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Amendments To The Credit Registry Law

Original Language Title: Grozījumi Kredītu reģistra likumā

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The Saeima has adopted and the President promulgated the following laws: the law on registry of credits do credit Registry Act (Latvian journal, 2012, 2013, 92 no; 187. no; by 2014, No 26) follows: 1. Article 1: turn off the 5 and 8 in paragraph "registry operator"; make point 7 by the following: ' 7) potential customer: a person: (a) the registry operator) which submitted a written application expressed intention to become a customer, (b) against whom the registry members), concluding a written agreement with the holders of other rights, expressed the intention of this legal entity in Latvia to take over from the customer's contract rights and obligations or claims; " make paragraph 10 by the following: ' 10) potential customer's guarantor, a person: (a) the registry operator) which submitted a written application expressed intention to become customer's guarantor, b) against which the registry operator, through a written agreement with the holders of other rights, expressed the intention of this legal entity in Latvia to take over from the guarantor's customer contract rights and obligations or claims; " Add to article 10.1 and 10.2 points with the following wording: "101) possible (letter), the letter of credit by the recipient of the service: the person who registers a participant submitted a written application expressed the intention of Latvia to receive service with which members of the registry shall undertake the obligation to answer for a certain amount of this or the other person's debt against the person and register participants for certain documents and registry members deliver his or another person; 102) can guarantee (guarantee) the recipient of the service: the person who registers a participant submitted a written application expressed the intention of Latvia to receive service with which members of the registry shall undertake the obligation to answer for a certain amount of this or the other person's debt and that the registry provides its members or other persons; "; turn off paragraph 13, the words "and are not updated during the period in question"; make the following point 14:14) "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 operator for registry limited participant or former participant registry discovering relevant registry members, restricted registry members or former members of the register limited availability information, or compromise the customer or customer's guarantor liability for smoothly; ". 2. Express article 2 paragraph 1 of the section "a" the following: "(a) registry operator) more opportunities to appreciate your customer, potential customer, customer's guarantor, the guarantor's potential customers, possible (letter), the letter of credit services and possible guarantee (guarantee) the creditworthiness of the beneficiary of the service,". 3. Express article 8, paragraphs 1 and 2 by the following: "1) registry member and limited registry member customer, customer commitments and obligations of the client (including the representative information and the date on which the register included or corrected); 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 (including the representative information and the date on which they are listed in the registry or repaired); ". 4. in article 11: make second paragraph first sentence by the following: "limited Member shall be recorded in the register the particulars of the client, the client's obligations and liabilities of the customer or customer's guarantor, the guarantor of the obligations of the customer and the customer's guarantor liability for infringements, if this registry a limited participant in the register the particulars of the customer and the respective obligations of the customer or the customer's guarantor and the guarantor's obligations of the client to register the membership loss day."; make the third paragraph as follows: "(3) depending on the message on the register of the type of application of this law article 8, paragraph 3 of the items are included in the register or the register automatically includes the Bank of Latvia." 5. in article 15: to supplement the first part of paragraph 9 and 10 by the following: "9 Member this registry) the alleged letter of credit (letter), the recipient of the service; 10 May this registry of participants) guarantee (guarantee) the recipient of the service. "; Add to article 1.1 part as follows: "(11) if the registry Member refuses to enter into a customer's contract, customer's guarantor of the agreement, the agreement on the letter of credit (letter) or a service agreement for the guarantee (warranty) for the provision of the service or refuse to take over from the customer or the guarantor's customer contract rights and obligations or claims, registry operator is not entitled to receive in the future the register shall include the particulars relating to the first paragraph of this article. The register shall include the particulars relating to the alleged letter of credit (letter), the recipient of the service, or possible guarantee (guarantee), a recipient of the service registry member is not entitled to even after the agreement on the conclusion of the service. "; to supplement the article with a fifth by the following: "(5) a member of the registry, which is a credit information Bureau credit data user the meaning of the law (hereinafter user of credit data), are entitled to register set out in this article shall include the details relating to the first paragraph of this article a person (other than the financial market supervision and macro-economic analysis News), also with credit information Office. Limited registry, which is a credit information, the user is entitled to register set out in this article shall include the details that apply to this limited registry member customer or customer's guarantor (except in the financial market supervision and macro-economic analysis News), also with credit information Office. Credit information Office received messages not used for other purposes as per this post transfer credit information for the user and without following the credit information they stored the user. " 6. Express article 20 paragraph 7 as follows: "7) where the client or the client's guarantors, the insolvency practitioner if the customer or the customer's guarantor is a natural person." 7. Supplement article 24, fourth subparagraph with the sentence the following wording: "the news Registry Repair or cancellation in the fifth paragraph of this article, in the cases referred to shall not relieve the Member from the former registry this statutory responsibility for message handling." 8. Article 27: Add to the first paragraph, after the word "violations" with the words "warning or mention"; to complement the second paragraph after the word "application" with the words "warning or mention". 9. Article 33: turn the introductory article, the words "of the customer's or customer's guarantor's obligations"; 3. turn off the point. 10. Article 35 be expressed as follows: "article 35. Details of the customer's or customer's violation of the guarantor of the Bank of Latvia register kept five years after: 1) customer or customer's violation of the prevention of the guarantor or the date of the customer's or customer's guarantor in a contract, the rights and obligations or claims passed to another person, where to this day a customer or the customer's guarantor's undertaking in the infringement persists; 2) customer or client of the guarantor's undertaking if the termination date, to this day have not joined in the paragraph 1 of this article, these realities. " 11. transitional provisions supplementing paragraph 6 by the following: "6. the amendment of article 15 of this law in the fifth part, associated with the message service registry registry participants and restricted to members with credit information in registry offices, shall enter into force on July 1, 2015." The Parliament adopted the law in 2014 on 16 October. The President a. Smith in Riga 2014 October 29