The Insolvency and Bankruptcy Code, 2016
IBBI (Information Utilities) Regulations, 2017
Chapter VI – Duties of Information Utilities
Regulation 30: Other duties.
30. (1) An information utility shall-
(a) provide services to a user based on its explicit consent;
(b) guarantee protection of the rights of users;
(c) establish adequate procedures and facilities to ensure that its records are protected against loss or destruction;
(d) adopt secure systems for information flows;
(e) protect its data processing systems against unauthorised access, alteration, destruction, disclosure or dissemination of information; and
(f) transfer all the information submitted by a user, and stored with it to another information utility on the request of the user.
(2) An information utility shall not-
(a) outsource the provision of core services to a third-party service provider;
(b) use the information stored with it for any purpose other than providing services under these Regulations, without the prior approval of the Board;
(c) seek data or details of users except as required for the provision of the services under these Regulations.
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