Credit Registry Law

Original Language Title: Kredītu reģistra likums

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Read the untranslated law here: https://www.vestnesis.lv/ta/id/249046


The Saeima has adopted and the President promulgated the following laws: the credit registry law chapter I General provisions article 1. The law is applied in the following terms: 1) with the financial services credit risk — to your or other party provides leasing, factoring, loan (credit) or other money transfer or money transfer to the obligation the promise to give it; 2) a member of the credit register (hereinafter register) — merchant, which provides financial services in Latvia with the credit risk or which Latvia takes over claims arising from financial services to credit risk, and who is one of the following operators: (a) a credit institution registered in Latvia) and its equivalent in another country registered merchant, who opened a branch in Latvia, Latvia b) registered company to which the law of credit institutions has close links with a credit institution registered in Latvia or the equivalent in another country a registered merchant (c) in another State), established in paragraph 2 of this article "b" company referred to in paragraph equivalent to the merchant, who opened a branch in Latvia, d) credit unions established in Latvia, Latvia registered merchant e) who has the right to take insurance, and its equivalent in another country registered merchant, who opened a branch office in Latvia; 3) registry member with limited status (hereinafter referred to as the restricted registry member) — merchant who lost status and members of the registry to register the membership loss to date in the credit register (hereinafter register) information about a client or customer's guarantor's obligations, if not ended, or if the customer agreement or the guarantor's customer contract rights and obligations or claims have not been transferred to another person; 4) former member of the register: a merchant who: (a) a member of the registry) lost status, if registry membership loss the day all customers or customer's guarantor liability, for which the registry's participants in the register news is ended, or if the customer agreement or the guarantor's customer contract rights and obligations or claims passed to another person, (b)) lost the limited membership of the register; 5) client — the person who, on the basis of a written agreement, Latvia shall receive the credit risk of financial services (hereinafter referred to as the customer agreement) or to which members of the register on the basis of a written contract, Latvia takes over from the customer's contract, right of action. The customer is not considered to be a central bank, a credit institution, a Credit Union, an electronic money institution, money market fund investment management company within the meaning of the law, as well as the original public law legal person; 6) client commitments: customer agreement set out in the existing and potential customer's payment obligations; 7) potential customer: the person who registers a participant submitted a written application expressed the intention of becoming a client; 8) customer's guarantor, a person who, on the basis of a written contract (warranty), it identifies the extent of the obligations entered into by Latvia to respond about the customer's obligations, the customer of them not releasing (the guarantor's customer agreement), or for which the registry operator, on the basis of a written contract, Latvia takes over from the customer's contract, the guarantor's right of action. On the customer's guarantor should not be considered as a central bank, a credit institution, a Credit Union, an electronic money institution, money market fund investment management company within the meaning of the law, as well as the original public law legal person; 9) customer's guarantor's undertaking, the guarantor's customer contract existing and potential customer's guarantor of payment obligations; 10) possible customer's guarantor, a person whose registry the participant submitted a written application expressed intention to become customer's guarantor; 11) consumer creditor — a person who deals with consumer lending: a) a natural person who is a declared residence address within the European Union or European economic area country, (b)) of the European Union or the European economic area country to a person not a party to the register, and the equivalent person registered in another country, which the European Union or the European economic area country opened its branch; 12) General news-register shall include the particulars of the customer and the customer's guarantor's obligations (including the representative information, financial market supervision and macro-economic analysis and the date on which this information included in the register or repaired), except for periodic news; 13) recurrent messages: the register shall include the particulars of the customer and the customer's guarantor's obligations (including the representative information, financial market supervision and macro-economic analysis and the date on which this information included in the register or repaired), which are included in the registry only on certain period expires and is not updated during the period in question; 14) financial market supervision and macro-economic analysis News — General and periodic messages, which register shall include only to stimulate the financial market and macroeconomic analysis, and the disclosure of which another participant in the register, limited register another participant, customer, vendor, customer's guarantor, another institution or person can cause damage to the registry or registry operator limited participant, revealing the relevant registry or limited register participants participant's restricted access information or threaten the client's and customer's guarantor liability for smoothly; 15) qualifying holdings — a person or more persons (which on the agreement, the concert) for direct or indirect participation, which covers 10 percent of the company's share capital and number of shares or voting shares or allows significantly affect the company's financial and operational policy; 16) control — the State in which the person is a decisive influence in the company on the basis of participation or group contract, and state that the company exists between the person and the analogous relation. 17) subsidiary company: a company that is controlled by another company. 2. article. The aim of the law is: 1) contribute to the promotion of Latvia's financial stability, providing: (a) registry operator) more opportunities to evaluate his client, the possible customer, customer's guarantor and the guarantor of the creditworthiness of the customer possible, b) limited a member of the register additional opportunities to evaluate his client's and customer's creditworthiness of guarantors, c) financial and capital market Commission additional opportunities to get financial market supervision in the necessary information in the Bank of Latvia, d) additional opportunities to get financial statistics required, e) the financial and capital market Commission and the Latvian Bank with additional opportunities to get the macroeconomic analysis the necessary information; 2) to contribute to responsible consumer lending as well as borrowing in good faith and, providing: (a) a creditor of the consumer) additional opportunities to assess the creditworthiness of the consumer, b) registry participant additional opportunities to evaluate whether the relevant registry the participant's client and potential client is the consumer of the consumer protection law; 3) to contribute to the tasks of the public administration for the promotion of national institutions, providing additional opportunities to get information necessary for analysis of the statutory tasks, as well as provide additional opportunities in financial difficulty the client and client's obligations of the guarantor. 3. article. (1) the register is a national information system, and its curator is a Latvian Bank. (2) the Bank of Latvia to independently maintain and develop the register, as well as the security of the register management, ensuring its conformity with the requirements of this law. The registry is not included in the national integrated information system. (3) the technical means, to ensure the functioning of the register, is the property of the Bank of Latvia. 4. article. (1) the register shall include the details that this law, in accordance with the procedure laid down in article 5 have not been disclosed and made public, have limited access to information that may be used and disclosed only in the cases prescribed in this Act and in order. (2) the Bank shall have the right to issue the register shall include the particulars set out in this law, only persons in accordance with the procedure laid down in this Act. (3) the customer and customer's guarantor is entitled from the registry received messages freely disclose and otherwise use. (4) the register of members and register of members is limited to the right of the registry received messages to only use this law intended to disclose the customer and the customer's guarantor, as well as to provide the Court and the Tribunal. (5) a person who, in accordance with the provisions of this law are entitled to receive from the registry, they may be used only for this purpose provided for in the Act, disclose the customer, the customer's guarantor, registry operator or the registry a limited participant that relevant information in the register. (6) the use of the information contained in the register provided for in this Act for the purpose of the Bank of Latvia and the financial and capital market Commission has the right to provide this information in Latvian and other government bodies in accordance with the financial market participants and regulatory oversight of operations, as well as the laws governing the national statistics to the requirements of the law. 5. article. The Bank of Latvia and the financial and capital market Commission has the right to express and share aggregate information contained in the register and review the way that it is not possible to directly or indirectly identify the customer, the customer's guarantor, register of members or record players limited and can not cause damage to the economic interests of the country. 6. article. Register in the newsletter is informative in nature and are not evidence of client and client the guarantor's undertaking and the presence or absence of infringement. 7. article. News register shall include the Latvian language. A natural person's name, which is not a Latvian citizen or non-citizen, as well as other country name of the person registered in the register shall include, using the Latin alphabet. Chapter II Register messages to be included in article 8. The register shall include details of: 1) registry member and limited Member registry customer, customer commitments and obligations of the client. The register shall also include the information this news representative and the date on which this information included in the register or repaired; 2) registry and the registry of participants limited participant's customer's guarantor, the guarantor of the obligations of the customer and the customer's guarantor's undertaking violations. The register shall also include the information this news representative and the date on which this information included in the register or repaired; 3) on the Register request message. 9. article. Correcting and updating the Register message, included in the registry that you want to delete the previous message. 10. article. The Bank of Latvia determines the register to be included in the message content and volume. Chapter III the inclusion in the register News article 11. (1) information about a client, the client's obligations and liabilities of the customer, as well as details of the customer's guarantor, the guarantor of the obligations of the customer and the customer's guarantor's undertaking shall be recorded in the register of infringements the Member. Registry participant articulates the register shall include the particulars, if they change, except for periodic messages. (2) limited a member of the registry, the registry shall include those of the customer or customer's guarantor's obligations for which this limited registry Member News included in the registry to register the membership loss, and on the day the customer or customer's guarantor's undertaking violations. Limited registry participant articulates the register shall include the particulars, if they change, except for periodic messages. (3) If the information contained in the Register request register, limited register, or the members of the financial and capital market Commission, article 8 of this law, 3. the information referred to in paragraph 1 are included in the registry automatically. If the information contained in the register a customer requests the customer's guarantor, the consumer's creditors, the Bank of Latvia or 19 of this Act or a person referred to in article 20 of this law, article 8, paragraph 3 of the particulars of the request message includes the register of the Bank of Latvia. 12. article. Registry operator or the registry member before a limited message about the customer or the customer's guarantor's undertaking violations included in the registry shall inform the customer or customer's guarantor. 13. article. Time limits and order in which the message is to be included in the registry, established the Bank of Latvia. Chapter IV on the register news service article 14. (1) client, and the client shall be entitled to receive free of charge the registry yourself. The customer and the customer's guarantor is not entitled to the financial market and macroeconomic analysis. (2) If, after the customer or customer's guarantor request the register shall include the particulars served by sending by mail, the customer or the customer's guarantor pays the Bank of Latvia on postal services in accordance with the postal service. 15. article. (1) a participant is entitled to receive registry includes information pertaining to the following persons: 1) the registry of client participants; 2 this register member) customer's guarantor; 3 members of this register is possible) customers; 4 members of this registry) the potential customer's guarantor; 5) person with a significant interest in the company, which is a member of this registry customer, customer's guarantor, potential customers or potential customers of the guarantor; 6) company that is a member of this registry customer, customer's guarantor, potential customer or potential customer of the subsidiary guarantors, and every subsequent such subsidiaries subsidiaries; 7) company in which the participant of this registry customer, customer's guarantor, potential customer or potential customer's guarantor has a significant interest; 8 participants this registry customer), the customer's guarantor, potential customer or potential customer's guarantor and member of the Management Board, if one is created. (2) a member is not entitled to: 1) other registry members or other participants in the register the register limited in financial market supervision and macro-economic analysis; 2) messages, which allows you to identify the other participants in the registry or other registry members limited, who included this article in the register referred to in the first subparagraph; 3) news on the news on the Register request made by other members of the registry, other limited registry participant, customer, customer's guarantor, the consumer's creditors or other person. (3) the register of members is limited to the right to register shall include the particulars about the limited registry member client and customer's guarantor. (4) a limited registry member is not entitled to: 1) referred to in the second subparagraph of article; 2 other registry members) or other restricted registry Member registry includes information on his customer or customer's guarantor's obligations once they have ended, or if the customer agreement or the guarantor's customer contract rights and obligations or claims passed to another person; 3 other registry members) or other restricted registry Member registry includes information about his client or the client's violation of the guarantor, who is eliminated. 16. article. (1) a creditor of the consumer with the consent of the individual concerned has the right to be included in the register particulars relating to this individual.
(2) a creditor of the consumer is not entitled to: 1) financial market monitoring and analysis of macroeconomic news; 2) information enabling the registry or the registry of members limited participants, who included this article in the register referred to in the first subparagraph; 3) news on the news on the Register request. Article 17. The Bank of Latvia by the customer and the customer's guarantor, as well as the registry operator for registry member and limited consumer vendor served on the Register message volume, as well as news and mail costs and arrangements. 18. article. (1) the financial and capital market Commission is entitled to receive all the information contained in the register the statutory tasks, including the information required pursuant to legislation established a competency check registry participants observe the operation of the register of regulatory legislation. (2) the Bank shall have the right to receive all the information contained in the register the statutory tasks, including the information required pursuant to legislation established a competency check registry participants and restricted registry participants observe the operation of the register of regulatory legislation. (3) the period within which, and the procedure by which, the financial and capital market Commission in question is included in the register, determined by the Bank of Latvia. 19. article. If before the tax audit (audit) of the initiation of the State revenue service has reason to believe that natural persons (residents) costs would exceed income, this service has the right to tax audit (audit) the need analysis, on the basis of the State revenue service, the Director-General or Deputy Director-General of the State revenue service notified the Department head or Deputy tax administration written request, receive the register shall include the particulars of the relevant client — natural persons (residents) and his obligations This client connection types:, start date and end date, volume, balance, period, register of members or record players limited that this information in the register as well as information on the number of customers for the relevant customer relation. 20. article. The register shall include the particulars of the register of members and register of members restricted, which in the register the particulars of the customer and the customer's guarantor and the guarantor of the customer and the customer's obligations start date and end date of the statutory tasks has the right to: 1); 2) pre-trial investigation authority and the public prosecutor's Office; 3) operational entity; 4) national revenue; 5) Criminal money laundering prevention service; 6) corruption prevention and combating Bureau; 7) the insolvency administrator. 21. article. (1) the Bank shall, without delay, but no later than three working days after receipt of a written request, in writing, issue free of charge this law, article 19 and 20 of the persons referred to in the articles listed in the said register. (2) if the law or international treaty ban on news on the Register request to inform the customer, customer's guarantor or other persons, the news presented in the request and the basis for this prohibition. The Bank of Latvia, in the registry, not to disclose details of such request. (3) this law, in article 19 and 20 of the said persons are responsible for the messages contained in the register is required and used in accordance with the provisions of this law. Chapter v the responsibility for processing the news article 22. (1) the register of members and register of members limited is responsible for ensuring that: 1) in the Register message, which essentially matches the customer's contract and the customer the guarantor of the agreement; 2) all in the register the register action laws regulating specific messages in these laws in the order; 3) requested a news on the register in the cases specified in this law. (2) the Bank is responsible for the compliance of its register of members the Register message and limit the registry's participants included. 23. article. The registry operator for registry limited participant and former member must register one month in which to examine a customer's or customer's guarantor application and reply to it in connection with the registry or the registry of participants limited participant: 1) message on the register in conformity with the customer agreement or the customer's guarantor agreement; 2 the inclusion of messages) in the operation of the registry in the laws regulating the procedures specified; 3) the register shall include the particulars of the request pertaining to the customer or customer's guarantor. 24. article. (1) in the case of Errors in the registry and the registry Member limited right or withdraw on the register. Such repair or cancellation messages does not relieve the registry the registry of members and limited member from this statutory responsibility for message processing. (2) the period within which, and the procedure by which a member of the register and the register of members of the limited right or revoke the registry includes news, down the Bank of Latvia. (3) If the register of members or record players limited clearing members that register or limited Register included in the register of members of the news is not repairable, or revocable, cooperation, starting with the registry or the registry of participants limited participant's completion of the day. (4) a former member of the register the register shall include the particulars are not repairable, cooperation, or to be cancelled, except for the fifth subparagraph of this article, in these cases. (5) the Bank of Latvia no later than five working days or revoke the right messages that former members of the register mistakenly included in the registry if: 1) a former member of the register and the register of this former member of the customer or the customer's guarantor, or the person on the registry contains errors, the Bank of Latvia in accordance with the procedure laid down in the Bank of Latvia in the presence of mutual acknowledgement of the signature in the register mistakenly included the correction or cancellation of messages; 2) Bank receives assurances on the register mistakenly included the correction or cancellation of messages, drawn up in the form of a notarial deed or notarial order signed by former members of the register and the register of members of the former customer or customer's guarantor, or the person specified as such in the register of the flawed; 3) Latvijas Banka receives, having been convicted by a court ruling that found from the register the particulars included in the essence of different content of rights and obligations in relation to the register of members of the former customer or customer's guarantor, or the person, as specified in the registry. 25. article. (1) for the inclusion in the agenda of the violation messages, which cannot be prevented or that participants register, limited register, or the members of the former members of the registry is not correct and that caused or may be material injury caused to the customer or customer's guarantor, a person specified as such in the registry error, other members of the register, the register of members of another limited, consumer's creditors or Government interests, or for news on the register does not justify requesting the Management Board of the Bank of Latvia expressed registry participant limited registry, Member or former member of the registry warning. (2) for the inclusion in the agenda of the violation messages that participants register, limited register, or the members of the former registry is prevented if the registry erroneously included messages to the repair or at the time of cancellation is received by another Member of the registry, the registry operator or limited the creditor and the consumer has suffered material injury, or customer's guarantor, a person specified as such in the registry error, another Member of the registry , another Member of the register of limited or consumer interests of the creditor, the Bank of Latvia Board member expressed limited registry registry participant or former participant registry warning. (3) on the first or second subparagraph, the inclusion of the report or on the report on the register to request without justification during the year, the Management Board of the Bank of Latvia puts on the registry, the registry operator for the limited member or former member of the register of 1000 fine up to 5000 lats. (4) Notwithstanding the warning or the imposition of the fine registry Member, a limited registry participant, and former member of the registry is obliged to immediately prevent the inclusion of policy violation messages. 26. article. (1) If a participant in the register, the limited register, or the former participant registry participant puts on fine and the Bank of Latvia Board finds that the imposition of the fine members of the register, the limited register, or the members of the former registry participant committed two or more news agenda of inclusion violations, fines imposed on all the relevant news inclusion violations along this law, article 25 of the fine provided for in the framework. (2) If a participant in the register, the limited register, or the former participant registry participant puts on fine and the Bank of Latvia Board finds that the imposition of the fine members of the register, the limited register, or the members of a former member of the register two or more times wrongly claimed a register shall include the particulars of the fine imposed on all relevant details on the register of unreasonable requests along this law, article 25 of the fine provided for in the framework. 27. article. (1) For the inclusion in the agenda of news infringement fines imposed not later than six months after the date of disclosure of the breach. (2) The register shall include the message requesting unjustified fines imposed not later than one year following the news on the register date of request. 28. article. (1) upon disclosure of possible this law infringement referred to in article 25, the Chairman of the Management Board of the Bank of Latvia, Deputy or member of the Board of the Bank of Latvia have the right to register, members of the restricted registry members or former members of the registry, customer, customer's guarantor and others which might have information about possible this law infringement referred to in article 25, to request the information you need to make a decision on administrative proceedings. (2) in the first subparagraph of this article, the requested information to be provided not later than seven working days after the Chairman of the Management Board of the Bank of Latvia, Deputy or member of the Executive Board of the Bank of Latvia's receipt of the request. If objective reasons such term the required information cannot be provided, the Bank of Latvia Board Chairman, his Deputy, or the Bank of Latvia Board member can detect other presentation of information. (3) the Management Board of the Bank of Latvia does not propose the Administrative Affairs, if the information does not contain details of possible offences which are referred to in this law, the composition of the infringement. 29. article. The Bank of Latvia Board issued administrative act may be challenged by the Bank of Latvia to the Council of the administrative procedure law and the term. 30. article. Registry members, restricted or former members of the register the register of members in favour of the penalty paid by the State budget. Chapter VI fees for registry use of article 31. (1) the register of members the register of members, limited and the financial and capital market Commission of Latvia pay the Bank a fee for the use of the register to cover the living expenses of the registry. (2) a creditor of the consumer, requiring the register shall include the message, each time paying the Bank of Latvia register fees, to cover messages on the register of the registry maintenance expenses. (3) the fee for the use of the registry does not pay the registry member and limited registry, which the Court declared bankrupt or who initiated the process of liquidation. (4) the Bank shall fix the fees for the use of the registry and payment arrangements. (5) the fee for the use of the register should include the Bank of Latvia. 32. article. The Bank of Latvia has the right to partly cover the expenses for the maintenance of the register, if this law referred to in article 31, the fee does not cover all the expenses for the maintenance of the register. Chapter VII on the Register message storage article 33. Information about a client or customer's guarantor and of General information about a client or customer's guarantor's obligations in the Bank of Latvia register 15 years after: 1) customer or customer's guarantor's obligation has ended; 2) date of contract of the customer or the guarantor's customer contract rights and obligations or claims passed to another person; 3 former members of the registry) status days except when joined 1 or 2 of this article, paragraph. 34. article. Periodic messages in the Bank of Latvia register three years after the end of the period. 35. article. Details of the customer's or customer's violation of the guarantor of the Bank in the register: 1) five years after the customer or customer's violation of the prevention of the guarantor; 2) 15 years after the customer or customer's guarantor's termination date or from the date of the customer's or customer's guarantor of rights and contract obligations or claims passed to another person, if the customer or the customer's guarantor shall not prevent infringements; 3) 15 years after a former member of the registry status days except when joined 1 or 2 of this article, paragraph. 36. article. The news about the news on the register of the Bank of Latvia require stores one year after the date of request. 37. article. The Bank of Latvia register included in the delete messages after a specified in this chapter may be stored on a deadline. Transitional provisions 1. within a period of one month after the date of entry into force of the law on the Bank of Latvia register included in the delete messages, which under this Act has expired, the period of storage. 2. The law does not apply to credit institutions and credit unions, which until June 1, 2003 for recognition as assets or bankrupt. 3. If a member of the liquidation of the register started from June 2, 2003, to December 31, 2007, a member of the registry include the right, updates or revoke its register includes the information that the registry member in the register of the Debtor within the time limit referred to in this paragraph. 4. The Act applies to a limited register, which limited membership of the register after this law won the date of its entry into force. Informative reference to European Union directive included provisions in the law arising from the European Parliament and of the Council of 23 April 2008. Directive 2008/48/EC on credit agreements for consumers and repealing Council Directive 87/102/EEC.
The law shall enter into force on December 1, 2012. The Parliament adopted the law of 24 may 2012.
The President a. Smith in 2012 on June 13.