Article 2. Legislation of the Republic of Kazakhstan on credit bureaus and formation of credit histories The Law on Credit Bureaus and Formation of credit histories in the Republic of Kazakhstan

Home / RLA / Article 2. Legislation of the Republic of Kazakhstan on credit bureaus and formation of credit histories The Law on Credit Bureaus and Formation of credit histories in the Republic of Kazakhstan

1. The legislation of the Republic of Kazakhstan on credit bureaus and the formation of credit histories is based on the Constitution of the Republic of Kazakhstan and consists of the Civil Code of the Republic of Kazakhstan, this Law and other regulatory legal acts of the Republic of Kazakhstan.

2. This Law applies to relations arising in the formation of credit histories and the provision of credit reports, the creation, operation and termination of credit bureaus, the activities of information providers involved in the creation and protection of a database of credit histories. Relations falling under the scope of other legislative acts of the Republic of Kazakhstan are regulated by these acts to the extent not regulated by this Law.

2-1. Credit bureaus and other legal entities operating within the framework of the special regulatory regime introduced in accordance with the Law of the Republic of Kazakhstan "On State Regulation, Control and Supervision of the Financial Market and Financial Organizations", the norms of this Law and regulatory legal acts of the authorized body, the National Bank of the Republic of Kazakhstan, adopted in accordance with this Law, shall apply within the limits stipulated by the terms of the special regulatory regime.

2-2. The provisions of this Law applicable to banks shall apply to branches of non-resident banks of the Republic of Kazakhstan opened in the territory of the Republic of Kazakhstan.

3. If an international treaty ratified by the Republic of Kazakhstan establishes rules other than those contained in this Law, the rules of the international treaty shall apply.

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.

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