Credit Review Act 2026

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Review of lending practices, activities and policies of relevant persons

30. (1) Upon the request of the Minister, the Service shall conduct a review of the provision of credit facilities to borrowers by relevant persons and the effect of such provision on the availability of credit facilities to borrowers.

(2) As soon as practicable after the completion of a review under subsection (1), the Service shall report to the Minister on the outcome of the review and the report shall include an assessment by the Service as to whether the demand from borrowers for credit is being met.

(3) The Service may request a relevant person to provide such information and documents as it requires for the purposes of a review under subsection (1), including—

(a) annual policies or plans, including targets, in relation to the provision of credit facilities to borrowers by the relevant person,

(b) aggregated data relating to the provision by the relevant person of credit to borrowers during such period as may be specified by the Service, and

(c) commentary by the relevant person on the information referred to in paragraph (b).

(4) A relevant person shall provide information and documents requested under subsection (3) to the Service within such period and in such form and manner as may be specified by the Service.

(5) The Service shall give to the Minister copies of any information and documents provided to the Service by a relevant person in accordance with this section.

(6) The Service may request representatives of a relevant person to attend a meeting with the Service to discuss information and documents provided by the relevant person in accordance with this section.

(7) A relevant person who receives a request made under subsection (6) shall comply with the request.

(8) The Service may invite officers of the Minister to attend a meeting referred to in subsection (6).

(9) In this section, “aggregated data” means data that cannot be related to individual borrowers.