Credit Reporting Act, 2007 (Act 726)
Section 6: (1) The Bank shall not grant a licence to a person to carry on the business of a credit bureau unless the person(a) is incorporated as a company under the Companies Code 1963 (Act 179) solely to carry out credit bureau activities,(b) has human, financial and operational resources to enable it function efficiently and perform its functions effectively in accordance with this Act,(c) presents a business plan that is satisfactory to the Bank,(d) presents plans to adopt mechanisms to gather input, integrate, update, validate and provide security for data to the Bank,(e) presents a credible plan to develop and adopt procedures to ensure that(i) questions, concerns and complaints of credit information subjects, or(ii) data providers are treated equitably and consistently in a timely and efficient manner. (2) The Bank shall not grant a licence to carry on the business of a credit bureau if a person who has ten percent or more of the voting rights of the applicant is(a) a financial institution as defined in this Act,(b) a debt collection agency, or(c) a person who conducts disqualified business.(3) The Bank of Ghana may by regulation declare a business activity disqualified if the business activity is inconsistent with the function of operating an . independent credit bureau.