Credit Information Regulations, 2022

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Supplement C — Botswana Government Gazette dated 12th August, 2022 C.2407 Statutory Instrument No. 101 of 2022 CREDIT INFORMATION ACT (Act No. 17 of 2021) CREDIT INFORMATION REGULATIONS, 2022 (Published on 12th August, 2022) ARRANGEMENT OF REGULATIONS REGULATION

1. Citation
2. Register of credit bureaus
3. Application for licence
4. Variation of conditions of licence
5. Surrender of licence
6. Form and content of credit report
7. Complaints report by credit bureau
8. Provision of information by data provider
9. Notification of adverse action
10. Initiating complaint to Bank
11. Enforcement notice
12. Access to documents
13. Summoning of senior management of credit bureau
    SCHEDULES
    IN EXERCISE of the powers conferred on the Minister of Finance by section 58 of the Credit Information Act and in consultation with the Bank, the following Regulations are hereby made —
14. These Regulations may be cited as the Credit Information Regulations,
16. (1) The Bank shall enter in the Register of credit bureaus the following —
    (a) a credit bureau’s licence number with the Bank; (b) a credit bureau’s full name; (c) a credit bureau’s trading name, if applicable; (d) date of licensing; (e) conditions of licensing, if any; (f) whether the licence has been altered, and details thereof, if applicable; (g) where the licence has been cancelled, the reasons for cancellation and the date of cancellation of licence; and (h) a credit bureaus’ contact details, including — (i) physical address, (ii) telephone number, (iii) fax number, (iv) email address, and (v) contact person.
17. (1) A person who wishes to obtain a licence shall apply to the Bank for a
    licence in accordance with Form A set out in the Schedule. Citation Register of credit bureaus Application for licence

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(2) An applicant for a licence under subregulation (1) shall provide — (a) full personal details, qualification, experience and interest of its general management; (b) full personal details, qualification, experience and interest — (i) board of directors, (ii) shareholders, and (iii) beneficial owners; (c) constitution of applicant; (d) business plan; (e) evidence of human capital and technological resources; and (f) an application fee of P 5, 000. (3) Where the application meets all the requirements, the Bank shall issue the applicant with a credit bureau licence in accordance with Form B set out in the Schedule. (4) A licence issued by the Bank shall be subject to an annual licence fee of P20 000.
4. A licensee may make an application to the Bank in terms of section 10 of the
Act, for variation of any term or condition attached to its licence in accordance with Form C set out in the Schedule.
5. Where a licensee wishes to surrender its licence in terms of section 12 of
the Act the licensee shall submit a notice of surrender to the Bank in accordance with Form D set out in the Schedule.
6. A person who requests for a credit report in terms of section 25 of the
Act, from a credit bureau shall apply in accordance with Form E set out in the Schedule.
7. (1) A credit bureau shall in terms of section 30 (c) of the Act, submit a
bi-annual report in Form F set out in the Schedule.
(2) The bi-annual report in subregulation (1) shall include the following information — (a) the total number of complaints received; (b) the nature of the complaint; (c) the number of complaints that were found to be valid, partially valid and invalid, respectively; (d) the number of complaints resolved and outstanding; and (e) the nature and validity of complaints according to categories which shall include — (i) inaccurate or incorrect information, (ii) insufficient or incomplete information, (iii) outdated information, (iv) double listing, (v) incorrect merging of information, and (vi) consumer withdrawing a complaint. (3) Subject to subregulation (1), a credit bureau shall submit to the Bank the bi-annual reports in respect of the reporting periods — (a) in respect of reporting period 1st January to 30st June by the 10th of July; and (b) in respect of reporting period 1st July to 31st December by the 10th of January. Variation of conditions of licence Surrender of licence Form and content of credit report Complaints report by credit bureau

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8. A data provider shall provide consumer information to a credit bureau in
accordance with Form G set out in the Schedule.
9. A data provider shall notify a data subject of adverse action by it in
terms of section 36 of the Act by providing the data subject with the following information — (a) name and contact details of the data provider that submitted the adverse report; (b) the part of the credit report relied on in taking the adverse action; (c) the date the credit report was obtained; and (d) reasons for the adverse action.
10. (1) A complainant may lodge a complaint to the Bank against a credit
bureau in accordance with Form H set out in Schedule.
(2) Where a complaint is made by a person acting on behalf of a complainant, the complaint shall be accompanied by a written consent of the complainant. (3) The complainant’s consent referred to in subregulation (2) shall contain the following — (a) name and identity number of the third party, accompanied by a copy of the third party’s identity document; (b) name of the credit bureau; (c) full name, identity number and signature of the complainant; (d) date of the transaction or event to which the complaint relates; (e) details of the complaint; and (f) a consent for the third party to lodge and handle the complaint, signed by the complainant. (4) The Bank shall investigate a complaint within 90 days of receiving such complaint.
11. (1) An enforcement notice issued in terms of section 43 of the Act shall
be in accordance with Form I set out in the Schedule.
(2) The enforcement notice issued in subregulation (1) shall contain the following information — (a) the section of the Act in terms of which the notice has been issued; and (b) the date of the notice.
12. A person may make an application to the Bank to obtain copies of
permitted information in terms of section 47 of the Act in accordance with Form J set out in the Schedule and on payment of an application fee of P100.
13. The Bank may in terms of section 50 (1) of the Act summon a senior
manager, director of the board or shareholder of a credit bureau for an examination in accordance with Form K set out in the Schedule. Provision of consumer information by data provider Notification of adverse action Initiating complaint to Bank Enforcement notice Access to documents Summoning of senior management of credit bureau

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SCHEDULE
Form A
(regulation 3 (1))
APPLICATION FOR A CREDIT BUREAU LICENCE The applicant must submit the completed application form, together with the required documentation and application fee to the Bank.
PART 1 — APPLICANT’S INFORMATION

1. Name of applicant:……………………………………………………………………....…..
2. Legal status (type of company or entity):……………………………………………....……
3. Company registration number:……………………………………………………....………
4. Date of commencement of trading:………………………………………………….....……
5. Financial year-end:………………………………………………………………….....…….
6. Income tax registration number:…………………………………………………….....…….
7. VAT registration number:……………………………………………………………......…..
8. Contact detail of the Applicant:……………………………………………………….....…..
   Physical Address:…………………………………………………………………….....…...
   Postal Code:…....…………………
   Postal Address:……...........…………………………………………………………………….
   Postal Code:……......……………..
   Telephone number: ( )…......………………………………………...........………………… Fax number: ( )……….............……………….....…………………………………………. Website address:…………….............……………………………………………………….. Email address:………………….........……………………………………………………….
9. Contact person:……………………….......………………………………………………….
   Title:………………………………………………………………….........………………… Name and initials:……………………………………………………........………………… Surname:…………………...………………………………………………….........………………….. Telephone number (office):…........…………………………………………………………. Cellphone number:…………….........……………………………………………………….. E-mail address (if applicable):…………........……………………………………………….
10. Name of auditor or accountant:……......………………………………………………..….
    Physical Address:…….........…………………………………………………………….….
    Postal Code:……….....……………
    Telephone number: ( )……................……………………………………………………….. Fax number: ( )……….................………………………………..………………………… E-mail address:…………………….........………………………………………………….. Practice number:…………........…………………………………………………………….
11. Compliance Officer:…………………….....………………………………………………..
    Name of Internal Compliance Officer/External Compliance Firm:…………………………………...…………………………………………………….. Telephone number: ( )……………………...........………………………………………….. Fax number: ( )………...........……………………………………………………………… E-mail address:…………………………......……………………………………………….. Physical Address:………………………….......…………………………………………….. Postal Code:………………………

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Postal Address:……............…………………….......………………………………….. Postal Code:…………………………………. Telephone number: ( )………………………………………………………………..
12. Type of business conducted by the applicant (circle appropriate answer)
Receive enquiries for purposes of financial transactions applications Yes No Receive information on conclusion of financial transactions Yes No Receive information on payment history, patterns or behaviours Yes No Receive consumer information Yes No Investigate financial transactions applications Yes No Investigate financial transactions Yes No Investigate payment history, patterns or behaviours Yes No Investigate personal financial information Yes No Compile and maintain data from such reports Yes No
PART 2 — MEMBERS, DIRECTORS, TRUSTEES, PARTNERS AND GENERAL
MANAGERS OF THE APPLICANT

1. Does the Applicant or any natural person exercising general management or control
   whether alone or in conjunction with others, hold a controlling interest in any of the following businesses: (circle appropriate answer) A financial transactions provider Yes No A debt collection agency Yes No
2. If the answer to any of the above is “yes”, please provide full details:
   …………………………………………………………………………………………………
   …………………………………………………………………………………………………
   …………………………………………………………………………………………………
   …………………………………………………………………………………………………
   ……………………....................................……………………………………………………
   PART 3 — QUALIFICATION, COMPETENCE, KNOWLEDGE AND EXPERIENCE
   Do you maintain and impose minimum qualifications, competence, knowledge and experience requirements for employees, agents and/or outsource services provider who will have the authority to represent the applicant in any of its obligations or functions under this Act? (circle appropriate answer) Yes No If so, please indicate the minimum requirements imposed and the persons to whom these minimum requirements apply:
   ........................................……………………………………………………………………… ………………………………………………………………………………………………… …………………………………………………………………………………………………
   PART 4 — HUMAN, FINANCIAL AND OPERATIONAL RESOURCES
3. Human resources (circle appropriate answer)
   1.1 Indicate the number of staff employed:…………………………
   1.2 Does the applicant have a call centre? Yes No
   1.3 Indicate:
   (a) Average number of calls received daily:…….....………………………………. (b) Number of staff employed in the call centre:…………………………………..

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1.4 Are any of the services and functions of the applicant as credit bureau outsourced?
Yes No
If yes, please provide full details of the services that are outsourced…............………… ……………………………………………………………………………………… ……………………………………………………………………………………… ………………………………………………………………………………………
1.5 If the applicant does not have a call centre, indicate how the applicant intends on
dealing with enquiries, and who will be responsible for dealing with such enquiries:
………………………………………………………………………………………
……………………………………………………………………………………….
2. Operational resources
2.1 Do you have a fixed business address? Yes No
2.2 Do you have adequate access to communication facilities, including
telephone, typing, fax and copying facilities? Yes No
2.3 Do you have adequate storage and filing systems for the safe-keeping
of all records? Yes No
2.4 Do you have procedures in place and sufficient resources to accept
the filing of consumer information? Yes No
2.5 Do you have procedures in place and sufficient resources to take
reasonable steps to verify the accuracy of any consumer information reported to you? Yes No
2.6 Do you have procedures in place and sufficient resources to retain
consumer information reported to you for the prescribed period? Yes No
2.7 Do you have procedures in place and sufficient resources to maintain
your records of consumer information in a manner that satisfies the prescribed standards? Yes No
2.8 Do you have procedures in place and sufficient resources to promptly
expunge from your records any prescribed consumer information that, in terms of the Regulations, is not permitted to be entered in your records? Yes No
2.9 Do you have procedures in place and sufficient resources to issue a
report to any person who requires it for a prescribed purpose or a purpose contemplated in the Act? Yes No
2.10 Do you have sufficient resources to comply with accounting and
reporting requirements in terms of the Act? Yes No
2.11 Do you have sufficient resources to ensure compliance with the
requirements of the Act and the Regulations? Yes No If the answer to any of the above is “No”, please provide a credible plan to acquire or develop these resources or procedures.

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PART 5 — QUESTIONS, CONCERNS AND COMPLAINTS

1. Do you have a policy in place to handle questions, concerns and complaints?
   Yes No
2. Does this policy outline your commitment to handle questions, concerns
   and complaints as well as your internal systems and procedures for resolving questions, concerns and complaints? Yes No
3. Do these internal systems and procedures ensure that questions, concerns
   and complaints from consumers or data providers are treated equitably and consistently? Yes No
4. Do these internal systems and procedures ensure that questions, concerns
   and complaints from consumers or data providers are treated in a timely, efficient and courteous manner? Yes No
5. Are these internal systems and procedures transparent and visible to
   consumer and data providers (i.e. do consumers and data providers have knowledge of these systems)? Yes No
6. Do you have sufficient human resources to handle questions, concerns
   and complaints from consumers and data providers? Yes No
7. Are your human resources adequately trained to handle questions,
   concerns and complaints from consumer and data providers? Yes No
8. Are your facilities accessible to consumers and data providers? Yes No
   If the answer to any of the above is “No”, please provide a credible plan to acquire or develop these resources or procedures………………………………………………………… …………………………………………………………………………………………………
   PART 6 — BUSINESS PREMISES
   THIS FORM MUST BE COMPLETED IN RESPECT OF ALL BUSINESS PREMISES FROM WHICH THE APPLICANT CONDUCTS/INTENDS TO CONDUCT THE BUSINESS OF A CREDIT BUREAU. MAKE ADDITIONAL COPIES.
9. Total number of business premises:……………............……………………………………
10. Information required per business premises
    Business premises 1
    Trading name:………………………………………………………………………………….
    Physical Address:……………………………………………………………………………… Postal Code:…………………………….. Contact person:………………………………………………………………………………… Telephone number: ( )………………………………………….....………………………….. Fax number: ( )………………....……………………………………………………………. E-mail address:………………………………………………………………………………... Business premises 2 Trading name:…………………………………………………………………………………. Physical Address:……………………………………………………………………………… Postal Code:……………………………

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Contact person:………………………………………………………………………………… Telephone number: ( )……………………....………………………………………………... Fax number: ( )………......…………………………………………………………………… E-mail address:…………………………………………………………………………………
PART 7 — DECLARATION BY CREDIT BUREAU
The applicant hereby permits the Bank or any person authorised by the Bank in section 28 of the Act to enter any place at or from which the applicant conducts the registered activities during normal business hours, and to conduct reasonable inquiries for compliance purposes. The applicant confirms that the information contained in this application is accurate and complete. Date:……………………………………….……….. Capacity:…………………………………………… Name of signatory:…………………………………. Signature:…………………………………………… Signatory warrants that he/she is a duly authorised representative of applicant
PART 8 — DISQUALIFICATION OF NATURAL PERSONS
THIS FORM MUST BE COMPLETED AND SIGNED IN RESPECT OF EACH NATURAL PERSON WHO EXERCISES GENERAL MANAGEMENT OF THE APPLICANT, WHETHER ALONE OR IN CONJUNCTION WITH OTHERS. MAKE ADDITIONAL COPIES. Name of natural person completing form:…………………………………… Identity number:……………………………………………………………... Position (within the applicant):……………………………………………… Date:…………………………………………………………………………. Questions (circle where appropriate)

1. Are you subject to an order of court declaring you to be mentally unfit or to
   be suffering from a mental disorder? Yes No
2. Have you ever been removed from office on account of misconduct relating
   to fraud or the misappropriation of money? Yes No
3. Have you ever been a director or member of an entity at the time that such
   entity has been de-registered? Yes No
4. Have you ever been a director or member of an entity at the time that
   such entity has brought the credit industry or consumer information market into disrepute? Yes No
5. Have you ever been a director or member of an entity at the time that
   such entity has acted with disregard for consumer rights generally? Yes No
6. Have you been convicted, during the previous ten years, of theft, fraud,
   forgery, perjury or a similar offence and been sentenced to imprisonment and/or fined as a result? Yes No

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7. Have you been convicted, during the previous ten years, of a crime involving
violence against another natural person and been sentenced to imprisonment and/or fined as a result? Yes No
8. Have you been convicted, during the previous ten years, of any act which is
considered an offence in terms of the Act? Yes No If your answer to any of the above is yes, please provide full details in respect thereof:
……………………………………………………………………………………………
……………………………………………………………………………………………
……………………………………………………………………………………………
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Check list for accompanying documents.

1. Certified copy of ID or passport for non-citizens
2. Copy of CV
3. Certified copies of certificates
4. Copy of the applicant’s most recent audited financial statements
5. Copy of policy, if any
6. Applicant’s representative’s proof of authorisation
   By signing below, I hereby:

• give permission to the Authority and its authorised agents to perform any criminal
  enquiry on me, and to access all information relating thereto, including any directions by the Court for my detention in a mental hospital or prison;
• indemnify the Authority, its agents and its employees and hold them harmless against
  any claims by myself or any other person that may arise out of or be connected with such disclosure, including any legal costs; and
• certify that the information contained herein is true and correct.

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Signature

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Form B
(regulation 3 (3))
CREDIT BUREAU LICENCE
Licence No.…………….
BANK OF BOTSWANA
CREDIT BUREAU LICENCE
This is to certify that
…………………………………………………………………………………………………
…………………………………………………………………………………………………
………………………………………………………………………………………………… is hereby licensed to operate as a credit bureau under section 8 (2) of the Credit Information Act, 2021 subject to compliance with the provisions of all applicable laws and regulations and such other policies and directives as may be issued from time to time by the Bank of Botswana. This licence is subject to renewal annually. Please take notice that in terms of section 8 (3) of the Credit Information Act, 2021, the Bank imposes the following conditions on the licensing of the Credit Breau:
……………………………………………………………………………....………………… …………………………………………………………………………....…………………… ………………………………………………………………………………....……………… ……………………………………………………………………………………....………… ………………………………………………………………………………………....……… The above conditions are imposed on the Credit Bureau for the following reasons:
………............………………………………………………………………………………… …………………………………………………………………………........………………… ……………………………………………………………………………………........……… ……………………………………………………………………………………………....… …………………………………………………………………………………………....…… Signed at………………............…..on this….....………..of …………..……..of …………….. Full names of signatory:……………….........………………………………………………… Bank stamp

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Signed at……………………..on this..…………………..day of………..........……,………… –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Director, Banking Supervision Department

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FORM C
(regulation 4)
APPLICATION CREDIT BUREAU FOR VARIATION OF TERMS AND CONDITIONS OF LICENCE Name of Credit Bureau:……………………….………………………………………………. Licence Number at the Bank:…………………….…………………………………………… Contact number: ( )………………....………………..……………………………………….. E-mail:………………………………..………………………………………………………... Postal Address…………………………..……………………………………………………... To:
Bank of Botswana
Please take notice that the Credit Bureau hereby applies to the Bank in terms of section 10 of the Credit Information Act, 2021 to have its conditions of licensing reviewed on the following grounds: ……………………………………………………………………………………… ………………………………………………………………………………………………… ………………………………………………………………………………………………… ……………………………………………………………………………………………… ………………………………………………………………………………………………… Signed at………......…….on this………....……of………....………… of……………....…… Signature of the duly authorised representative of the Credit Bureau:…………………….......................................… Full names of signatory:……………………………… For official use only Full names of the Bank representative:…………………………………………………. Signature:……………………………………………………………………………….. Signed at……………………..on this……..…………of ………………….…of……..……… Bank stamp

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FORM D
(regulation 5)
NOTICE TO SURRENDER A LICENCE
This form must be submitted to the Bank Name of Credit Bureau:……………………………………...………………………………… Licence Number at the Bank:………………………..………………………………………… Contact number: ( )………………….......…………………………………………………….. E-mail:………………………………….……………………………………………………… The Credit Bureau hereby gives notice to the Bank of its intention to voluntarily surrender its licence with effect from:………………………………………{insert date at least five business days from date of signature of this notice}. The reason(s) for the surrender is/are:………………………………………………………… ………………………………………………………………………………………………… ………………………………………………………………………………………………… ………………………………………………………………………………………………… Signed at………...........…..on this….…………..of……..……………..of …………………… Signature of duly authorised representative of Credit Bureau:…………………………………. Full names of signatory:………………………………………………………………………... For official use only Full names of the Bank representative:…………………………………………………. Signature:……………………………………….……………………………………….. Signed at…………………..on this……..…..…of ………………....……of…..........………… Bank stamp

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FORM E
(regulation 6)
CREDIT REPORT
Report Number:…............……
INFORMATION