The objects and reasons of this Bill are to establish the Credit Review Office with the power to review decisions issued by lending institutions refusing applications made by eligible applicants for credit facilities, or withdrawing or reducing existing credit facilities, or refusing applications requesting restructuring of existing credit facilities. The Bill requires each lending institution to draw up a charter providing guidance on credit application processes and timelines, complaint handling mechanisms, and information on the remedy available to have refusals reviewed by the credit reviewer. Where a lending institution fails to establish such a charter, the default charter found in the Schedule shall apply. The Credit Review Office is intended to provide a structured review through mediation and provides formal non-binding recommendations provided where mediation proves unsuccessful, ensuring complaints are dealt with in a procedurally fair, informal, economical and expeditious manner, whilst maintaining strict confidentiality and privacy of all proceedings between the parties.