(1) The Review Commission shall —
(a) within 28 days of the date of submission of an application for review, issue a written decision concerning the application, stating the reasons for the decision and the remedies granted, if any; and
(b) no later than 7 days from the date of the decision, give notice, in writing to —
(i) the applicant of the decision of the Review Commission, the reasons for the decision and the right of the applicant to appeal the decision under Part 8; and
(ii) any other person who participated in the review proceedings of the decision of the Review Commission and the reasons for the decision.
(2) After giving notice under subsection (1), the Review Commission may make the decision and the reasons for the decision available for inspection by members of the public; but no information shall be disclosed if such disclosure —
(a) is contrary to law;
(b) is not in the public interest; or
(c) is likely to prejudice the legitimate commercial interests of the credit bureau which is a party to the review proceedings.
(3) The Review Commission may, after making or causing to be made such inquiry or investigation as it thinks necessary, grant one or more of the following remedies —
(a) direct the Central Bank or the credit bureau as the case may be, to act or to proceed in a lawful manner or to reach a lawful decision;
(b) annul, in whole or in part, an unlawful act or decision of the Central Bank or credit bureau as the case may be;
(c) subject to subsection (5), reverse an unlawful decision of the Central Bank or credit bureau as the case may be;
(d) substitute its own decision for an unlawful decision of the Central Bank or credit bureau as the case may be.
(4) The Review Commission may dismiss the application if the Review Commission is of the opinion that the application —
(a) is frivolous or irrelevant;
(b) was not made in good faith;
(c) is devoid of sufficient grounds for a hearing;
(d) is not supported by evidence of probative value; or
(e) does not pertain to a matter which the Review Commission is empowered to deal with under this Act or the Regulations.
(5) The Review Commission may annul, reverse or substitute the decision of the Central Bank only if —
(a) the Central Bank failed to follow the prescribed procedure;
(b) the Central Bank's decision is contrary to law;
(c) there was no factual basis for the decision of the Central Bank; or
(d) based on a review of the records, the Central Bank —
(i) committed a manifest error in its assessment of facts; or
(ii) abused its discretion.
(6) The Review Commission shall, in writing, promptly notify the parties to the review proceedings of the decision of the Review Commission and the reason for its decision.
(7) Unless appeal proceedings are instituted under Part 8, the decision of the Review Commission is final and binding.