Credit Review Act 2026
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Declining to conduct a review | ||
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27. (1) The Service may decline to undertake a review under section 26 , or may discontinue such a review where, in the opinion of the Service— | ||
(a) the application for review is frivolous or vexatious or was not made in good faith, | ||
(b) the application was not made by a borrower, | ||
(c) the borrower has not exhausted any internal appeals procedure established by the relevant person concerned, | ||
(d) the application was made after the expiry of the time limit specified in section 26 (2) or, where applicable, that time limit as extended under section 26 (3), | ||
(e) the borrower has not paid the prescribed fee in respect of the application for review, or | ||
(f) the borrower fails to comply with its obligations under section 26 (10) or otherwise fails to engage with the Service in relation to the application for review. | ||
(2) The Service shall decline to undertake a review under section 26 , or shall discontinue such a review, where it forms the opinion that the decision the subject of the application for review— | ||
(a) has already been reviewed by the Service, | ||
(b) is not a credit decision, or | ||
(c) was notified to the borrower— | ||
(i) more than 30 days before the establishment day, or | ||
(ii) in the case of a credit decision made by a person belonging to a class of regulated financial service providers prescribed by regulations under section 2 (2), before the coming into effect of the regulations. | ||
(3) As soon as practicable after forming an opinion referred to in subsection (1) or (2), the Service shall inform the borrower in writing of the opinion and the reasons for it. |