, statement, document or other item referred to in paragraph (a) and may require from any person referred to in paragraph (d) an explanation regarding any entry in the book, record, statement, document or other item; and
8. (h) by notice in writing delivered to any person referred to in this regulation, direct that the business of that person be summarily suspended, pending the investigation by the central bank under this regulation.

1 further item remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau may charge fees for its services, which shall be agreed upon between the financial institutions, microfinance deposit-taking institutions, registered societies, accredited credit providers and the credit reference bureau.
2. (2) The fees referred to in subregulation (1) shall be denominated in Uganda Shillings.
3. (3) Notwithstanding subregulation (1), the central bank may fix the maximum fees chargeable for a standard credit report and for any other services provided by the credit reference bureau, especially where the central bank is of the opinion that the current fees charged by the credit reference bureau are exorbitant or extortionate.
4. (4) A credit reference bureau shall notify the central bank of the fee structure for all products through the periodic returns of the credit reference bureau submitted to the central bank as prescribed.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau shall have a customer claims and inquiry service section to attend to customers who may be affected by the information contained in the database and who allege that the information is illegal, inaccurate, erroneous or outdated under these Regulations.
2. (2) A credit reference bureau shall have a number sufficient of number of employees to provide the services referred to in subregulation (1) and the employees shall work to remedy the errors in the database of the credit reference bureau.
3. (3) A data provider shall establish and maintain a functional unit or dedicate competent staff to receive and resolve claims, complaints or disputes arising from credit information sharing activities.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A credit reference bureau shall not directly or indirectly engage in any other business which, in the opinion of the central bank, may conflict with the business for which the credit reference bureau acquired the licence.
2. (2) A financial institution, microfinance deposit-taking institution, registered society or accredited credit provider shall not own directly or indirectly any shares or interest in or exercise control over a credit reference bureau.
3. (3) A credit reference bureau shall not obtain any data by use of illegal means.
4. (4) A credit reference bureau shall not amalgamate with another entity or sell or otherwise transfer its assets and liabilities to another entity without the prior written approval of the central bank.
5. (5) A credit reference bureau shall not change the location or place of business of the credit reference bureau without the approval of the central bank.
6. (6) A person shall not be a director in more than one credit reference bureau.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. The chief executive officer of a financial institution, microfinance deposit-taking institution, registered society, accredited credit provider or credit reference bureau shall be responsible for ensuring compliance with, and internal dissemination of, these Regulations.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (a) issue a warning, in writing, to the credit reference bureau; (b) impose a civil penalty not exceeding two hundred and fifty currency points or higher in respect of a second or subsequent contravention; or (c) suspend the credit reference bureau for a period not exceeding six months; or (d) revoke the licence of the credit reference bureau.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Minister may, with the approval of Cabinet, amend Schedule 1 to these Regulations.
2. (2) The central bank may, in consultation with the Minister, amend Schedules 2, 3, 4, 5, 6, 7, 8 and 9 to these Regulations.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Financial Institutions (Credit Reference Bureaus) Regulations, 2005 are revoked.
2. (2) Notwithstanding the revocation in subregulation (1), all licences issued under the revoked Financial Institutions (Credit Reference Bureaus) Regulations, Statutory Instrument No. 59 of 2005 shall, in so far as they are consistent with these Regulations, remain valid and binding and shall be deemed to have been issued under the Act and these Regulations.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (2) shall comply with these Regulations within a maximum of twelve months, or a further period as the central bank may determine at its discretion on a case by case basis Schedule 1

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.