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(1) A data provider which is a financial institution shall submit information to a licensed credit bureau that relates to a person who enters into a credit agreement with the financial institution.

(2) The information to be provided under subsection (1) includes:

(a) the amount of the loan or other facility granted to the person from the financial institution;

(b) the sum of the outstanding loans including contingent liabilities extended to the person by the financial institution;

(c) the date on which the loan was made and the dates for payment of the principal and the interest as agreed;

(d) information on the composition and the types of collateral which secured the debt obligation;

(e) in the case of a financial institution which sells goods or offers services on a credit basis or with delayed payment terms;

(i) the amount of the goods and services provided on a credit basis together with contingent and possible obligations,

(ii) the dates the services were provided,

(iii) the agreed schedule of payment for the services, and

(iv) information on the composition and the types of collateral that secured the payment obligations;

(f) where the borrower is a natural person including an entrepreneur, the following information

(i) full name,

(ii) gender,

(iii) date of birth,

(iv) place of residence,

(v) information contained in the borrower’s identification documents including passport, voter’s identity card and national identity

(vi) the taxpayer registration number of the borrower, and

(vii) the social security number of the borrower, and

(g) where the borrower is an artificial person, the following information is to be submitted;

(i) the name of the entity,

(ii) its organizational and legal form,

(iii) its location,

(iv) the number and date of registration as a legal entity

(v) the taxpayer identification number,

(vi) the full names of its Chief Executive Officer, directors and shareholders, and

(vii) the taxpayer identification numbers of the Chief Executive Officer, directors and shareholders.

(3)

(a) A financial institution shall provide this information to licensed bureaus within seventy-two hours after entering into a credit agreement or facility,

(b) A financial institution shall on a monthly basis provide information to licensed credit bureaus on the status of performance of the customer’s obligations under the credit agreement or facility

(4)  

(a) A financial institution shall not require a borrower to provide information on the race, ethnic origin, political, religious or union affiliation or membership of a borrower,

(b) A financial institution which provides information on race, ethnic origin, political, religious or union affiliation of a borrower commits a breach and is liable to a pecuniary penalty of not more than two thousand five hundred penalty units.