LAW OF THE REPUBLIC OF BELARUS

of November 13, 2017 No. 66-Z

About modification and amendments in the Law of the Republic of Belarus "About credit stories"

Accepted by the House of Representatives on October 2, 2017

Approved by Council of the Republic on October 27, 2017

Article 1. Bring in the Law of the Republic of Belarus of November 10, 2008 "About credit stories" (The national register of legal acts of the Republic of Belarus, 2008, No. 275, 2/1538) the following changes and amendments:

1. In word preamble" (further – banks)" shall be replaced with words ", "Development Bank of the Republic of Belarus" open joint stock company (further – banks), the microfinancial, leasing organizations".

2. State Article 1 in the following edition:

"Article 1. The main terms applied in this Law and their determinations

For the purposes of this Law the following main terms and their determinations are applied:

credit deal – the credit agreement, the agreement containing conditions of overdraft crediting, the loan agreement, including the agreement of microloan (further – the loan agreement), the agreement of finance lease (leasing), the agreement of financing under concession of monetary claim (factoring) (further – the agreement of factoring), the agreement providing concession of monetary claim when making factoring transaction, agreements of pledge, guarantee, guarantees, imprisoned (prisoners) with banks, the microfinancial, leasing organizations, National Bank on which the subject of credit history acts as the borrower according to the credit agreement, the agreement containing conditions of overdraft crediting, the borrower according to the loan agreement, the leasing recipient under the agreement of finance lease (leasing), the creditor under the agreement of factoring, the debtor under the agreement of factoring in case of open factoring and also on monetary claims the acquired bank when making factoring transaction (further – the debtor on open factoring or factoring transaction), the pledger under the agreement of pledge, the guarantor under the agreement of guarantee, the guarantor according to the guarantee agreement;

credit history – the data which are stored in National Bank which structure is determined by articles 6 and 7 of this Law and which characterize the subject of credit history and execution by it of the assumed liabilities on credit deals or monetary commitments before factor under the agreement of factoring in case of open factoring or bank which acquires monetary claims when making factoring transaction;

record of credit history – the data which are part of credit history, characterizing one credit deal of the subject of credit history, including execution by it of the assumed liabilities on this credit deal or monetary commitments before factor under the agreement of factoring in case of open factoring or bank which acquires monetary claims when making factoring transaction;

the subject of credit history – the physical persons, including the individual entrepreneur and also which are not bank the legal entity of the Republic of Belarus, including the microfinancial, leasing organizations or the foreign legal entity (further if other is not determined by this Law, – the legal entity), the foreign organization, not being the legal entity on foreign law which conclude (concluded) credit deal with bank, the microfinancial, leasing organizations, National Bank, except for the party at which the bank acquires monetary claims under the agreement providing concession of monetary claim when making factoring transaction or are debtor on open factoring or factoring transaction and concerning which credit history is created;

the user of credit history – physical person or legal entity, the foreign organization, not being the legal entity on foreign law, and also state bodies of the Republic of Belarus (further – state bodies) and the other persons who do not have according to legal acts rights of receipt of the data which are bank secrecy who received the written consent of the subject of credit history to provision of its credit report by National Bank or its consent in electronic form without use of the digital signature in the cases provided by legal acts and made in National Bank inquiry for receipt of the credit report of this subject of credit history;

source of forming of credit history – the banks, the microfinancial, leasing organizations which are the party on credit deal and representing to National Bank of the data, being part of credit history, and also National Bank – on the credit deals concluded with the subject of credit history;

the credit report – the document which contains information created by National Bank based on the data which are part of credit history (including results of mathematical processing of data) and which the National Bank provides to the users of credit stories, subjects of credit stories and other persons having the right to the specified information according to this Law and other legal acts;

debt – the amount of the monetary commitments provided by credit deal which is subject to payment by the subject of credit history.".

3. In the paragraph the second shall be replaced with words parts two of Article 2 of the word "with the workers" "with subjects of credit stories".

4. To add the paragraph of the sixth article 4 after the word of "banks" with words ", control of observance by the microfinancial organizations of the legislation regulating procedure for provision and attraction of microloans, control of compliance with law about leasing activities".

5. State Article 6 in the following edition:

"Article 6. The data which are part of credit history

Credit history joins the following information about the subject of credit history (if those are available):

about physical person – surname, own name, middle name, nationality, floor, identification number, number, month, year of birth, the residence, document type, the foreign citizen proving the identity or stateless persons, its series, number, date of issue, and for the subject of credit history who is the individual entrepreneur – also registration number in the Single state register of legal entities and individual entrepreneurs (further – the state register), accounting number of the payer, its core activity;

about the legal entity and the foreign organization, not being the legal entity on foreign law, – the name, the location, registration number in the state register (for the foreign legal entity and the foreign organization, not being the legal entity on foreign law, – data on their creation (registration) from the document confirming their status), accounting number of the payer, their core activity, and for the legal entities of the Republic of Belarus who resulted from reorganization of one or several legal entities – also the name, registration number in the state register and accounting number of the payer reorganized (reorganized) legal (legal) persons (persons) form and date of reorganization.

Concerning obligations of the subject of credit history (for each record of credit history) credit history joins the following data (if those are available):

about the credit agreement – number and date of the conclusion of the agreement, the amount and the name of loan currency (when opening credit line – the extreme size of one-time debt of the borrower), the loan granting term (term of renewability of credit line), term of return (repayment) of the credit, method of ensuring obligation fulfillment under the agreement; data on outstanding amount on the credit, the amounts of overdue payments on return (repayment) of the credit, interest payment and payment for use of the credit, and also date to which there correspond these data; date of termination of the contract; information about group (groups) of risk by which the bank classified asset and (or) the obligation of bank subject to credit risk which is not reflected in balance sheet accounts, including the obligation of bank to provide money on returnable basis, the obligation of bank to make payments according to warranty obligations and other obligations (further – contingent obligation), or their part according to requirements of the legislation on forming and use of special reserves of covering of possible losses for the assets and transactions which are not reflected in balance, data on write-off of outstanding amount at the expense of special reserve on covering of possible losses on the assets and transactions which are not reflected in balance and also dates to which there correspond these data;

about the agreement containing conditions of overdraft crediting – number and date of the conclusion of the agreement, overdraft limit, the name of loan currency, date of establishment of overdraft limit, term of renewability of credit line, term of return (repayment) of the credit, method of ensuring obligation fulfillment under the agreement; data on outstanding amount on the credit, the amounts of overdue payments on return (repayment) of the credit, interest payment and payment for use of the credit, and also date to which there correspond these data; date of termination of the contract; information about group (groups) of risk by which the bank classified asset and (or) contingent obligation or their part according to requirements of the legislation on forming and use of special reserves of covering of possible losses for the assets and transactions which are not reflected in balance, data on write-off of outstanding amount at the expense of special reserve on covering of possible losses on the assets and transactions which are not reflected in balance and also dates to which there correspond these data;

about the loan agreement – number and date of the conclusion of the agreement, the amount, the name of currency and term of loan repayment, method of ensuring obligation fulfillment under the agreement; data on outstanding amount on loan, the amounts of overdue payments on loan repayment, interest payment for use of it, and also dates to which there correspond these data; date of termination of the contract;

about the agreement of pledge – number and date of the conclusion of the agreement, pledge type, pledge subject cost, completion date of the obligation provided with pledge; data on the amount and the name of currency of requirements of the pawnbroker imposed to the pledger, the amount of the satisfaction which is had by the pawnbroker from the cost of pledged property, and also date to which there correspond these data; date of the termination of pledge;

about the agreement of guarantee – number and date of the conclusion of the agreement, term for which the guarantee, the amount and the name of currency of the obligation which execution is provided with the guarantor is provided; data on the amount and the name of currency of requirements of source of forming of credit history imposed to the guarantor, the amount paid by the guarantor and also dates to which there correspond these data; date of the termination of guarantee; if the guarantee is provided in ensuring obligation fulfillment on credit deal, – the information about the subject of credit history in which ensuring obligation fulfillment the guarantee, data on credit deal which are part of credit history is provided in ensuring obligation fulfillment on which the guarantee is provided;

about the guarantee agreement – number and date of the conclusion of the agreement, term for which the guarantee, the amount and the name of currency of the obligation which execution is provided with the guarantee, vicarious liability is this (solidary or subsidiary); data on the amount and the name of currency of requirements of source of forming of credit history imposed to the guarantor, the amount paid by the guarantor and also dates to which there correspond these data; date of the termination of the guarantee; if it is guaranteed in ensuring obligation fulfillment on credit deal, – the information about the subject of credit history in which ensuring obligation fulfillment it is guaranteed, the data on credit deal which are part of credit history in ensuring obligation fulfillment on which it is guaranteed;

about the agreement of finance lease (leasing) – number and date of the conclusion of the agreement, the name of currency of obligations, availability in the agreement of condition on execution by the leasing recipient of monetary commitments in Belarusian rubles in the amount equivalent to certain amount in foreign currency, availability in the agreement of condition on the redemption of subject of leasing, the agreement price including set of the leasing payments provided by the agreement and redemption value of subject of leasing, redemption value of subject of leasing (if the agreement provides condition about the redemption of subject of leasing), leasing subject cost, term of temporary ownership and use of leasing subject, method of ensuring obligation fulfillment under the agreement; data on outstanding amount on payment of leasing payments and redemption value of subject of leasing, the amounts of overdue leasing payments and the redemption value, and also date which is not paid at the scheduled time to which there correspond these data; date of termination of the contract; the information about group (groups) of risk by which the bank classified asset and (or) contingent obligation or their part according to requirements of the legislation on forming and use of special reserves of covering of possible losses for the assets and transactions which are not reflected in balance, data on write-off of outstanding amount at the expense of special reserve on covering of possible losses on the assets and transactions which are not reflected in balance and also dates to which there correspond these data;

about the agreement of factoring in credit history of the creditor – number and date of the conclusion of the agreement, the amount and the name of currency of the provided money (in case of the conclusion of the agreement on number of monetary commitments – the extreme size of one-timely provided money), data on the notification of the debtor on transition of the rights of the creditor to factor (the open or hidden factoring), availability of the right of the return requirement (regress) to the creditor, term of return of the provided money, method of ensuring obligation fulfillment under the agreement; data on outstanding amount according to the monetary commitments which are subject to payment to factor in case of the hidden factoring, the amounts of overdue payments according to the monetary commitments which are subject to payment to factor in case of the hidden factoring, payment of remuneration in case of the hidden factoring and also dates to which there correspond these data; data on outstanding amount on the monetary claims imposed to the creditor about compensation under contracts with the right of the return requirement (regress), the amount of overdue payments on payment by the creditor of monetary claims about compensation under contracts with the right of the return requirement (regress), and also date to which there correspond these data; date of termination of the contract; the information about group (groups) of risk by which the bank classified asset and (or) contingent obligation or their part according to requirements of the legislation on forming and use of special reserves of covering of possible losses for the assets and transactions which are not reflected in balance, data on write-off of outstanding amount at the expense of special reserve on covering of possible losses on the assets and transactions which are not reflected in balance and also dates to which there correspond these data (for the hidden factoring);

about the agreement of factoring in case of open factoring in credit history of the debtor – number and date of the conclusion of the agreement, the amount and the name of currency of the monetary claim yielded to factor (in case of the conclusion of the agreement on number of monetary commitments – the extreme size of one-timely yielded requirements), availability of the right of the return requirement (regress) to the creditor, completion date by the debtor of the monetary claim yielded to factor; data on outstanding amount on the monetary claim yielded to factor, the amount of overdue payments on the monetary claim yielded to factor, and also dates to which there correspond these data; date of termination of the contract; information about group (groups) of risk by which the bank classified asset and (or) contingent obligation or their part according to requirements of the legislation on forming and use of special reserves of covering of possible losses for the assets and transactions which are not reflected in balance, data on write-off of outstanding amount at the expense of special reserve on covering of possible losses on the assets and transactions which are not reflected in balance and also dates to which there correspond these data;

about the agreement providing concession of monetary claim when making factoring transaction in credit history of the debtor – number and date of the conclusion of the agreement, the amount and the name of currency of the monetary claim yielded to bank (in case of the conclusion of the agreement on number of monetary commitments – the extreme size of one-timely yielded requirements), availability of the right of the return requirement (regress) to the creditor, completion date by the debtor of the monetary claim yielded to bank; data on outstanding amount on the monetary claim yielded to bank, the amount of overdue payments on the monetary claim yielded to bank, and also dates to which there correspond these data; date of termination of the contract; information about group (groups) of risk by which the bank classified asset and (or) contingent obligation or their part according to requirements of the legislation on forming and use of special reserves of covering of possible losses for the assets and transactions which are not reflected in balance, data on write-off of outstanding amount at the expense of special reserve on covering of possible losses on the assets and transactions which are not reflected in balance and also dates to which there correspond these data.

Credit history joins information on all changes which are its scope of information.

Credit history of the legal entity of the Republic of Belarus reorganized in the form of accession or who again resulted from reorganization joins records of credit stories of the reorganized legal entities who stopped the activities.".

6. The fourth articles 8 after the word "refusal" to add part with words "National Bank and in case at the request of National Bank it was performed by source of forming of credit history, – refusal of source of forming of credit history".

7. To exclude from part one of Article 10 of the word "with subjects of credit stories".

8. In Article 12:

"this Law" to add part one after words with words ", without written consent this physical person";

from part two the second offer to exclude.

9. Third of article 13 after the word "consent" to add part with the words "or consent in electronic form without use of the digital signature in the cases provided by legal acts".

10. State Article 14 in the following edition:

"Article 14. Restrictions on provision of the data which are part of credit history

In the credit report provided to the user of credit history, the data which are part of credit history, specified in article 7 of this Law, except for to information on requests of users of credit history are not reflected. In credit reports of the guarantor, guarantor of the information about subjects of credit stories in which ensuring obligation fulfillment it is guaranteed the guarantee is provided, are not reflected.".

Article 2. To National Bank of the Republic of Belarus in nine-months time:

provide reduction of acts of the legislation in compliance with this Law;

take other measures for realization of provisions of this Law.

Article 3. This Law becomes effective in the following procedure:

Items 1-5, 7 and 10 of Article 1 – in nine months after official publication of this Law;

other provisions – after official publication of this Law.

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