of April 22, 2020 No. 51
About modification of some legal acts of the Kyrgyz Republic (in the laws of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity", "About innovative activities", "About licensed authorization system in the Kyrgyz Republic")
Accepted by Jogorku Kenesh of the Kyrgyz Republic on April 1, 2020
Bring in the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2016, No. 11, the Art. 1183) the following changes:
Item 7 of Article 17 to state 1) in the following edition:
"7) performs issue of allowing documents, including within the special regulating modes, according to this Law and the laws of the Kyrgyz Republic;";
The Law to add 2) with Chapter 11-1 of the following content:
"Chapter 11-1. Special regulating modes
Article 53-1. Temporary regulation within the special regulating modes
1. For the purpose of approbation of legal regulation of the public relations in the field of provision of the banking, payment services connected with implementation of innovative services / technologies, the National Bank has the right to establish for certain term on separate or in all territory of the Kyrgyz Republic pilot regulation within the special regulating mode.
For the purpose of this Law the special regulating mode is understood as set of rules which allow the participants who are engaged in implementation of innovative services / technologies in the market of banking and payment services to approve them in the limited controlled circle (on the territory, in time, by quantity and amount of transactions and users and other).
The procedure for introduction of pilot regulation within the special regulating mode and carrying out monitoring of its realization is determined by implementation of innovative services / technologies by National Bank.
2. The National Bank establishes requirements to activities of the banks, non-bank financial credit institutions and other legal entities participating in the special regulating mode.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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