On Credit Bureaus and Formation of Credit Histories in the Republic of Kazakhstan

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

      This Law determines the legal, economic and organizational basis of formation of credit histories in the Republic of Kazakhstan, legal situation of participants of system of formation of credit histories and their use, regulates public relations, related with creation, carrying out and termination of activity of credit bureau, features of the state regulation, control and supervision in this scope.

Chapter 1. General provisions

Article 1. Basic concepts used in this Law

      The following basic concepts shall be used in this Law:
      1) information – details in relation of subjects of credit histories on the electronic and paper media, transferred by the participants of system of formation of credit histories and their use, if it is necessary certified by the electronic digital signature;
      2) agreement on provision information – agreement, concluded between the credit bureau and information provider on the conditions and in the manner provided by this Law;
      3) information provider - individual entrepreneur or legal entity, providing information to the credit bureau;
      4) activity of information provider on participation in creation and protection of data base of credit histories – actions of information provider on formation (processing), storage and transfer of details, received from the subjects of credit histories to the credit bureau in accordance with requirements of this Law;
      5) written prescription – instruction to the credit bureau on adoption of binding measures, directed to elimination of identified deficiencies in the established term;
      6) credit bureau – an organization, carrying out formation of credit histories, provision of credit reports and rendering of other services;
      7) credit report – the form of full and partial release of information, contained in a credit history;
      8) an agreement on reception of credit reports – an agreement, concluded between credit bureau and recipient of credit reports on the conditions and in the manner provided by this Law;
      9) recipient of credit report – a person, having a right to obtain the credit report;
      10) provision of credit report – an activity of credit bureau on release of information, contained in the credit history;
      11) credit history – a set of information on the subject of credit history;
      12) a subject of credit history – individual or legal entity, in relation of which the credit history is formed;
      13) the consent of subject of credit history – written permission of subject of credit history for provision of information on it in the credit bureau (except for the credit bureau with the state participation) or issuance of credit report on it to other persons from the credit bureau, formed in accordance with requirements, established by the legislation of the Republic of Kazakhstan.
      13-1) adverse information on the subject of credit history – short form of a credit history on the subject of credit history, contained details on liquidation of subject of credit history, being a legal entity, by decision of court or on existence of past-due indebtedness more than one hundred and eighty calendar days at the subject of credit history;
      14) formation of credit history – an action or set of actions, carrying out by the credit bureau in relation of information, received by them from the information provider in accordance with this Law, on its storage, guarantee of confidentiality, monitoring, refining and updating;
      15) participants of the system of formation of credit histories and their use – the subjects of credit histories, information providers, credit bureaus, recipients of credit reports;
      16) database of credit histories – information resources of credit bureau, based on the information systems and information processes, conforming to the requirements, established by the legislation of the Republic of Kazakhstan;
      16-1) an applicant – a legal entity, presented the documents to the authorized body for the purposes of receipt of a license for carrying out of activity of credit bureau;
      17) an authorized body – National Bank of the Republic of Kazakhstan;
      18) conditional and contingent liabilities - uncovered letters of credit, issued or approved guarantees, promissory notes and guarantees.
      Footnote. Article 1 as amended by the Laws of the Republic of Kazakhstan dated 27.07.2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 23.10.2008 No. 72-IV (the order of enforcement see Article 2); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 05.07.2012 No. 30-V(shall be enforced upon expiry of ten calendar days after its first official publication).

Article 2. The legislation of the Republic of Kazakhstan on
credit bureau and formation of credit histories

      1. The legislation of the Republic of Kazakhstan on credit bureau and formation of credit histories shall be based on the Constitution of the Republic of Kazakhstan and shall consist of the Civil Code of the Republic of Kazakhstan, this Law and other regulatory legal acts of the Republic of Kazakhstan.
      2. This Law shall be applied to relations, arising upon formation of credit histories and provision of credit reports, creation, functioning and termination of activity of credit bureau, carrying out of activity of information provider and protection of database of credit histories. Relations, came under the scope of effect of other legislative acts of the Republic of Kazakhstan shall be regulated by these acts in a part, not regulated by this Law.
      3. If by the international treaty, ratified by the Republic of Kazakhstan, made other rules than those that contained in this Law, the rules of the international treaty shall be applied.

Article 3. Principles of formation of credit histories
and use of information

      Formation of credit histories and use of information shall be carried out in recognition of the following principles:
      1) existence of the consent of subject of credit history, except for the provision of information on it to the credit bureau with the state participation, as well as the case, provided in paragraph 4 of Article 25 of this Law;
      2) equality of all subjects of credit histories;
      3) intended use of information, database of credit histories and information system;
      4) confidentiality of information;
      5) ensuring protection of database of credit histories and relevant information systems;
      6) privacy of citizens, protection of rights, freedoms and legal interests of citizens and organizations;
      7) reliability and actuality of formation of database of credit histories.
      Footnote. Article 3 as amended by the Laws of the Republic of Kazakhstan dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).

Chapter 2. The state regulation, control and supervision
in the scope of activity of credit bureau and formation
of credit histories

Article 4. The state bodies, carrying out regulation,
control and supervision of activity of credit bureau,
control of activity of information provider and
recipients of credit reports

      1. The state regulation and supervision of activity of credit bureau and formation of credit histories shall be carried out by the authorized body.
      For these purposes the authorized body shall have a right to receive information, necessary for carrying out of their supervisory functions from individuals and legal entities, as well as from credit bureau, upon that received details shall not subject to disclosure, except for the cases, provided by this paragraph.
      Note of RCLI!
      Paragraph 1 is provided to be supplemented by third part by the Law of the Republic of Kazakhstan dated 27.04.2015 No. 311-V (shall be enforced from 01.01.2016).
      Employees of the authorized body shall bear responsibility for disclosure of details, received in the course of carrying out by them of supervisory functions, constituting official, commercial, banking or other legally protected secret in accordance with the Laws of the Republic of Kazakhstan.
      2. The competence of the authorized body shall include:
      1) adoption of regulatory legal acts on issues of activity of credit bureau in accordance with this Law;
      2) issuance of licenses for the right to carry out activity of credit bureau, except for the case, provided by this Law;
      3) conducting of verifications of activity of credit bureau on issues of observance of the legislation of the Republic of Kazakhstan on credit bureau and formation of credit histories;
      4) direction of written prescriptions to the credit bureau, banks, legal entities, having a license to conduct banking borrowing operations (hereinafter – organizations, carrying out the types of banking operations), on elimination of detected violations of the legislation of the Republic of Kazakhstan on credit bureau and formation of credit histories, as well as in the case of non-provision of information in the established terms;
      5) imposition of sanctions to the credit bureau and their civil servants;
      6) consideration of applications of individuals and legal entities on issues of activity of credit bureau, as well as related with formation of credit histories;
      7) carrying out of other functions, provided by this Law, other Laws of the Republic of Kazakhstan and acts of the President of the Republic of Kazakhstan.
      3. Is excluded by the Law of the Republic of Kazakhstan dated 27.04.2015 No. 311-V (shall be enforced upon expiry of ten calendar days after its first official publication).
      Footnote. Article 4 as amended by the Laws of the Republic of Kazakhstan dated 31.01.2006 No. 125; dated 27.07.2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 23.10.2008 No. 72-IV (the order of enforcement see Article 2); dated 10.02.2011 No. 406-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 05.07.2011 No. 452-IV (shall be enforced from 13.10.2011); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 27.04.2015 No. 311-V (shall be enforced upon expiry of ten calendar days after its first official publication).

Article 5. Powers of the state bodies on adoption of regulatory
legal acts on issues of activity of credit bureau, information
provider, formation of credit histories and their use

      An authorized body shall adopt the following regulatory legal acts on issues of activity of credit bureau, formation of credit histories and their use;
      1) on conditions and minimum requirements to the procedure of provision of information to the credit bureau (for the information providers, specified in subparagraphs 1), 2) and 3) of paragraph 1 of Article 18 of this Law) by the information providers;
      2) on procedure of formation of the consent of subjects of credit histories for provision of information on them to the credit bureau (except for the credit bureau with the state participation), formation of the consent to issue of credit report from the credit bureau;
      3) on conditions and procedure of provision of credit report;
      4) on conditions and procedure of licensing of credit bureau, except for the case, provided by this Law;
      5) on procedure, terms and volumes of provision of information and details to the authorized body by the credit bureaus;
      6) on requirements to the use of information and communication technologies and ensuring of information security upon organization of activity of credit bureau, information providers and recipients of credit reports.
      2. Is excluded by the Law of the Republic of Kazakhstan dated 27.04.2015 No. 311-V (shall be enforced upon expiry of ten calendar days after its first official publication).
      Footnote. Article 5 as amended by the Laws of the Republic of Kazakhstan dated 31.01.2006 No. 125; dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 27.04.2015 No. 311-V (shall be enforced upon expiry of ten calendar days after its first official publication).

Chapter 3. Creation, carrying out and termination of
activity of credit bureau

Article 6. Credit bureau

      1. The credit bureau shall be commercial organizations, created and operating in accordance with the legislation of the Republic of Kazakhstan, except for the credit bureau with the state participation.
      The credit bureau with the state participation shall be the only specialized non-commercial organization, created in the organizational-legal form of joint-stock society, one hundred percent of the voting shares of which belong to the authorized body.
      2. Is excluded - dated 27 July, 2007 No. 317.
      3. A license for the right to carry out activity of credit bureau shall be issued by the authorized body in the manner, established by this Law and regulatory legal acts of the authorized body.
      An activity of credit bureau with the state participation shall not subject to licensing by the authorized body.
      4. The name of the credit bureau shall contain the word “credit bureau” or derivative words.
      Footnote. The title and Article 6 as amended by the Laws of the Republic of Kazakhstan dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 23.10.2008 No. 72-IV (the order of enforcement see Article 2); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 05.07.2012 No. 30-V(shall be enforced upon expiry of ten calendar days after its first official publication); dated 27.04.2015 No. 311-V(shall be enforced upon expiry of ten calendar days after its first official publication).

Article 7. Types of activity, carrying out by credit bureau

      1. Basic types of activity of credit bureaus shall be formation of credit histories and provision of credit reports.
      2. Additional types of activity of credit bureau shall include:
      1) implementation of specialized software, used for automation of activity of participants of system of formation of credit histories and their use;
      2) implementation of specialized literature and other information materials, relating to the activity of credit bureau;
      3) provision of consulting services, related with information support of participants of the system of formation of credit histories and their use;
      4) credit rating of subjects of credit histories, carrying out on the basis of methods, developed by them;
      5) marketing and statistical researches;
      6) Is excluded by the Law of the Republic of Kazakhstan dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).
      2-1. Credit bureau with the state participation shall carry out formation and database maintenance on insurance in accordance with the Law of the Republic of Kazakhstan “On insurance activity”.
      3. Credit bureau shall not have a right to carry out the types of entrepreneurial activity, not provided by this Article.
      Footnote. Article 7 as amended by the Laws of the Republic of Kazakhstan dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 27.04.2015 No. 311-V (shall be enforced upon expiry of ten calendar days after its first official publication).

Article 8. Requirements to the credit bureau on protection
and ensuring the safety of database of credit histories
and used information systems

      The credit bureau in its activity shall be obliged to provide execution of the following organization, technical measures and technological requirements:
      1) have technical and other premises for safe placement and operation of information system, database of credit histories and other documents;
      2) upon formation and use of information systems for placement of database of credit histories and protective means of specified information systems to apply the certified hardware and software;
      3) provide existence of conditions on compulsory joint implementation of organization, technical measures and technological requirements on protection of software, applied upon formation and operation of information systems, used for creation database of credit histories and protective means of specified information systems in the agreements, concluded with information providers and recipients of credit reports;
      4) provide existence of secondary server, located outside the city of location of credit bureau, for storage of backup copies of information of the subject of credit history.
      Footnote. Article 8 as amended by the Law of the Republic of Kazakhstan dated 23.10.2008 No. 72-IV (the order of enforcement see Article 2).

Article 8-1. Procedure of creation of credit bureau

      1. Procedure of creation of credit bureau shall consist of the following stages:
      1) licensing;
      2) introduction of the system of database management of credit histories into operation.
      Requirements of this paragraph shall not be distributed to the credit bureau with the state participation.
      2. Licensing shall be carried out in accordance with Article 9 of this Law.
      3. Is excluded by the Law of the Republic of Kazakhstan dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).
      4. For introduction of the system of database management of credit histories into operation, the credit bureau shall carry out the following measures:
      1) conclude an agreement on provision of information with one of the information provider, specified in paragraph 1 of Article 18 of this Law;
      2) organize information process on formation of credit histories;
      3) perform the test of information process, specified in subparagraph 2 of this paragraph with information provider, concluded an agreement with it on provision of information.
      Verification of implementation of necessary measures on introduction of the system of database management of credit histories into operation by the credit bureau shall be carried out by the commission of the authorized body, the result of which are reflected in the act of introduction of the system of database management of credit histories into operation on the form, established by the authorized body.
      Requirements of this paragraph shall not be distributed to the credit bureau with the state participation.
      5. Carrying out of activity of credit bureau shall be allowed only in the existence of license of the authorized body and act of introduction of the system of database management of credit histories into operation.
      Carrying out of activity of credit bureau with the state participation shall be allowed in the existence of the acts with its compliance with the requirements, presented to the credit bureau, on protection and ensuring the safety of database of credit histories, used information systems and premises, composed in accordance with requirements of this Law and regulatory legal acts of the authorized body.
      Footnote. Chapter 3 is supplemented by Article 8-1 in accordance with the Law of the Republic of Kazakhstan dated 23.10.2008 No. 72-IV (the order of enforcement see Article 2); as amended by the Laws of the Republic of Kazakhstan dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 27.04.2015 No. 311-V(shall be enforced upon expiry of ten calendar days after its first official publication).

Article 9. The documents, necessary for reception of
a license and terms of their consideration

      1. For reception of a license for the right of carrying out of activity of credit bureau, the applicant shall be obliged to present the following documents to the authorized body:
      1) application on issuance of a license;
      1-1) business plan on carrying out of activity of credit bureau;
      2) Is excluded by the Law of the Republic of Kazakhstan dated 16.05.2014 No. 203-V (shall be enforced upon expiry of six months after its first official publication);
      2-1) Is excluded by the Law of the Republic of Kazakhstan dated 16.05.2014 No. 203-V (shall be enforced upon expiry of six months after its first official publication);
      3) copies of constitutional documents, undergone the state registration in accordance with the established procedure;
      4) an act on compliance of credit bureau with the requirements, specified to the credit bureau on protection and ensuring the safety of database of credit histories, used information systems and premises, composed in accordance with requirements of this Law and regulatory legal acts of the authorized body, with the annex of supporting documents;
      5) a document, approving the payment of license fee, established by the legislation of the Republic of Kazakhstan.
      2. Application on issuance of a license for the right to carry out activity of credit bureau shall be considered by the authorized body during fifteen calendar days from the date of reception of last document, provided by paragraph 1 of this Article.
      3. Business plan on carrying out of activity of credit bureau shall include:
      1) description of activity of credit bureau;
      2) procedure and terms of organization of information processes on formation of credit histories;
      3) price policy and procedure of tariff calculations for the credit reports;
      4) prediction for the next three years on incomes and expenses;
      5) perspective development plan of activity of credit bureau.
      4. Credit bureau shall present amendments and additions to the authorized body during ten days from the date of introduction in the cases of change of address, specified in application for reception of a license, as well as introduction of amendments and additions to the documents, specified in subparagraph 3) of paragraph 1 of this Article.
      5. Requirements of this Article shall not be distributed to the credit bureau with the state participation.
      Footnote. Article 9 as amended by the Laws of the Republic of Kazakhstan dated 23.10.2008 No. 72-IV (the order of enforcement see Article 2); dated 19.03.2010 No. 258-IV; dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 24.12.2012 No. 60-V (shall be enforced upon expiry of ten calendar days after its first official publication); dated 16.05.2014 No. 203-V (shall be enforced upon expiry of six months after its first official publication); dated 29.12.2014 No. 269-V (shall be enforced from 01.01.2015).

Article 10. Refusal to issue license for the right to carry
out activity of credit bureau

      Refusal to issue license for the right to carry out activity of credit bureau shall be performed in the cases of:
      1) carrying out of determined type of activity, prohibited in accordance with the legislative acts of the Republic of Kazakhstan for this category of subjects;
      2) noncompliance with the requirements, provided by Article 8 and paragraph 1 of Article 9 of this Law;
      3) if in relation of applicant there is a court decision, prohibited engagement in this type of activity.
      Footnote. Article as amended by the Law of the Republic of Kazakhstan dated 23.10.2008 No. 72-IV (the order of enforcement see Article 2).

Article 11. Written prescription and sanction

      1. In the case of violation of the legislation of the Republic of Kazakhstan on credit bureau and formation of credit histories, the authorized body shall have a right to direct the written prescription on elimination of detected violations to the credit bureau, bank, organization, carrying out the separate types of banking operations, microfinancing organization.
      2. The authorized body shall have a right to adopt the following measures as sanctions:
      1) administrative fine;
      2) suspension of a license for the right to carry out activity of credit bureau;
      3) Is excluded - dated 27 July, 2007 No. 317.
      Footnote. Article 11 as amended by the Laws of the Republic of Kazakhstan dated 12 January, 2007 No. 222 (shall be enforced upon expiry of 6 months after its first official publication); dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 26.11.2012 No. 57-V (shall be enforced upon expiry of ten calendar days after its first official publication).

Article 12. Suspension of validity of a license of
credit bureau

      1. Validity of a license of credit bureau may be suspended for the term of up to six months on one of the following grounds:
      1) noncompliance with the requirements, established by Article 8 of this Law;
      2) establishment of discrepancy with the validity of the documents, being the basis for issuance of a license;
      3) noncompliance with a written prescription of the authorized body on elimination of violations of the legislation of the Republic of Kazakhstan on credit bureau and formation of credit histories.
      2. Suspension of validity of a license of credit bureau shall entail prohibition on carrying out of its activity, except for the activity on receiving information on previously concluded agreements.
      3. The grounds and term of suspension of validity of a license shall be specified in the decision on suspension of validity of a license.
      Validity of a license shall be considered as suspended from the date of bringing of such decision to the notice of executive body of credit bureau.

Article 13. Termination of a license of credit bureau

      An authorized body shall have a right to apply to the court with the statement of claim on termination of a license of credit bureau on one of the following grounds:
      1) non-elimination of reason, on which a license is suspended validity of a license;
      1-1) Is excluded by the Law of the Republic of Kazakhstan dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication);
      2) repeated (two and more times) suspension of validity of a license during last twelve months;
      3) prohibition of the court to the licenser to engage in that type of activity, for carrying out of which he (she) is licensed;
      4) termination of entrepreneurial activity of a licenser;
      5) provision of misleading information by the licenser upon receipt of a license.
      Making decision by court on termination of a license of credit bureau shall entail liquidation of credit bureau.
      Footnote. Article 13 as amended by the Laws of the Republic of Kazakhstan dated 12 January, 2007 No. 222 (shall be enforced upon expiry of six months after its first official publication); dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 23.10.2008 No. 72-IV (the order of enforcement see Article 2); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).

Article 14. Storage of documents and information of
credit bureau

      1. Procedure of storage of documents and information of credit bureau, as well as credit histories, included in the database shall be determined by credit bureau.
      2. Credit bureau shall provide storage of information in relation of subject of credit history during ten years after the date of reception of last information on it.
      Footnote. Article 14 as amended by the Law of the Republic of Kazakhstan dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication).

Article 15. Reorganization and liquidation of credit bureau

      Reorganization and liquidation of credit bureau shall be carried out in the manner provided by the legislative acts of the Republic of Kazakhstan.
      Upon reorganization of credit bureau the database of credit histories of this credit bureau shall be transferred to the assignee, formed as a result of affiliation, allocation or reorganization or other credit bureau by agreement of the parties. Upon reorganization of credit bureau in the form of separation, the database of credit histories of this credit bureau shall be transferred to the assignee in the existence of a license for the right to carry out activity of credit bureau or other credit bureau by agreement of parties.
      Upon liquidation of credit bureau, the database of credit histories of this credit bureau shall be transferred to other credit bureau for compensation.
      Upon reorganization, the credit bureau and its assignee shall bear responsibility for preservation of confidentiality of information, contained in the database of credit histories of credit bureau, upon liquidation, appointed by court or property owner – the liquidation commission.
      In the case of lack of interests of assignee or other credit bureau in acquirement of database of credit histories of reorganized or liquidated credit bureau, it shall be transferred to the credit bureau with state participation without compensation.
      Footnote. Article 15 as amended by the Laws of the Republic of Kazakhstan dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).

Chapter 4. Rights and obligations of participants of the
system of formation of credit histories and their use

Article 16. Rights of credit bureau

      Credit bureau shall have a right to:
      1) conclude agreements on provision of information with information providers and (or) on reception of credit reports with recipients of credit reports;
      2) require provision of approval on obtainment the consent of the subject of credit history from information providers for the transfer of details on it to the credit bureau, except for the credit bureau with the state participation, as well as the case, provided in paragraph 4 of Article 25 of this Law, as well as comprehensive and reliable information, formed the credit histories;
      3) open the branches and representations in the manner determined by the legislation of the Republic of Kazakhstan;
      3-1) provide without the consent of subject of credit history an adverse information on the subject of credit history or information on existence or absence of credit history of the subject in the database of credit bureau without disclosure of information, contained in the credit history, to the persons, having a right to receive information from the credit bureau in accordance with the legislation of the Republic of Kazakhstan;
      3-2) provide information, contained in the database of credit histories of credit bureau without the consent of subject of credit history to the credit bureau with the state participation in the case, provided by subparagraph 8-2) of Article 17 of this Law;
      4) have other rights, provided by the legislative acts of the Republic of Kazakhstan and agreements, concluded in accordance with this Law.
      Footnote. Article 16 as amended by the Laws of the Republic of Kazakhstan dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).

Article 17. Obligations of credit bureau

      The credit bureau shall be obliged to:
      1) carry out formation of credit histories;
      2) present the credit reports in the existence of approval on reception of the consent of subject of credit history, except for the case, provided in paragraph 4 of Article 25 of this Law;
      3) prevent disclosure of information, contained in the credit histories, as well as information, constituting banking secret, except for the cases, provided by this Law;
      4) provide the corrected credit report to the recipient of credit report and subject of credit history in the case, if the credit report, provided to the recipient due to the action or omission of servants of credit bureau is contained information, not relevant to information, provided to the credit bureau by the information providers, during five days from the date of finding out of the specified inconsistency.
      In the case of necessity of approval of the fact by the information provider of inconsistency of issued credit report by the credit bureau, calculation of the term of provision of corrected credit report to the recipient of credit report and subject of credit history shall be carried out from the date of reception of relevant information by the credit bureau from the provider;
      5) present the details on information provider, provided information, contested by the subject of credit history upon the application of subject of credit history;
      6) refuse in provision of credit report, if the request on its provision is composed with violation of requirements, established by the legislation of the Republic of Kazakhstan;
      7) maintain a record and present the accounts on its activity in accordance with the legislation of the Republic of Kazakhstan;
      8) apply to the information provider with requirement on correction, supplementation of received information, subjected to reissuance or refinement in the existence of relevant grounds;
      8-1) introduce amendments and additions to the credit history of the relevant subject on receipt of information from the information provider not later than the next business day;
      8-2) apply to the credit bureau with the state participation for verification of reliability of information, stored in the database of credit histories of credit bureau, as well as introduce corrections in relation of information, not relevant to the details, stored in the database of credit histories of credit bureau with the state participation. Procedure and conditions of application to the credit bureau with the state participation, introduction of corrections in the database of credit histories of credit bureau shall be established by the authorized body;
      9) use information resources and information systems in accordance with the legislation of the Republic of Kazakhstan;
      10) provide equality of all information providers and recipients of credit reports, composing the group on basic type of activity;
      11) comply with other requirements, established by the legislation of the Republic of Kazakhstan and (or) agreements on provision of information and (or) on reception of credit reports.
      Footnote. Article 17 as amended by the Laws of the Republic of Kazakhstan dated 27.07.2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 10.02.2011 No. 406-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).

Article 18. Information providers

      1. Information providers shall be:
      1) banks, organizations, carrying out the separate types of bank operations, microfinancing organizations;
      2) individual entrepreneur or legal entity, selling the goods and services on credit or granting delay in payments, systematized features of which are determined by the Government of the Republic of Kazakhstan;
      3) the state bodies, carrying out registration of rights to the immovable property;
      3-1) natural monopoly entities;
      4) other persons on the basis of agreements on provision of information.
      2. The regulatory legal acts of the authorized body on issues of activity of credit bureau and formation of credit histories are compulsory for execution by information provider in a part, concerning their activity as information providers on participation in creation and protection of database of credit histories.
      Footnote. Article 18 as amended by the Laws of the Republic of Kazakhstan dated 23.12.2005 No. 107 (the order of enforcement see Article 2 of the Law No. 107); dated 26.07.2007 No. 311 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 27.07.2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 25.03.2011 No. 421-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 26.11.2012 No. 57-V (shall be enforced upon expiry of ten calendar days after its first official publication); dated 29.12.2014 No. 269-V (shall be enforced from 01.01.2015).

Article 19. Rights and obligations of information provider

      1. Information provider shall have a right to:
      1) require the use of provided information from the credit bureau in accordance with this Law;
      2) have other rights in accordance with the legislative acts of the Republic of Kazakhstan and (or) agreements on provision of information and (or) on reception of credit reports.
      2. Information providers, specified in subparagraphs 1), 2) and 4) of paragraph 1 of Article 18 of this Law shall be obliged to:
      1) receive the consent of the subject of credit history for provision of details on it to the credit bureau, except for the credit bureau with the state participation, as well as the cases, provided in paragraph 4 of Article 25 of this Law and Article 61-2 of the Law of the Republic of Kazakhstan “On banks and banking activity in the Republic of Kazakhstan”;
      2) conclude an agreement on provision of information with credit bureau with the state participation;
      3) provide information to the credit bureau on conditions, in the volume and manner determined by this Law and agreement on provision of information;
      4) introduce corrections to the information, transferred to the credit bureau, at the request of the subject of credit history;
      5) provide information to the credit bureau, with which an agreement on provision of information, in exact correspondence with the available details on the subject of credit history is concluded;
      6) use information resources and information systems in accordance with the legislation of the Republic of Kazakhstan;
      7) provide appropriate conditions and processing of information at the expense of budget funds;
      8) inform the credit bureau during fifteen business days from the date of change or reception of any of details in relation of the subject of credit history in the manner determined by agreement on provision of information.
      3. Information provider, specified in subparagraph 3) of paragraph 1 of Article 18 of this Law shall:
      1) comply with requirements, established by this Law, presented to other information providers in the case of conclusion them an agreement with credit bureau on provision of information;
      2) provide available information on subjects of credit histories to the credit bureau on a free basis.
      4. Information providers in the credit bureau, that do not carry out activity, previously entailed their participation shall be obliged to update information on all of previously transferred to the database of credit bureau to the subjects up to termination of contractual relations with the specified subjects.
      Footnote. Article 19 as amended by the Laws of the Republic of Kazakhstan dated 27.07.2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 23.10.2008 No. 72-IV (the order of enforcement see Article 2); dated 10.02.2011 No. 406-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 27.04.2015 No. 311-V (shall be enforced from 01.01.2015).

Article 20. Recipients of credit report

      1. Recipients of credit reports shall be:
      1) banks, organizations, carrying out the separate types of bank operations, microfinancing organizations;
      2) individual entrepreneur or legal entity, selling the goods and services on credit or granting delay in payments, systematized features of which are determined by the Government of the Republic of Kazakhstan;
      3) other persons on the basis of agreements on provision of information;
      4-1) a person, for the benefit of whom the bank guarantee or surety is issued;
      4-2) representative of bonds holders in relation of credit report of bonds issuer, with whom an agreement on representation of interests of bonds holders is concluded;
      5) an authorized body.
      Recipients of credit report, specified in subparagraph 4) of this paragraph shall have a right to receive a credit report only about themselves.
      Recipients of credit report, specified in subparagraph 4-1) of first part of this paragraph shall have a right to receive the credit report only on guarantees or sureties, issued by bank.
      Recipients of credit report, specified in subparagraph 4-2) of first part of this paragraph shall have a right to receive a credit report only on bonds issuer, with whom an agreement on representation of interests of bonds holders is concluded.
      Provision of credit reports to the persons, not specified in this paragraph shall not be allowed.
      2. Persons, specified in subparagraphs 1), 2), 3) and 4-2) of paragraph 1 of this Article shall be registered in the credit bureau ad recipient of credit reports after conclusion of agreement on reception of credit reports.
      Footnote. Article 20 is in the wording of the Law of the Republic of Kazakhstan dated 27.07.2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); as amended by the Laws of the Republic of Kazakhstan dated 23.10.2008 No. 72-IV (the order of enforcement see Article 2); dated 30.12.2009 No. 234-IV; dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 26.11.2012 No. 57-V (shall be enforced upon expiry of ten calendar days after its first official publication).

Article 21. Rights and obligations of recipient of
credit report

      1. Recipient of credit report shall have a right to:
      1) receive a credit report;
      2) have other rights in accordance with the legislative acts of the Republic of Kazakhstan.
      2. The subject of credit history shall have a right to receive the credit report about itself once during a calendar year for free, except for the case, provided by subparagraph 4) of Article 17 of this Law, when the corrected credit report is provided to the subject.
      3. Recipients of credit report, specified in subparagraph 1), 2) 3) and 4-2) of paragraph 1 of Article 20 of this Law shall be obliged to:
      1) present an approval on reception of the consent of subject of credit history for reception of credit report on it to the credit bureau, except for the case, provided in paragraph 4 of Article 25 of this Law;
      2) inform on the changes of details, presented them upon registration as the recipient of credit report;
      3) maintain confidentiality in relation of credit report and not disclose information, contained therein to the third persons;
      4) use information, contained in the credit report only for the purposes, provided by Article 26 of this Law;
      5) acquaint with the content of credit report or issue the copy of credit report at the request of subject of credit history in accordance with rules of recipient of credit report;
      6) pay services of credit bureau on presentation of credit report;
      7) incur other obligations in accordance with the legislative acts of the Republic of Kazakhstan.
      Footnote. Article 21 as amended by the Laws of the Republic of Kazakhstan dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).

Article 22. Rights of the subject of credit history

      The subject of credit history shall have a right to:
      1) give consent to the information provider on presentation of details on it to the credit bureau for formation of credit history, with whom an agreement on provision of information is concluded by the information provider, except for the credit bureau with the state participation;
      2) give consent to the recipient of credit report for reception of credit report on it;
      3) receive a credit report about itself from the date of reception of information on it to the credit bureau in accordance with requirements, established by this Law;
      4) require familiarization with the credit report or issuance of the copy of credit report, received by the recipient from the credit bureau in accordance with the internal rules of recipient of credit report upon consideration of its applicant for reception of credit;
      5) state on disagreement with information, contained in the credit report, with possibility of reception of information on providers;
      6) request the corrected credit report in the credit bureaus, if the credit report, provided to the recipient due to action or omission of servants of credit bureau is contained information, not relevant to information, provided by the information providers to the credit bureau;
      7) apply to the information provider with requirement on correction of unreliable information.
      Footnote. Article 22 as amended by the Law of the Republic of Kazakhstan dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).

Chapter 5. Provision of information to the credit bureau

Article 23. General conditions of provision of information
to the credit bureau

      1. Information providers, specified in subparagraphs 1), 2) and 4) of paragraph 1 of Article 18 of this Law shall be obliged to provide information to the credit bureau with the state participation, as well as with the consent of subject of credit history on the basis of agreements on provision information to other credit bureaus, except for the cases, provided by paragraph 4 of Article 25 of this Law.
      Conditions of provision of information to the credit bureau by the information providers, specified in a first part of this paragraph and reception of credit reports shall be determined by the agreements on provision of information and (or) reception of credit reports, concluded in accordance with the legislation of the Republic of Kazakhstan.
      2. Is excluded by the Law of the Republic of Kazakhstan dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).
      3. The state bodies, carrying out registration of rights to the immovable property shall provide information to the credit bureau on the basis of agreements on provision of information, concluded with them in the manner and conditions, determined by the authorized body.
      4. Information shall be provided by the providers to the credit bureau on the electronic media. The cases of provision of information on paper media shall be determined by the internal documents of credit bureaus and agreements, concluded by them with information providers.
      5. Information provider shall maintain accounts of the consents of subjects of credit histories, received by them for provision of details about them to the credit bureaus (except for the credit bureau with the state participation).
      6. The consent of subjects of credit histories for provision of details about them to the credit bureaus on the paper media shall be stored by the information provider not less than ten years from the date of provision of last information about them to the credit bureaus.
      Footnote. Article 23, as amended by the Laws of the Republic of Kazakhstan dated 26 July, 2007 No. 311 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 25.03.2011 No. 421-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).

Article 24. Information provided to the credit bureau

      1. Information provided to the credit bureau by banks, organizations, carrying out by the separate types of bank operations, microfinancing organizations shall contain:
      1) amount of debt on credit, received by person in this bank or organization, carrying out the separate types of banking operations, as well as total amount of debt on all credits, received by them, conditional and contingent liabilities;
      2) the date of issuance, the date of (on schedule and the actual) repayment of credits (with specification of resource of repayment), as well as conditional and contingent liabilities;
      3) information on the composition and methods of ensuring performance of obligations (except for the ensuring of the stored in the safe boxes, wardrobes and premises of the bank);
      3-1) adverse information on the subject of credit history in its existence;
      4) other details by agreement of parties.
      For the purposes of this paragraph the credit shall be regarded as bank loans, leasing, factoring, forfeiting operations, discounting bills, as well as provision of microcredits.
      2. Information provided to the credit bureaus by the individual entrepreneur or legal entity, selling the goods and services on credit or granting delay in payments shall contain the following details:
      1) an amount of debt on credit, as well as on all goods and services, received on credit;
      2) the date of issuance, the date of (on schedule and the actual) repayment of credits;
      3) information on composition and methods of ensure performance of obligations;
      4) other details by agreement of parties.
      3. Information on the subject of credit history – individual, provided in accordance with requirements of paragraphs 1 and 2 of this Article shall contain the surname, first name, patronymic, the date of birth, place of residence, legal address, name and requisites of identity documents, personal identification number.
      4. Information on the subject of credit history – legal entity, provided in accordance with requirements of paragraphs 1 and 2 of this Article shall contain the name, organizational-legal form, location, number and date of the state registration as a legal entity, business identification number, surname, first name, patronymic of chief executive officers and their personal identification numbers.
      5. Information provided to the credit bureaus by the state bodies, carrying out registration of rights to the immovable property shall contain details:
      1) for individuals – surname, first name, patronymic, the date of birth, place of residence, legal address, name and requisites of identity document, personal identification number, details on registration of property rights and other rights, as well as encumbrances on immovable property;
      2) for legal entities – the name, organizational-legal form, location, number and date of the state registration as legal entity, business identification number, bank information, details on registration of property rights and other rights, as well as encumbrances on immovable property.
      6. The list of information, provided by this Article may be supplemented by agreement between the credit bureau and information provider on the basis of agreement on provision of information, concluded by them, if it is not contradict to the requirements established by the legislation of the Republic of Kazakhstan.
      Footnote. Article 24 as amended by the Laws of the Republic of Kazakhstan dated 12.01.2007 No. 224 (shall be enforced from 01.01.2012); dated 26 July, 2007 No. 311 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 23.10.2008 No. 72-IV (the order of enforcement see Article 2); dated 25.03.2011 No. 421-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 12.01.2012 No. 538-IV (the order of enforcement see Article 2); dated 26.11.2012 No. 57-V (shall be enforced upon expiry of ten calendar days after its first official publication).

Article 25. Formation of consent of the subject of credit
history for provision of information and issuance
of credit report

      1. The consent of subject of credit history for provision of information on it to the credit bureau (except for the credit bureau with the state participation) and (or) for issuance of credit report to the recipient of credit report from the credit bureau shall be formed in a written form.
      2. The consent of subject of information of individual may be also formed by the authorized attorney, acting under power of attorney, formed in accordance with the legislation of the Republic of Kazakhstan on notaries.
      3. Information provider, recipient of credit report, filed a request on provision of credit report, or their civil servants shall bear responsibility for lack of the consent of subject of credit history for provision of information on it to the credit bureau (except for the credit bureau with the state participation) for formation of credit history and (or) issuance of credit report from credit bureau, as well as improper formation in accordance with the legislation of the Republic of Kazakhstan on administrative infractions.
      4. Provision of the consent of subject of credit history for provision of adverse information on this subject to the credit bureau and provision of credit reports, contained the adverse information on the subject of credit history to the information providers by the credit bureau shall not be required.
      Footnote. Article 25 as amended by the Law of the Republic of Kazakhstan dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).

Article 26. Grounds and purposes of the use of information
and credit reports

      1. The grounds for provision of information to the credit bureau (except for the credit bureau with the state participation), issuance of credit reports from credit bureau shall be the consent of subject of credit history.
      2. Information in the system of credit bureau may be used by the recipient of credit report for the purposes of:
      1) risk assessment upon provision, monitoring and prolongation of credits;
      2) risk assessment upon change of conditions of credit agreements;
      3) risk assessment on other transactions with deferred payments;
      4) approval of validation of information, contained in the credit report.
      3. Credit bureau shall have a right to use details, received from information providers for carrying out by them of marketing and statistical researches.
      4. Credit bureau shall have a right to provide to the credit bureau of foreign states and receive from them information on existence and absence of credit history of subject in the existence of consent on change of information between the authorized body and relevant supervisory body of the foreign state.
      Footnote. Article 26 as amended by the Laws of the Republic of Kazakhstan dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).

Chapter 6. Relations on formation of credit histories
and their use

Article 27. Agreements, concluded with information providers
and recipients of credit reports

      1. Information providers, specified in subparagraphs 1) and 2) of paragraph 1 of Article 18 of this Law shall be obliged to conclude agreements on provision of information with credit bureau with the state participation for the purposes of execution of their obligations on provision of information during 180 calendar days from the date of the state registration of credit bureau with the state participation and (or) correspondence of information providers to the features, determined by subparagraphs 1) and 2) of paragraph 1 of Article 18 of this Law.
      Information providers, specified in paragraph 1 of Article 18 of this Law shall have a right to conclude agreement on provision of information with other credit bureau in terms, determined by agreement on provision of information.
      2. An agreement on provision of information shall contain the following conditions:
      1) the data of individual entrepreneur or full name of parties, information on their place of residence, legal address or location, banking details;
      2) contract duration, grounds and procedure of its change, termination and cancelation in accordance with unilateral procedure, as well as amounts of fines for violation of obligations on agreement;
      3) compulsory reception of consent of subject of credit history for provision of information on it to the credit bureau, except for the credit bureau with the state participation, as well as the case, provided in paragraph 4 of Article25 of this Law;
      4) types, volumes, terms (periodicity), procedure of provision of information, forming the credit histories, conditions of payment of services, rendered by the parties of agreement, as well as conditions of joint implementation of organization, technical measures and technological requirements on protection of database of credit histories and used information systems;
      5) an obligation of credit bureau on the use of provision of information only in accordance with purposes, provided by this Law;
      6) an obligation of credit bureau on observance of confidential treatment in relation of all received information and disclosure it only on the grounds, conditions and procedure, provided by this Law;
      7) an obligation of information provider on observance of confidential treatment in relation of all information, directed to the credit bureau;
      8) Is excluded - dated 27 July, 2007 No. 317;
      9) responsibility of parties, including responsibility of information provider in the case of provision by them of unreliable information to the credit bureau.
      3. An agreement on reception of credit reports shall contain the following conditions:
      1) the data of individuals or full name of parties, information on their place of residence, legal address or location, banking details;
      2) contract duration, grounds and procedure of its change, termination and cancelation in accordance with unilateral procedure, as well as amounts of fines for violation of obligations on agreement;
      3) compulsory reception of consent of subject of credit history for issuance of credit report on it to the recipient of credit report, except for the case, provided in paragraph 4 of Article 25 of this Law;
      4) volume of information, contained in the credit reports and procedure of reception of credit reports;
      5) an obligation of recipient of credit reports on non-disclosure of information, contained in the credit report;
      6) an obligation of recipient of credit report on the use of provided information only in accordance with the purposes, provided by this Law;
      7) responsibility of parties.
      4. The compulsory condition of conclusion of agreement on provision of information shall be existence of document, approving correspondence of information provider to the conditions, provided by the authorized body to ensuring of activity of participants of system of formation of credit histories.
      5. Refusal to perform obligations on agreement on provision of information to the credit bureau in accordance with unilateral procedure shall not be allowed, unless otherwise provided by specified agreement.
      Footnote. Article 27 as amended by the Laws of the Republic of Kazakhstan dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 23.10.2008 No. 72-IV (the order of enforcement see Article 2); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).

Article 28. Registration in the credit bureau as recipient
of credit report

      For registration in the credit bureau the persons, specified in subparagraphs 1), 2), 3) and 4-2) of first part of paragraph 1 of Article 20 of this Law shall present the following documents:
      1) application on registration in the credit bureau;
      2) notarized copies of licenses, issued by the authorized body for carrying out of licensable types of activity (for organizations, carrying out the licensable types of activity);
      3) a copy of certification on the state registration as individual entrepreneur – for individual;
      3-1) certificate on the state registration (reregistration) of legal entity – for legal entity;
      4) information on the surname, name, patronymic (in its existence) and position of persons, authorized to carry out the requests to the credit bureaus. If it is necessary the specified information shall be certified by electronic digital signature of these persons.
      Footnote. Article 28 as amended by the Laws of the Republic of Kazakhstan dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication); dated 24.12.2012 No. 60-V (shall be enforced upon expiry of ten calendar days after its first official publication).

Article 29. Provision of credit report

      1. The grounds for provision of credit report shall be:
      1) existence of the consent of subject of credit history on issuance of credit report on it, except for the case, provided in paragraph 4 of Article 25 of this Law;
      2) compliance of recipient of credit report with the requirements, provided by this Law;
      3) the request of recipient of credit report with approval on existence of the consent of subject of credit history for provision of credit report, except for the case, provided in paragraph 4 of Article 25 of this Law.
      Requirements of this paragraph shall not be distributed to the case of presentation of credit report at the request of the authorized body.
      2. Credit report shall maintain accounts of requests on provision of credit reports and accounts of provided credit reports.
      3. The request shall be filed on behalf of recipient of its specially authorized person, responsible for filling of request to the credit bureau, information on which is contained in the register of recipient of credit bureau.
      3-1. The consent of subjects of credit history on issuance of credit report on them on paper media shall be stored by recipients of credit reports not less than ten years from the date of reception of the consent of subject of credit history.
      4. Provision of credit report by the credit bureau to the subject of credit history shall be carried out in relation of it on the basis of written request of the subject of credit history.
      5. Information about all facts of provision of credit reports on credit history of this subject with specification of the date of issuance, names and requisites of recipients, previously occurred for the subject of credit history shall be contained in the credit report.
      6. The credit bureau shall be obliged to specify all of information providers and the date of reception of this information by credit bureau upon provision of credit report.
      7. Provision of credit report shall be carried out on the grounds, conditions and in the manner provided by the legislation of the Republic of Kazakhstan.
      8. The credit bureau shall bear responsibility, established by the legislation of the Republic of Kazakhstan on administrative infractions for misrepresentation of information, received from information providers.
      Footnote. Article 29 as amended by the Laws of the Republic of Kazakhstan dated 27.07.2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 23.10.2008 No. 72-IV (the order of enforcement see Article 2); dated 28.12.2011 No. 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).

Article 30. Payment for services on provision of
information and credit reports

      For the services, rendered by information providers and credit bureau shall be established the payment, amount and procedure of collection of which is determined in accordance with agreement.
      The payment shall not be charged by credit bureau for provision of information by information providers to the credit bureau, for reception of information and credit reports by the authorized body.
      Footnote. Article 30 as amended by the Laws of the Republic of Kazakhstan dated 27.07.2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication); dated 23.10.2008 No. 72-IV (the order of enforcement see Article 2).

Chapter 6-1. Features of provision of information and reception
of credit report on bank guarantees and sureties

      Footnote. The Law is supplemented by chapter 6-1 in accordance with the Law of the Republic of Kazakhstan dated 28.12.2011 № 524-IV (shall be enforced upon expiry of ten calendar days after its first official publication).

Article 30-1. Provision of information on bank guarantees and
sureties to the credit bureau

      1. The banks shall provide information on bank guarantees and warrantees, the list of which is established by paragraph 3 of this Article, to the credit bureau with the state participation and in existence of the consent of person – debtor for provision of details on it by bank and guarantees or sureties, issued by bank upon the application of person – debtor to other credit bureau on the basis of agreements on provision of information.
      2. The form of the consent of a person-debtor for provision of details on it by bank and guarantees or sureties to the credit bureau upon the application of a person-debtor shall be established by the regulatory legal acts of the authorized body.
      3. Information on guarantees and sureties, provided to the credit bureau and issued by bank shall contain:
      1)-4) shall be deemed to have lost force by the Law of the Republic of Kazakhstan 12.01.2012 No. 538-IV (shall be enforced from 01.01.2013)
      4-1) the name of legal entity – debtor, under the instruction of which the guarantee or surety are issued by bank, the number and date of the state registration as legal entity, business identification number;
      4-2) surname, first name, patronymic (in its existence) of legal entity – debtor, under the instruction of which the guarantee or surety are issued by bank, the date of birth, place of residence, legal address, the name and requisites of the document of identification, personal identification number;
      4-3) the name of legal entity - creditor of the debtor, for the benefit of which the guarantee or surety are issued by bank, as well as information on date of the state registration as legal entity, business identification number (or other information, provided by the legislation of the state, in which the non-resident is registered, identifying it as a legal entity);
      4-4) surname, first name, patronymic (in its existence) of individual – creditor, for the benefit of which the guarantee or surety are issued, personal identification number, as well as information the date of birth, place of residence, legal address, the name and requisites of the document of identification (or other personal data, provided by the legislation of the state, in which the non-resident is registered);
      5) the name of bank, issued the guarantee or surety;
      6) the number and date of agreement of bank guarantee or surety;
      7) the maximum amount of money, subjected to the payment on agreement of bank guarantee or surety, unless otherwise established by agreement by bank guarantee or surety;
      8) the term on which the bank guarantee or surety are issued, or the circumstance (event), upon occurrence of which the obligation of bank, issued the bank guarantee or surety (validity of bank guarantee or surety) is terminated, unless otherwise established by agreement of bank guarantee or surety;
      9) the number and date of issuance of bank guarantee or surety.
      The list of information, provided by this paragraph may be supplemented by agreement between the credit bureau and bank on the basis of agreement on provision of information, concluded by them, if it is does not contradict to the requirements, established by the legislation of the Republic of Kazakhstan.
      4. Conditions of provision of information by banks on issued bank guarantees and sureties to the credit bureau shall be determined by agreement on provision of information, concluded in accordance with paragraphs 1 and 2 of Article 27 of this Law.
      5. Information on bank guarantees and sureties shall be provided by banks to the credit bureau on electronic media. The case of provision of information on paper media shall be determined by internal documents of credit bureau and agreements, concluded by them with information providers.
      6. The banks shall maintain accounts of the consents of persons-debtors, received by them for provision of details on them by bank and issued bank guarantee or surety to the credit bureau (except for the credit bureau with the state participation).
      Footnote. Article 30-1 as amended by the Laws of the Republic of Kazakhstan dated 12.01.2012 No. 538-IV (the order of enforcement see Article 2); dated 27.04.2015 No. 311-V shall be enforced upon expiry of ten calendar days after its first official publication).

Article 30-2. Formation of credit report on bank
guarantee and surety

      1. The credit bureau shall be obliged to form the credit report on bank guarantee or surety on the basis of information, provided by bank in accordance with paragraph 3 of Article 30-1 of this Law.
      2. The credit report on bank guarantee and surety shall be formed separately for each guarantee, issued by bank or each surety, issued by bank.

Article 30-3. Procedure of provision of credit report on
bank guarantee and surety

      1. The ground for presentation of credit report on bank guarantee or surety shall be the consent of person-debtor for provision of this report by credit bureau to the person, for the benefit of whom the bank guarantee or surety are issued by bank.
      2. Procedure of provision of credit report on bank guarantee and surety shall be established by the regulatory legal acts of the authorized body.

Chapter 7. Final provisions

Article 31. Features of resolution of disputes

      1. An application of the subject of credit history on challenge of information, contained in the credit report, submitted by them to the credit bureau or information provider shall contain the surname, name, patronymic, place of residence, legal address and data of document of identification of legal entity, as well as specification to the challenged information and requirement on provision of reliable information. An application shall be signed by the applicant or its authorized body. The application may be accompanied by copies of the documents on which the applicant is referred.
      2. Information provider or credit bureau shall be obliged to consider application and perform one of two actions, provided by paragraphs 3 and 4 of this Article during fifteen business days from the date of reception of application.
      3. In the case if misrepresentation of information, received by the credit bureau occurred due to the technical errors of information provider or credit bureau, due to other actions or omission of their servants, the information provider shall be obliged to provide the information available to the information provider on the date of detection of misrepresentation during ten business days from the date of detection of committed misrepresentation.
      4. In the case if the challenged information corresponds to the details of credit bureau, information provider, the information provider and (or) credit bureau shall direct the written refusal in approval of application to the applicant with specification of sources of reception of challenged information in the term, specified in paragraph 2 of this Article.
      5. In the case if the applicant, received the refusal in approval of application is applied repeatedly, the expenses referred with its filling, processing and direction of substantiated response shall be imposed to the applicant.
      In the existence of disagreements on distribution of expenses, the disputes shall be considered in a judicial procedure.
      Footnote. Article 31 as amended by the Law of the Republic of Kazakhstan dated 27 July, 2007 No. 317 (shall be enforced upon expiry of 10 calendar days after its first official publication).

Article 32. Responsibility for violation of the legislation
of the Republic of Kazakhstan on credit bureaus and
formation of credit histories

      Violation of the legislation of the Republic of Kazakhstan on credit bureau and formation of credit histories shall entail responsibility, provided by the Laws of the Republic of Kazakhstan.

      The President
      of the Republic of Kazakhstan