Revised Laws of Saint Lucia (2023)

2.   Interpretation

In this Act —

“access log” means a record of every access gained to the credit information of a data subject held by a credit bureau, other than access that is automatically generated by the credit bureau;

“adverse action” in relation to a data subject, means a decision based on data subject information that is obtained from a credit bureau —

1.  

   (a)     to charge a higher interest rate payable by the data subject in respect of a loan;

1.  

   (b)     to deny the data subject a loan;

1.  

   (c)     to cancel a loan made to the data subject; or

1.  

   (d)     that otherwise negatively affects a transaction between the data subject and a credit provider;

“adverse action notice” means a written notice issued under section 28;

“applicant” means a person who makes an application, under section 5, for a licence;

“Central Bank” means the Eastern Caribbean Central Bank established under Article 3 of the Eastern Caribbean Central Bank Agreement 1983;

“chief executive officer” means the most senior decision making officer in a credit bureau who is responsible for —

1.  

   (a)     carrying out the policies of the board of directors; and

1.  

   (b)     reporting to the board of directors,

whether or not that person is formally designated as the chief executive officer;

“Civil Procedure Rules” means the Eastern Caribbean Supreme Court Civil Procedure Rules 2000;

“credit” includes —

1.  

   (a)     any money lent or made available to a person for which immediate payment is not demanded but an obligation of repayment exists as of a future date; and

1.  

   (b)     a contract, an agreement or an undertaking to provide a loan, property or service to a person, while deferring payment;

“credit bureau” means an entity incorporated under the Companies Act that —

1.  

   (a)     is licensed under section 7 to carry out the activities listed in section 17; and

1.  

   (b)     may operate for gain or profit or on a regular, cooperative, non-profit basis;

“credit file” means the information about the data subject's credit, identification and other information collected, kept, maintained or otherwise processed, in electronic form or otherwise, by a credit bureau from which a credit report is generated;

“credit information” means any positive or negative information bearing on a data subject's credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics or mode of living including, but not limited to, the history or profile of the data subject with regard to credit, assets or financial obligations;

“credit information provider” means a person specified in section 27 that gives, to a credit bureau, credit information on a data subject;

“credit provider” includes —

1.  

   (a)     a person that carries on a business involving —

   1.  

      (i)     the provision of credit to another person; and

   1.  

      (ii)     the selling of goods on hire purchase or credit sales under the Consumer Credit Act; and

1.  

   (b)     any other entity designated as a credit information provider under section 27(3);

“credit report” means a comprehensive account prepared by a credit bureau, in electronic or hard copy format, that includes personal identification and credit information on a data subject;

“credit reporting service” means any activity listed in section 17(2);

“credit score” means information processed by a credit bureau that is used for evaluating the probability of a data subject fulfilling its financial obligations associated with a loan;

“Currency Union” refers collectively to the territories of Anguilla, Antigua and Barbuda, The Commonwealth of Dominica, Grenada, Montserrat, Saint Christopher and Nevis, Saint Lucia and Saint Vincent and the Grenadines, which use the Eastern Caribbean currency as their official currency;

“database” means a collection of data subject information compiled, maintained or otherwise processed by a credit bureau;

“data subject” includes any person —

1.  

   (a)     whose information has, or may have, been furnished to the credit bureau by reason of a contractual relationship with a credit provider, a loan application signed by the person, or any other legitimate purpose;

1.  

   (b)     who is a guarantor of a person referred to in paragraph (a);

“data subject information” includes any information relating to the credit information or personal information of a data subject, whether such information is obtained from the data subject, a third party or specified public register, that may be processed under this Act or the Regulations;

“director” means a member of the board of directors of a credit bureau;

“Eastern Caribbean Central Bank Agreement” means the Agreement establishing the Eastern Caribbean Central Bank made on the 5^th day of July, 1983, the text of which is set out in the Schedule to the Eastern Caribbean Central Bank Agreement Act, and any revisions made thereto;

“entity” means a body corporate and any unincorporated association or organization, but does not include an individual;

“law enforcement agency” means a legally authorized body with responsibility for the enforcement of any law;

“licence” means a licence granted under section 7;

“loan” includes —

1.  

   (a)     direct, indirect or contingent obligations incurred by a data subject with a third party;

1.  

   (b)     any discount, advance or overdraft;

1.  

   (c)     export bills purchased or other bills receivable purchased;

1.  

   (d)     import bills, or data subjects' liability on off-balance sheet items; and

1.  

   (e)     any other credit facilities extended to a data subject by a credit provider;

“material change in circumstances” has the meaning assigned to it in section 14;

“Minister” means the Minister responsible for Finance;

“Monetary Council” means the Monetary Council established under Article 7 of the Eastern Caribbean Central Bank Agreement 1983;

“negative information”, in relation to the delinquent status of a credit transaction between a data subject and a credit provider, includes —

1.  

   (a)     credit defaults, collections and late payments;

1.  

   (b)     accounts compulsorily closed other than for administrative reasons;

1.  

   (c)     voluntary or mandatory surrender of assets;

1.  

   (d)     conviction for the offence of fraud or forgery;

1.  

   (e)     receiverships, bankruptcies and liquidations;

1.  

   (f)     liens, garnishment or judgments;

1.  

   (g)     cheque kiting activity;

1.  

   (h)     refusal to provide business financial statements; and

1.  

   (i)     any other act or information which could cause a credit application to be declined or restricted according to a credit provider's policy relating to the overdue, past due, charge off, or delinquent status of the credit transaction between the data subject and the credit provider;

“officer” includes the chief executive officer, chief financial officer, treasurer and chief internal auditor of a credit bureau;

“operations systems” includes the design of the data collection systems of an applicant;

“payment history” in relation to a data subject, means a detailed compilation of the past and current payment behaviour of the data subject;

“personal information” in relation to a data subject, means —

1.  

   (a)     in the case of an individual —

   1.  

      (i)     the full name;

   1.  

      (ii)     an alias or previous name;

   1.  

      (iii)     the gender;

   1.  

      (iv)     the date of birth;

   1.  

      (v)     the Social Security number;

   1.  

      (vi)     the passport number;

   1.  

      (vii)     the driving licence number;

   1.  

      (viii)     past and current addresses; and

   1.  

      (ix)     any other contact information of the individual; and

1.  

   (b)     in the case of an entity —

   1.  

      (i)     the full business name;

   1.  

      (ii)     any previous business name;

   1.  

      (iii)     the registration number;

   1.  

      (iv)     the Social Security registration number;

   1.  

      (v)     the tax identification number, where relevant;

   1.  

      (vi)     the current registered address;

   1.  

      (vii)     the past registered addresses (if any);

   1.  

      (viii)     names of the directors and significant shareholders; and

   1.  

      (ix)     any other contact information of the entity;

“positive information” means any information relating to the current or historical status of a credit transaction between a data subject and a credit provider including, but not limited to —

1.  

   (a)     the date on which an account was opened;

1.  

   (b)     the amount of the loan;

1.  

   (c)     the date of the last payment;

1.  

   (d)     any outstanding credit;

1.  

   (e)     any high credit approved;

1.  

   (f)     the amount of payments;

1.  

   (g)     the payment history;

1.  

   (h)     the current balance;

1.  

   (i)     the repayment patterns;

1.  

   (j)     the utilisation of credit; and

1.  

   (k)     any collateral pledged;

“process” means to —

1.  

   (a)     collect, keep, maintain, hold or store the credit information; or

1.  

   (b)     carry out any operation or set of operations on the credit information, including —

   1.  

      (i)     the organization or adaptation of the credit information;

   1.  

      (ii)     the retrieval, consultation or use of the credit information;

   1.  

      (iii)     the disclosure of the credit information by transmission, transfer or dissemination; and

   1.  

      (iv)     the alignment, combination, correction, erasure or destruction of the credit information;

“record” means any book, paper or document, whether in electronic form or otherwise, that contains or may contain information regarding the finances or business of the credit bureau;

“Regulations” means Regulations made under this Act;

“Review Commission” means the Review Commission appointed under section 41 of this Act;

“specified public register” means a public register kept and maintained in a public registry listed in Schedule 1;

“subscriber” means any person who is entitled —

1.  

   (a)     pursuant to a subscriber agreement; or

1.  

   (b)     under this Act,

to receive from a credit bureau credit reports or value added products;

“subscriber agreement” means a written agreement that provides a credit information provider or a subscriber with the terms and conditions upon which data subject information may be disclosed to, or may be accessed from, a credit bureau;

“value added product” means a credit score or any other product that a credit bureau develops, within the limits imposed by this Act, to increase the value of the credit reporting services that the credit bureau provides;

“writing” includes communicating by facsimile transmission, electronic mail and any other mode of representing or reproducing words in visible form.