Subjective classifications of 4. Adverse classifications of behaviour of a data subject as 1 year consumer behaviour consumer Classifications related to 5. Adverse classifications of enforcement action taken by the 2 enforcement action credit provider The earlier of 5 years or until the Civil court judgments including judgment is rescinded by a court 6. Civil court judgments default judgments or abandoned by the credit provider The earlier of 10 years or until 7. Administration orders As per court order order is rescinded by a court The earlier of 10 or until 8. Sequestrations As per court order rehabilitation order is granted 9. Liquidations As per court order Unlimited period 10. Rehabilitation order As per court order 5 years Factual information other than unfavourable credit information, 11. Favourable credit regarding all credit facilities Unlimited period performance information made available by a credit provider to a data subject, and includes timely payments of loan Any other information not 12. Other information 2 included in any category above Disposal of information 32. (1) Where a credit bureau terminates business and surrenders its licence due to bankruptcy or liquidation, the data provided to the credit bureau by credit performance information providers and sources stored in the database of the credit bureau is surrendered to the Bank without any compensation. (2) The Bank may make information in the database mentioned in subregulation (1) available to another credit bureau. Indemnification 33. (1) The Bank or an employee or representative of the Bank or any person performing a function or exercising the power in terms of these regulations, is not liable for damage caused by any action taken or report presented in good faith to further the objects of these regulations, unless the damage is attributable to the gross negligence of the Bank employee, representative of the Bank or such person. (2) A credit performance information provider must indemnify a credit bureau for any type of action or damage awards that may result from inaccurate credit performance information reported to it, if the credit bureau takes all reasonable measures to ensure the information is correct when processed by the credit bureau. Non-compliance notice 34. (1) The Bank may issue a non-compliance notice in the form determined by the Bank to -
4. Adverse classifications of consumer behaviour Subjective classifications of behaviour of a data subject as consumer 1 year 5. Adverse classifications of enforcement action Classifications related to enforcement action taken by the credit provider 2 6. Civil court judgments Civil court judgments including default judgments The earlier of 5 years or until the judgment is rescinded by a court or abandoned by the credit provider 7. Administration orders As per court order The earlier of 10 years or until order is rescinded by a court 8. Sequestrations As per court order The earlier of 10 or until rehabilitation order is granted 9. Liquidations As per court order Unlimited period 10. Rehabilitation order As per court order 5 years 11. Favourable credit performance information Factual information other than unfavourable credit information, regarding all credit facilities made available by a credit provider to a data subject, and includes timely payments of loan Unlimited period 12. Other information Any other information not included in any category above 2 Disposal of information 32. (1) Where a credit bureau terminates business and surrenders its licence due to bankruptcy or liquidation, the data provided to the credit bureau by credit performance information providers and sources stored in the database of the credit bureau is surrendered to the Bank without any compensation. (2) The Bank may make information in the database mentioned in subregulation (1) available to another credit bureau. Indemnification 33. (1) The Bank or an employee or representative of the Bank or any person performing a function or exercising the power in terms of these regulations, is not liable for damage caused by any action taken or report presented in good faith to further the objects of these regulations, unless the damage is attributable to the gross negligence of the Bank employee, representative of the Bank or such person. (2) A credit performance information provider must indemnify a credit bureau for any type of action or damage awards that may result from inaccurate credit performance information reported to it, if the credit bureau takes all reasonable measures to ensure the information is correct when processed by the credit bureau. Non-compliance notice 34. (1) The Bank may issue a non-compliance notice in the form determined by the Bank to -
Bank%20of%20Namibia%20Act%2015%20of%201997%20-%20Regulations%202014-103%20(annotated).docx