| (1) | The Minister may, at any time prescribe— |
| (a) | the nature of, time-frame, form and manner in which consumer credit information held by credit bureaux must be reviewed, verified, corrected or removed; |
| (aA) | the manner in which a registered auditor may confirm that the consumer credit information referred to in paragraph (a) has been reviewed, verified, corrected or removed; and |
| (b) | the time-frame and schedule for the exercise by consumers of their rights in terms of section 72(1). |
[Subsection (1) substituted by section 23 of Act No. 19 of 2014]
| (2) | When prescribing a matter contemplated in subsection (1), the Minister must— |
| (a) | consider amongst other things— |
| (i) | the predictive nature of such information; and |
| (ii) | the socio-economic impact on consumers of the removal of such information; and |
| (b) | engage in consultation with affected stakeholders. |
| (3) | Any regulations to be made in terms of this section must be submitted to the relevant Parliamentary Committee for the necessary consultation prior to their promulgation. |
