LAW OF THE KYRGYZ REPUBLIC

of July 22, 2020 No. 85

About modification of some legal acts of the Kyrgyz Republic (in the laws of the Kyrgyz Republic "About exchange of credit information", "About National Bank of the Kyrgyz Republic, banks and banking activity")

Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 10, 2020

Article 1.

Bring in the Law of the Kyrgyz Republic "About exchange of credit information" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2014, No. 10, the Art. 826) the following changes:

Article 3 to add 1) with paragraphs of the following content:

"positive credit information - information on the subject of credit information containing data on proper execution by the subject of credit information of obligations under the signed agreements;

negative credit information - information on the subject of credit information containing data on non-execution of contractual commitments (overdue debt) over ninety calendar days and (or) other obligatory payments. Data on non-execution of contractual commitments and (or) other obligatory payments do not join in negative credit information if non-execution of obligations happened during emergency situation and (or) emergency state.";

2) in Article 5:

a) regarding 4 words of "seven years" shall be replaced with words "five years for negative credit information and seven years for positive credit information";

b) add Article with part 5 of the following content:

"5. The credit information provided by the supplier of credit information (legal entity) who in subsequent was liquidated is stored within five years from the date of the last change of information containing in credit history.";

Item 7 of part 1 of Article 14 to state 3) in the following edition:

"7) to provide storage of credit information:

- positive credit information within seven years;

- negative credit information within five years;

- credit information of the liquidated supplier of credit information during the term established by part 5 of article 5 of this Law;";

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