(1) A personal credit rating system verification committee shall be established under a centralized credit information collection agency to perform the following duties:
1. Deliberation on underlying information used for the evaluation of a personal credit rating company and a sole proprietor credit rating company (hereafter in this Article, referred to as "personal credit rating company, etc.");
2. Deliberation on the prediction ability, stability, etc. of the assessment model of a personal credit rating company, etc.;
3. Other matters prescribed by Presidential Decree, which are similar to those provided in subparagraphs 1 and 2.
(2) The Personal Credit Rating System Verification Committee shall be composed of up to seven members, including one chairperson.
(3) The Personal Credit Rating System Verification Committee shall deliberate on the matters referred to in the subparagraphs of paragraph (1), report its results to the Financial Services Commission, as determined and publicly notified by the Financial Services Commission, and inform the relevant personal credit rating company, etc. of the results.
(4) The Financial Services Commission shall disclose the deliberation results reported pursuant to paragraph (3) to the public through its website, etc., as determined and publicly notified by the Financial Services Commission.
(5) The composition and operation of the Personal Credit Rating System Verification Committee under paragraph (1), and the methods, timing, procedures, etc. for the submission of the deliberation results under paragraphs (2) through (4) shall be prescribed by Presidential Decree.[This Article Added on Feb. 4, 2020]