LAW OF THE KYRGYZ REPUBLIC

of March 29, 2023 No. 74

About introduction of amendments to the Law of the Kyrgyz Republic "About exchange of credit information"

Accepted by Jogorku Kenesh of the Kyrgyz Republic on February 15, 2023

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:

1) regarding the 2nd Article 12:

a) state Item 7 in the following edition:

"7) establishes qualification requirements to the head and officials of credit bureau whose list is determined by authorized body, and also to persons wishing to acquire in total 10 and more percent of shares of credit bureau;";

b) add Article with Items 9 and 10 of the following content:

"9) establishes requirements to the authorized capital of credit bureau;

10) is determined by procedure for share acquisition of credit bureau, exceeding 10 and more percent of shares of credit bureau.";

2) in Article 14:

a) to add Item 7 of part 1 with the paragraph the fifth the following content:

"-credit information on non-execution of contractual commitments (overdue debt) and (or) other obligatory payments owing to emergency situation and (or) emergency state within three years;";

b) add Article with part of 4-1 following content:

"4-1. The credit bureau shall place the information systems providing collection, storage, processing and exchange of credit information in the territory of the Kyrgyz Republic.";

3) regarding the 2nd Article 16:

a) shall be replaced with words the words "at least in one credit bureau having the license of authorized state body and included in the State register of credit bureaus" "in the existing credit bureaus having the license of authorized state body and included in the State register of credit bureaus";

b) add part with the paragraph of the following content:

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info