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LAW OF THE KYRGYZ REPUBLIC

of August 13, 2004 No. 119

About post and savings system

Accepted by General Court of Jogorku Kenesh of the Kyrgyz Republic on June 23, 2004

This Law establishes the legal basis of activities of post and savings system of the Kyrgyz Republic, determines its basic principles, the purposes, tasks and functions, field of activity, structure, responsibility for providing and implementation of the purposes and tasks assigned to post and savings system of the Kyrgyz Republic.

Article 1. The terms and determinations used in this Law

post and savings system - the system based on contractual relations of the companies of mail service, financial credit institutes and other organizations for different rendering services to physical persons and legal entities of all patterns of ownership;

payment system - the interconnected system of technologies, procedures and payment instruments intended for implementation of clearing settlements between financial credit institutes being members of payment service provider;

participants of post and savings system - the companies of mail service, financial credit institutes and other organizations performing activities through network of post and savings system on contractual basis;

services of mail service - service in acceptance, processing, transportation, delivery and delivery of mailings (written correspondence, sending, parcels post, periodicals), and also other post contractual services;

post and savings, post banking services - the services rendered by financial credit institutes on contractual conditions in banking operations through network of post and savings system;

commercial services - services of network of post and savings system in various trade and intermediary transactions on commercial basis which are not contradicting the legislation of the Kyrgyz Republic.

Article 2. Legislation of the Kyrgyz Republic on post and savings system
Article 3. Field of activity of post and savings system

The field of activity of the post and savings system performing wide range post, post and savings, post and bank and others, not forbidden legislation of the Kyrgyz Republic, non-commercial and commercial services on licensed or contractual basis includes rendering services to the government and non-state institutions, physical persons and legal entities, irrespective of patterns of ownership.

Article 4. Main objectives and principles of activities of post and savings system

Main objective of post and savings system of the Kyrgyz Republic is creation of the single branched and reliable infrastructure capable to provide the most available and effective rendering post, post and savings, post and bank and other services in the territory of the Kyrgyz Republic.

Activities of post and savings system are performed on the following basic principles:

- compliance to precepts of law of the Kyrgyz Republic;

- open entry of the population of the republic to wide range of post, post and savings, post and bank and other commercial and non-commercial services in the territory of all republic;

- the choice of participants on competitive basis, on mutually advantageous conditions;

- quality assurance and reliability of services;

- maintaining confidentiality;

- providing rights and consumer interests of services;

- creations of the maximum conditions for use of opportunities of infrastructure of post and savings system all interested non-commercial and commercial structures.

Article 5. Main objectives of post and savings system

The main objectives of post and savings system of the Kyrgyz Republic are:

- providing state bodies, organizations and organizations, physical persons and legal entities of all patterns of ownership with high-quality services of mail service within the legislation of the Kyrgyz Republic;

- ensuring access of the population to information in the territory of the republic;

- providing the population of the Kyrgyz Republic in all regions wide range post and savings and post banking services, according to the procedure, established by the legislation of the Kyrgyz Republic;

- accumulation of free money of the population and legal entities;

- ensuring acceptance from the population of all payment types through network of post and savings system;

- ensuring gradual transition of implementation of payments on clearing settlement in all territory of the republic;

- rendering to the population the commercial and non-commercial services which are not forbidden by the legislation of the Kyrgyz Republic.

Article 6. Structure of post and savings system

The structure of post and savings system of the Kyrgyz Republic represents network of the companies of mail service, financial credit institutes and other organizations, being members of payment service provider, performing the purposes and tasks of post and savings system on contractual basis.

Article 7. Powers of the Government of the Kyrgyz Republic

The government of the Kyrgyz Republic performs:

- carrying out state policy in the field of forming of single post and savings system;

- the state support in creation of necessary conditions for realization of post and savings system, including on upgrade and development of its infrastructure;

- rendering assistance for investment attraction in post and savings system on its development;

- control of the course of use of the investments involved in post and savings system and the funds allocated as the state support.

Article 8. Powers of National Bank of the Kyrgyz Republic

The National Bank of the Kyrgyz Republic performs the powers concerning financial credit institutes as participants of post and savings system according to the laws of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", "About banks and banking activity in the Kyrgyz Republic", this Law and other regulatory legal acts of the Kyrgyz Republic regulating activities of financial credit institutes.

Article 9. Powers of state bodies in the field of mail service of the Kyrgyz Republic

Functions and powers concerning the companies of mail service according to the laws of the Kyrgyz Republic "About electric and mail service" and "About mail service", this Law and other regulatory legal acts regulating their activities as participants of post and savings system of the Kyrgyz Republic perform the state bodies authorized on that.

Article 10. Differentiation of responsibility and independence of participants of post and savings system

1. Participants of post and savings system do not answer for obligations the Kyrgyz Republic, as well as the Kyrgyz Republic does not answer for obligations participants of post and savings system, except as specified, when the state itself assumed liabilities of participants of post and savings system.

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