LAW OF THE KYRGYZ REPUBLIC

of March 1, 2017 No. 38

About modification of some legal acts of the Kyrgyz Republic (in the Law of the Kyrgyz Republic "About payment system of the Kyrgyz Republic", the Code of the Kyrgyz Republic about the administrative responsibility)

Accepted by Jogorku Kenesh of the Kyrgyz Republic on January 19, 2017

Article 1. Bring in the Law of the Kyrgyz Republic "About payment system of the Kyrgyz Republic" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2015, No. 1, the Art. 21) the following changes:

1) in Article 1:

a) regarding 2 words" and also to exclude the relations arising when carrying out payments, calculations and money transfers through departments of mail service";

b) add Article with part 3 following of content:

"3. Operation of this Law does not extend to the activities for operation of communication networks and provision of services of electric and mail service in the Kyrgyz Republic regulated by the law in the field of electric and mail service. In case of implementation of payments for the goods/services which are not relating to communication services, operations are performed directly through payment systems according to the procedure, established by this Law.";

2) in Article 2:

a) add Article with paragraph one of the following content:

"The acceptor of electronic money (acceptor) - the legal entity, and also the individual entrepreneur who according to the signed contract with emitting bank of electronic money or the agent accepts electronic money for payment of goods or services with provision of the documents confirming making of transactions with electronic money.";

b) to state the paragraph of the sixth in the following edition:

"The operator of payment system - the legal entity having license/registration of Bank of Kyrgyzstan depending on type and category of payment system, providing functioning of payment system and who signed with participants the contribution agreement in payment system according to which the operator and members of payment service provider shall perform the activities within payment system according to this Law and regulatory legal acts of Bank of Kyrgyzstan.";

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