Article 8-1. The procedure for creating a credit bureau The Law on Credit Bureaus and Formation of credit histories in the Republic of Kazakhstan

Home / RLA / Article 8-1. The procedure for creating a credit bureau The Law on Credit Bureaus and Formation of credit histories in the Republic of Kazakhstan

1. The procedure for setting up a credit bureau consists of the following steps::

1) obtaining a permit;

2) commissioning of the credit history database management system.

2. The permit is obtained in accordance with Article 9 of this Law.

3. To put the credit history database management system into commercial operation, the credit bureau needs to implement the following measures:

1) conclude an information provision agreement with one of the information providers specified in paragraph 1 of Article 18 of this Law;

2) organize the information process for the formation of credit histories;

3) to test the information process specified in subparagraph 2) of part one of this paragraph with information providers who have concluded an agreement on the provision of information with him.

4. The activities of the credit bureau are allowed only with the permission of the authorized body.

5. The requirements of this article do not apply to a 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 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.

President

Republic of Kazakhstan

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases