(1) Where the Bank receives an application from a credit information provider or credit information subject to amend information held on the Register on the ground that it is inaccurate, incomplete or not up to date, the Bank -

(a) shall take all such steps, including giving notice requiring the provision of information from any credit information provider or credit information subject, as are reasonable to enable the Bank to decide whether to amend the information, and

(b) where it decides that the information should be amended, shall do so.

(2) An application under subsection (1) shall be in writing and accompanied by information supporting the application.

(3) Where the Bank requires a credit information provider or credit information subject to provide information under subsection (1)(a), the requirement shall be complied with within 15 days of the date on which the notice is received.