A question regarding the UK Data Protection Act?

Can someone who is fully conversant with the UK Data Protection Act tell me whether I am correct in the following belief: That if I inform a company or organisation that holds personal data about me that the data they hold is inaccurate, provide them with the correct information and ask them to change their... show more Can someone who is fully conversant with the UK Data Protection Act tell me whether I am correct in the following belief:

That if I inform a company or organisation that holds personal data about me that the data they hold is inaccurate, provide them with the correct information and ask them to change their data, that the Data Protection Act says they must do it.

Second, that if they fail to do it, continue to act upon the incorrect data and I suffer as a result, this is a breach of the Data Protection Act and I could prosecute them for this breach.

Or have I got it completely wrong?
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