5.1 Where you wish to become a business on Beehive, in addition to the uses set out in section 4 above, we may disclose the personal information we obtain about you to:
- 5.1.1 credit reference agencies who will record information about your application, your business, you and your business partners and how you manage your Beehive financings (for the avoidance of doubt we will not disclose any management account information you supply to us to credit reference agencies);
- 5.1.2 fraud prevention agencies, where it will be recorded by them, and supplied to other organisations to perform similar checks, trace your whereabouts and recover debts you owe;
- 5.1.3 investors who have financed you funds pursuant to a Finance Contract or Murabaha Contract, in order for binding legal obligations to be created between you and those investors,
- 5.1.4 other investors on Beehive in connection with other finance outstanding with Beehive investors;
- 5.1.5 other members of Beehive if required to enforce the terms of any agreement you have entered into;
- 5.1.6 any organisation which provides a centralised matching service which it collects from mortgage and/or credit applications, for the purpose of preventing and detecting fraud; and
- 5.1.7 if you expressly consent, a reputable licensed credit broker in the event that you apply to borrow money using Beehive and your application is declined or the financing monies are otherwise unavailable and we reasonably believe that the credit broker may be able to help you obtain financing.
5.2 To secure Beehive financing you will provide business and personal information to prospective investors on your financing request page. Please be aware that once made available on your profile this information shall be available online to other users of Beehive. We have no control or responsibility for the ways that other members of Beehive may use that information. Both businesses and investors on Beehive acknowledge and agree that in order to enter into a specific Finance Contract or Murabaha Contract it will be necessary for certain information to be shared with the other party. If you are a business, you consent to us disclosing to your investors, your company name and registration details and contact details for the service of notices, and in the case of an investor, you consent to us disclosing to the relevant business, your name and passport number (if you are investing in your personal capacity) or your company name and registration details.
5.3 It may sometimes be necessary for us to share your personal information with other Beehive companies, or Beehive offices to share your information with Beehive in the DIFC. It may also be necessary for us to share your personal information with trusted third parties, who provide services to us or on our behalf. This may entail a transfer of personal information from within the DIFC to recipients outside the DIFC, and vice versa.
5.4 The level of personal information protection in locations outside DIFC may be less than that offered within the DIFC, but we have procedures in place to ensure the protection of personal information. These procedures include putting steps in place to ensure that all such entities keep your personal information confidential and secure and only use it for the purposes that we have specified and communicated to you. In relation to any other third parties we will only disclose your information where you have given your consent or where we are required to do so by law or regolation, or where it is necessary for the purpose of, or in connection with legal proceedings or in order to exercise or defend legal rights.
