of September 2, 2021 No. 105
About modification of the Civil code of the Kyrgyz Republic
Accepted by Jogorku Kenesh of the Kyrgyz Republic on July 22, 2021
Bring in part I of the Civil code of the Kyrgyz Republic (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 1996, No. 6, the Art. 80) the following change:
third Item 1 of Article 1 to state the paragraph in the following edition:
"Features of the relations in the field of the Islamic principles of banking and financing are regulated by regulatory legal acts of the Kyrgyz Republic. In the field of the Islamic principles of banking and financing this Code is applied to the relations in the part which is not settled by regulatory legal acts of the Kyrgyz Republic.".
Bring in part II of the Civil code of the Kyrgyz Republic (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 1998, No. 6, the Art. 226) the following changes:
Article 724 to add 1) with Items 3-6 of the following content:
"3. Activities for provision of loans in cash are recognized professional in case of compliance to one of the following conditions:
- advertizing (public offer) of offers on provision of loans to the uncertain group of people;
- provision of loans on systematic basis (two and more times) within one month (thirty days);
- provision of loans is the main or single type of activity of legal person / the individual entrepreneur, physical person.
4. Are not professional activity on provision of loans:
- provision of loans by the employer to the worker;
- provision of loans to the physical persons which are founders (participants) or affiliates of the commercial organization which performs professional activity on provision of money on the terms of the paid nature, urgency and recoverability;
- provision of loans by the broker to the client for transactions of purchase and sale of securities;
- other cases provided by the law.
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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