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LAW OF UKRAINE

of June 23, 2005 No. 2704-IV

About the organization of forming and the address of credit stories

(as amended on 15-09-2020)

This Law determines the legal and organizational principles of forming and maintaining credit stories, the rights of subjects of credit stories and users of bureau of credit histories, the requirement to the information security constituting credit history, procedure for education, activities and liquidation of bureau of credit histories.

Section I General provisions

Article 1. Law purpose

The purpose of this Law is settlement of the public relations arising in the sphere of collection, processing, storage, protection and use of information on accomplishment by persons of monetary commitments, functioning of the institutions connected with exchange of information about monetary commitments and providing the rights and interests of subjects of credit history.

Article 2. The legislation in the sphere of forming and the address of credit stories

The relations in the sphere of forming and the address of credit stories are regulated by the Constitution of Ukraine, this Law, international treaties which consent to be bound is this the Verkhovna Rada of Ukraine, and also other regulatory legal acts published in pursuance of this Law.

Article 3. Determination of terms

The terms used in this Law have the following value:

bureau of credit histories (further - Bureau) - the legal entity whose exclusive activities is collection, storage, use of information constituting credit history;

maintaining credit history - activities of Bureau for collection, processing, storage, protection, use of information constituting credit history;

credit history is set of information on legal entity or physical person identifying it, data on accomplishment of obligations by it on credit deals, other open information according to the Law;

the user of Bureau (further - the User) - legal entity or physical person - business entity which concludes credit deals and according to the Agreement grants and has the right to obtain information constituting credit history;

The agreement - the transaction which parties are the User and Bureau and which subject is settlement of provision and receipt of information constituting credit history;

Provision of Bureau - rules of forming and maintaining credit stories which affirm executive body of Bureau and will be approved by Authorized body;

the credit report - set of information on the subject of the credit history which is complete or partial reflection of its credit history;

credit deal - the transaction according to which arises changes or stops the obligation of physical person or legal entity on payment of money to the User during certain time in the future (including the insurance contract or purchase and sale of property with payment deferral);

credit point - special form of the credit report which is reflected in digital value;

the subject of credit history - any legal entity or physical person which addressed the User for the purpose of the conclusion of the credit agreement or already signed the credit agreement and concerning which credit history is created;

Authorized body - the National Bank of Ukraine.

Article 4. The principles of forming and information access, constituting credit history

The principles of forming and information access, constituting credit history, are:

ensuring constitutional rights and freedoms of subjects of credit stories;

adequacy of amounts of information to the purposes for which they gather;

importance, comprehensiveness, objectivity, completeness and accuracy of the information;

regularity and continuity of receipt of information;

target use of information;

urgency of storage of information;

confidentiality of information and its protection;

collection and provision of information constituting credit history it is exclusive with the consent of the subject of this credit history;

independence of Bureau.

Section II Credit stories

Article 5. Sources of forming of credit stories

1. Sources of forming of credit stories are:

the information provided by the User in Bureau from written consent of the subject of credit history according to this Law;

data of the state registers, information from other databases of public use opened for public sources except for of data (information), which are the state secret.

2. The bureau has the right to obtain the data and information specified in part one of this Article, on a contract basis.

Bodies or authorized persons (holders, administrators of the state registers, etc.) shall provide at the request of Bureau the information from the state registers in electronic form (in database format) in the presence of written consent of subjects of information.

Procedure for transfer of data from the state registers, and also the amount of payment for it and other conditions are established by the Cabinet of Ministers of Ukraine or according to its order - the Holder or the Administrator of the corresponding register and Bureau based on the agreement.

Article 6. Users of Bureau

1. Banks, non-bank financial institutions and other business entities which sell goods (services) with payment deferral or providing property on credit, and also persons who acquired the right to claim according to the credit agreement can be users of Bureau.

Article 7. Information containing in credit history

1. Credit history contains the following information:

1) the data identifying the personality:

a) for physical persons:

surname, name and middle name;

birth date;

passport data;

residence;

identification number according to the State register of physical persons - taxpayers and other obligatory payments (in the presence) (further - identification number);

data on the current labor activity;

marital status of person and the number of persons which are on its content;

date and number of state registration, data on body of state registration and the main subject of economic activity of the physical person - the subject of business activity;

b) for legal entities:

full name;

location;

date and number of state registration, data on body of state registration;

identification code in the Unified state register of the companies and organizations of Ukraine (further - identification code);

surname, name and middle name, passport data of the head and chief accountant;

main type of economic activity;

the data identifying the owners owning 10 and more percent of the authorized capital of the legal entity:

for physical persons - owners: surname, name and middle name, passport data, identification number and residence;

for legal entities - owners: full name, location, date and number of state registration, data on body of state registration, identification code;

2) data on monetary commitment of the subject of credit history:

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