Electronic Transactions Act, 2008
Act 772
(2) Subsection (1) does not prevent
(a) the holder of the electronic payment medium from being
made liable for loss to the issuer arising from use of the
medium by another person during a period beginning when
the medium ceases to be in the possession of an authorised
person and ending when the medium is once more in the
possession of an authorised person, or
(b) the holder from being made liable to any extent for loss to
the issuer from use of the medium by a person who acquired
possession of it with the holder’s consent.
(3) Subsections (2) does not apply to the use of the electronic payment medium after the issuer has been given notice of loss and does not
apply unless the issuer provides the holder with particulars of the name, address and telephone number of a person stated to be the person to whom
notice is to be given.
(4) The notice takes effect when received, but where it is given orally,
shall be confirmed in writing within fourteen clear days.
(5) A sum paid by the holder for the issue of the electronic payment medium is treated as paid towards satisfaction of liability under this
section to the extent that it has not been previously offset by use made of
the medium.
(6) The holder or a person authorised by the holder to use the
electronic payment medium is an authorised person for the purpose of
subsection (2).
Electronic payment medium lists prohibited
52. (1) A financial institution shall not
(a) make available,
(b) lend, or
(c) sell
any list or portion of a list of holders of an electronic payment medium
and their addresses and account numbers to any person without the prior
written consent of the holders except by order of a Court.
(2) A financial institution may make available to another financial
institution information about an electronic payment medium holder’s
credit rating without the holder’s prior written consent if written notice
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