The Credit Reporting Act 2013 (together with related statutory instruments) provides for the establishment of a Central Credit Register.

The Central Credit Register (CCR) is a national database of credit information maintained and operated by the Central Bank of Ireland (CBI). It will be mandatory for certain lenders (“credit information providers”) to report information to the CBI and to make credit checks against certain borrowers (“credit information subjects”).

On 30 September 2018, the reporting and checking obligations under the Act will commence for lenders who provide credit to non-consumers. This may include lenders which are “section 110” companies1 used as loan origination platforms or on CLOs (section 110 lenders). We outline below some key information for such section 110 lenders.