Article 15. Reorganization and liquidation of credit bureaus The Law on Credit Bureaus and Formation of credit histories in the Republic of Kazakhstan
The reorganization and liquidation of credit bureaus are carried out in accordance with the procedure provided for by the laws of the Republic of Kazakhstan.
When reorganizing a credit bureau, the database of credit histories of this credit bureau is subject to transfer to a legal successor formed as a result of a merger, merger, separation or transformation, or to another credit bureau by agreement of the parties. When a credit bureau is reorganized in the form of a division, the database of credit histories of this credit bureau is subject to transfer to the legal successor, if he has permission, or to another credit bureau by agreement of the parties.
Upon liquidation of a credit bureau, the database of credit histories of this credit bureau is subject to transfer to another credit bureau on a reimbursable basis.
The responsibility for maintaining the confidentiality of information contained in the credit bureau's database is borne by the credit bureau and its legal successor during reorganization, and by the liquidation commission appointed by the court or the owner of the property.
If the legal successor or other credit bureaus are not interested in acquiring the database of credit histories of the credit bureau being reorganized or liquidated, it must be transferred free of charge to the credit bureau with state participation.
The Law of the Republic of Kazakhstan dated July 6, 2004 No. 573.
This Law defines the legal, economic and organizational bases for 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.
President
Republic of Kazakhstan
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