(1) A credit bureau, data provider or credit information recipient shall observe the following principles:

(a) the equality of credit information subjects;

(b) the confidentiality of information;

(c) non-interference in the private life of citizens;

(d) respect for the rights, liberties and lawful interests of persons and legal entities;

(e) accuracy and transparency of information; and

(f) privacy and secrecy of communication.

(2) The Bank may issue statements of principle with respect to the conduct of persons licensed under this Act.

(3) A person who fails to comply with the statement of principle breaches the provisions of this Act.