The debt collectors in both instances were taken to task and convicted under existing laws.
The Bill will regulate the industry, targeting in particular entities that collect debt from a debtor either on behalf of another person, or where the businesses themselves had acquired the debt, and their debt collectors.Under the regime, all such debt collection businesses, including their key appointment holders and the debt collectors, will be screened by the police and must be assessed to be"fit and proper" before they are granted a licence or an approval.
Several MPs had asked for clarification on what the screening process was and the parameters of what would be deemed"fit and proper".
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