Document from CIS Legislation database © 2003-2017 SojuzPravoInform LLC

LAW OF THE REPUBLIC OF KAZAKHSTAN

of May 6, 2017 No. 62-VI ZRK

About collection activities

This Law governs the public relations connected with implementation of collection activities, establishes features of creation, activities of the collection agencies, and also determines features of state regulation of the collection agencies, control of their activities.

Chapter 1. General provisions

Article 1. The basic concepts used in this Law

In this Law the following basic concepts are used:

1) debt on the agreement of the bank loan or the agreement on provision of the microcredit (further - debt) - obligations of the debtor to the creditor on payment of the principal debt, remuneration, the commissions, penalties (the penalty, the penalty fee) under the agreement of the bank loan or the agreement on provision of the microcredit;

2) the debtor - the physical person or legal entity which allowed non-execution or improper execution of agreement obligations of the bank loan or to the agreement on provision of the microcredit;

3) accounting registration - inclusion of the legal entity having intention to perform collection activities, in the register of the collection agencies;

4) the collection agency - the legal entity, being the commercial organization, included in the register of the collection agencies;

5) the register of the collection agencies - the single list of the collection agencies of authorized body in the field of collection activities;

6) collection activities - the activities of the collection agency directed to pre-judicial collection and settlement of the debt, and also to information collection connected with debt;

7) authorized body in the field of collection activities (further - authorized body) - National Bank of the Republic of Kazakhstan;

8) the creditor - bank of the second level, the organization performing separate types of banking activities, or the microfinancial institution having the right to claim against the debtor on debt.

Article 2. Legislation of the Republic of Kazakhstan on collection activities

1. The legislation of the Republic of Kazakhstan on collection activities is based on the Constitution of the Republic of Kazakhstan, consists of the Civil code of the Republic of Kazakhstan, this Law and other regulatory legal acts of the Republic of Kazakhstan.

2. Operation of the laws of the Republic of Kazakhstan "About economic partnerships" and "About partnerships with the limited and accessorial liability" extends to the collection agencies in the part which is not settled by this Law.

3. If the international treaty ratified by the Republic of Kazakhstan establishes other rules, than those which contain in this Law then are applied rules of the international treaty.

Chapter 2. Creation and activities of the collection agency

Article 3. Collection agency

1. The collection agency is created in the form of business of the economic partnership.

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