of July 18, 2019 No. 89
About modification of some legal acts of the Kyrgyz Republic (in the laws of the Kyrgyz Republic "About pledge", "About licensed authorization system in the Kyrgyz Republic")
Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 12, 2019
Bring in the Law of the Kyrgyz Republic "About pledge" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2005, No. 6, the Art. 377) the following changes:
1) in Article 6:
a) in Items 1 and 2 of the word "specialized financial credit institutes" and "specialized credit institutes" shall be replaced with words "non-bank financial credit institutions";
b) in Item 3 to replace the word "specialized" with the word "non-bank";
Article 43 to state 2) in the following edition:
"Article 43. Housing and savings credit companies
1. The housing and savings credit company is non-bank financial credit institution which activities are directed to accumulation of money of investors in housing savings deposits and provision to her investors of the credits for individual construction, purchase of apartment houses (apartments) or for improvement of housing conditions within the state housing programmes.
2. The housing and savings credit company is the commercial organization created in the form of joint-stock company and receives the status of the legal entity from the date of state registration according to the legislation of the Kyrgyz Republic.
3. The housing and savings credit company to start implementation of activities shall obtain the license of National Bank of the Kyrgyz Republic for the right of carrying out separate banking activities according to requirements of National Bank of the Kyrgyz Republic.
4. The housing and savings credit company has the right to perform the following banking activities taking into account the restrictions set by National Bank of the Kyrgyz Republic and provided that such transactions are specified in the license:
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