of August 24, 2016 No. 35/5
About approval of the Provision "About Licensing of Activities of Credit Bureaus"
According to articles 7 and 43 of the Law "About National Bank of the Kyrgyz Republic" and article 12 of the Law of the Kyrgyz Republic "About exchange of credit information" the Board of National Bank of the Kyrgyz Republic decides:
1. Approve the Provision "About Licensing of Activities of Credit Bureaus" it (is applied).
2. Ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 08.06.2017 No. 2017-P-12/23-4-(NPA)
3. To legal management:
- publish this resolution on the official site of National Bank of the Kyrgyz Republic;
- after official publication to send this resolution to the Ministry of Justice of the Kyrgyz Republic for entering into the State register of regulatory legal acts of the Kyrgyz Republic.
5. To management of methodology of supervision and licensing to bring this resolution to the attention of the relevant structural divisions of National Bank of the Kyrgyz Republic and the operating credit bureaus of the Kyrgyz Republic.
6. The operating credit bureau of the Kyrgyz Republic within six months from coming into force of this resolution to obtain the license in accordance with the established procedure.
7. To impose control of execution of this resolution on the board member of National Bank Dzhusupov T.Dzh.
to the Resolution of Board of National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/5
1. This Provision is developed according to the laws of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", "About exchange of credit information", "About licensed authorization system in the Kyrgyz Republic", "About bank secrecy", "About state registration of legal entities, branches (representations)" and other regulatory legal acts of the Kyrgyz Republic and determines procedure for licensing of activities of credit bureaus.
2. Credit bureau is the legal entity registered in the procedure established by the legislation as the commercial organization and rendering services in implementation of exchange of credit information.
3. Activities of credit bureau are performed based on the license granted by National Bank of the Kyrgyz Republic (further - National Bank).
4. The name of credit bureau shall contain the phrase "credit bureau". The legal entity who is not meeting the requirements of the Law "About Exchange of Credit Information" having no right to use the phrase "credit bureau" in the name.
5. The credit bureau has the right to have stamps, forms with the trade name and own emblem (logo).
6. Participation of one user in the authorized capital of credit bureau cannot exceed 10 percent. At the same time the group of the interconnected faces shall be considered as one user and the share/share of these persons shall be summed up and be considered as shares/shares of one user.
7. The interconnected persons are understood as the legal entities and/or physical persons which jointly are owning shares/shares of credit bureau and/or having common interests among themselves.
1) Common interests between two and/or more physical persons and legal entity are recognized existing in the presence of any of the following conditions if:
a) one legal entity or physical person controls other legal entity or physical person;
b) these persons are the faces tied with credit bureau;
c) one of these persons is the dependent company of other person.
2) Persons are recognized jointly the owning shares/shares of credit bureau cases if they:
a) are close relatives (the spouse, parents, children, adoptive parents adopted full and not full brothers and sisters, the grandfather, the grandmother, grandsons);
b) are officials - shareholders of credit bureau;
c) are considerable participants separately or jointly;
d) jointly hold shares owing to the agreement or otherwise:
- about vote on management of credit bureau;
- about provision of shares in pledge with voting power;
- about transfer of voting power according to shares;
- about share transfer in trust management or about deposition otherwise with the right of management;
- when shares are acquired in own favor, but on behalf of other person;
- under representation by proxy or to other legal representation;
- with common interests.
The concepts used in this Item correspond to the concepts used in the Law "About Banks and Banking Activity".
8. Before receipt of the license occupation by any activities as credit bureau, except for is forbidden to the organizational activities connected with organization of credit bureau and other activities which are not forbidden by the legislation of the Kyrgyz Republic.
9. Within 10 (ten) working days from the moment of approach of changes of phone numbers, the fax and the e-mail postal address the National Bank shall notify credit bureau on such changes.
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