Central Bank of Seychelles (Credit Information System) (Amendment) Regulations 2014

{27th ,October 2014] Supplement to Official Gazette S.l. 91 of 2014 CENTRAL BANK OF SEYCHELLES ACT, 2004 (Act 12 of 2004) Central B:a'nkof Seychelles {Credit Information . System) (Amendment) Regulations, 2014 In the exercise of the powers conferred by sections 32A and 50oftheCentra:l Bank ·ofSeycheHes Act 2004, the Central Book .of Seychelles in consultation w :]fh the Minister of Flnanc:e, Trade and Investment hereby makes the following Regulations - 1.. These regu~ations ,may he ,cited ·as the Central Bank of SeycheHes (Credit Information System) (Amendment) R~gt1lations, 2014. 2.. The Central Bank ,ofSeycheHes ,(Credit Information Sy~em) Regulations, 2012 is amende cl as follows- (a) by repealing in regulation 6, sabregulation (2) and substituting therefor the following subregulation - "(2) A participating i1[statution shall update the CIS of any negative information- ( a) when the credit facility becomes a non-perfonningcredit; and (b) when outstanding amount is paid, partly or fully."; (b) in regulation 8( 1)- (i) by repealing in paragraph (a) the words "one month", and substituting therefor the words ~'five years"; 1755 Citation Amendment of S.L 10 of2012

1756 Supplement toOjJicial Gazette [27th October 2014] (iz) by repealing in paragraph (b) the words "two years" , and substituting therefor the words "five years"; (c) by repealing in regulation 10(2) the words "Applicants or guarantors" and substituting therefor the words "a customer of a participating institution"· , ( d) by repealing in regulations 10(3) and (4) the words "applicant or guarantor" and substituting therefor the word "requestor"; (e) in regulation 12 (3)- (i) by repealing the word "monthly", and substituting therefor the word "yearly"; (ii) by repealing the word "month" and substituting therefor the word "year". MADE this 22nd day of October, 2014. CAROLINE ABEL GOVERNOR CENTRAL BANK OF SEYCHELLES .