Mandatory membership in credit information companies extended to allow institutions time to choose among registered providers. The Order, effective immediately, prescribes that any credit institution in existence on commencement of the Act shall become a member of at least one credit information company by 31st December, 2008, extending the original statutory time limit because no company had been granted registration to carry on the credit information business within the initial three month period, and thereby permitting institutions to exercise choice among duly registered companies.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Mandatory membership in credit information companies extended to allow institutions time to choose among registered providers.
The Order, effective immediately, prescribes that any credit institution in existence on commencement of the Act shall become a member of at least one credit information company by 31st December, 2008, extending the original statutory time limit because no company had been granted registration to carry on the credit information business within the initial three month period, and thereby permitting institutions to exercise choice among duly registered companies.
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