Article 12. Suspension of the permit The Law on Credit Bureaus and Formation of credit histories in the Republic of Kazakhstan

Home / RLA / Article 12. Suspension of the permit The Law on Credit Bureaus and Formation of credit histories in the Republic of Kazakhstan

1. The permit may be suspended for up to six months on one of the following grounds:

1) non-compliance with the requirements established by Article 8 of this Law;

2) establishing the inconsistency of the validity of the documents that were the basis for issuing the permit;

3) failure to comply with the written order of the authorized body to eliminate violations of the requirements of the legislation of the Republic of Kazakhstan on credit bureaus and the formation of credit histories.

2. The suspension of the permit entails a ban on the implementation of its activities, with the exception of activities to obtain information on previously concluded contracts.

3. The decision on the suspension of the permit must specify the grounds and the period of suspension of the permit.

The validity of the permit is considered suspended from the date of bringing such a decision to the attention of the executive body of the credit bureau.

The Law of the Republic of Kazakhstan dated July 6, 2004 No. 573.

This Law defines the legal, economic and organizational foundations of the formation of credit histories in the Republic of Kazakhstan, the legal status of participants in the system of formation of credit histories and their use, regulates public relations related to the creation, implementation and termination of activities of credit bureaus, the specifics of state regulation, control and supervision in this area.

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Republic of Kazakhstan

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