(1) A licence granted by the Bank is subject to conditions specified in the licence.

(2) Without limiting the effect of sub-section (1), an applicant for a credit bureau licence shall provide the following documents and information:

(a) a copy of the applicant’s certificate of incorporation, regulations and certificate to commence business;

(b) documents that support the value of the applicant’s capital base;

(c) a feasibility study by the applicant company that shows the business plan, organizational structure and internal monitoring procedures of the company and information on;

(i) mission statement and goals,

(ii) market analysis,

(iii) ownership structure,

(iv) governance structure,

(v) management structure,

(vi) a description of projected investments,

(vii) financial statements on a pro-forma basis for a minimum of three

years,

(viii) analysis on profitability, and

(ix) a business continuity plan;

(d) details of the applicant’s shareholders, directors and other officers;

(e) a description of the applicant’s premises and suitability for credit bureau activities;

(f) the particulars of the proposed key management personnel concerned with the management of the credit bureau business including qualifications;

(g) information necessary for assessing the trust worthiness of the applicant; and

(h) the overview of operations including a description of systems, design of the data collection and dissemination and management processes including

(i) the development schedule of the software required for operation,

(ii) characteristics of products and services to be provided to users,

(iii) policy on service provision,

(iv) proposed security and control measures to prevent improper access to information,

(v) proposed security and control measures to prevent improper access to management of information,

(vi) operational manuals designed to ensure accuracy of information contained in the database and its update, and

(vii) the proposed fee and cost structure of products.