Resolution of the National Bank of the Kyrgyz Republic No. 2022-P-14/27-3-(PS) of 27 April 2022 on Amending Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of 27 April 2022 No. 2022-P-14/27-3-(PS)

On Amending Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic

In accordance with Articles 20 and 68 of the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activities" and Article 26 of the Law of the Kyrgyz Republic "On the Payment System of the Kyrgyz Republic", the Board of the National Bank of the Kyrgyz Republic resolves:

1. To amend the following resolutions of the Board of the National Bank of the Kyrgyz Republic (attached):

• "On Approval of the Regulation 'On Licensing the Activities of Payment Organizations and Payment System Operators' of 2 September 2019 No. 2019-P-14/46-1-(PS);

• "On Approval of the Regulation 'On Regulating the Activities of Payment Organizations and Payment System Operators' of 30 September 2019 No. 2019-P-14/50-2-(PS).

2. The Legal Department shall:

• publish this resolution on the official website of the National Bank of the Kyrgyz Republic;

• after official publication, send this resolution to the Ministry of Justice of the Kyrgyz Republic for inclusion in the State Register of Regulatory Legal Acts of the Kyrgyz Republic.

3. This resolution enters into force upon the expiry of seven working days from the day of official publication.

4. The Payment Systems Department shall bring this resolution to the attention of payment organizations and payment system operators and the Legal Entity Association "Association of Payment System Operators of the Kyrgyz Republic".

5. The State Language and Document Management Development Division shall bring this resolution to the attention of the relevant structural subdivisions, regional departments and the representative office of the National Bank of the Kyrgyz Republic in Batken Oblast.

6. Control over the execution of this resolution shall be assigned to the member of the Board of the National Bank of the Kyrgyz Republic supervising the Payment Systems Department.

Acting Chairman:	Z. Chokoev

	Annex to the Resolution of the Board of the National Bank of the Kyrgyz Republic of "27" April 2022 No. 2022-P-14/27-3-(PS)

Amendments

to Certain Regulatory Legal Acts of the National Bank

of the Kyrgyz Republic

1. To make the following amendments to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On Licensing the Activities of Payment Organizations and Payment System Operators' of 2 September 2019 No. 2019-P-14/46-1-(PS):

in the Regulation "On Licensing the Activities of Payment Organizations and Payment System Operators" approved by the above-mentioned resolution:

• paragraph 2-1 shall be supplemented with a third paragraph of the following content:

"A payment system operator/payment organization shall be entitled to engage only in those types of activities specified in the license, as well as to provide consulting/information services and carry out other activities that are ancillary to its main activity or necessary to ensure its main activity, in accordance with paragraphs 7 and 29 of the Regulation 'On Regulating the Activities of Payment Organizations and Payment System Operators' approved by resolution of the Board of the National Bank of the Kyrgyz Republic of 30 September 2019 No. 2019-P-14/50-2-(PS).";

• paragraph 7 shall be supplemented with eleventh and twelfth paragraphs of the following content:

"The terms 'significant participation' and 'control' shall be understood in the meanings specified in Article 85 of the Law of the Kyrgyz Republic 'On the National Bank of the Kyrgyz Republic, Banks and Banking Activities'.

The criteria of the concept 'impeccable business reputation' shall be understood in the meanings specified in Article 108 of the Law of the Kyrgyz Republic 'On the National Bank of the Kyrgyz Republic, Banks and Banking Activities'.";

• the second paragraph of paragraph 14 shall be supplemented with a sentence of the following content:

"This requirement shall not apply to the National Bank of the Kyrgyz Republic if it acts as one of the shareholders (founders)/participants of a payment organization/payment system operator.";

• the first sentence of paragraph 17-1 shall be restated as follows:

"Together with the submission of the documents provided for by this Regulation, the applicant, payment organizations/payment system operators, and natural and legal persons must provide consent to the collection and processing of personal data in accordance with Annex 8 to this Regulation in respect of persons whose personal data are submitted to the National Bank.";

• in paragraph 19:

the third paragraph of subparagraph 13 shall be restated as follows:

"- a copy of the declaration of income and social contributions as at the date of submission of documents in the form provided for by the legislation of the Kyrgyz Republic; for a natural person who is a non-resident, it is necessary to provide similar documents in accordance with the legislation of the country of origin, as well as a document confirming the absence of tax arrears;";

• shall be supplemented with a thirty-second paragraph of the following content:

"The requirements of subparagraphs 2, 3, 4, 5, 6, 13 of this paragraph shall not apply to the National Bank of the Kyrgyz Republic if it acts as one of the shareholders (founders)/participants of a payment organization/payment system operator.";

• in paragraph 19-1:

the third paragraph of subparagraph 19 shall be restated as follows:

"- a copy of the declaration of income and social contributions as at the date of submission of documents in the form provided for by the legislation of the Kyrgyz Republic; for a natural person who is a non-resident, it is necessary to provide similar documents in accordance with the legislation of the country of origin, as well as a document confirming the absence of tax arrears;";

shall be supplemented with a fifty-fourth paragraph of the following content:

"The requirements of subparagraphs 2, 3, 4, 5, 6, 19 of this paragraph shall not apply to the National Bank of the Kyrgyz Republic if it acts as one of the shareholders (founders)/participants of a payment organization/payment system operator.";

• in paragraph 39, the words "shareholders (founders)/participants/Board of Directors of a payment organization/payment system operator (if any)" shall be replaced by the words "shareholders (founders)/participants or the Board of Directors of a payment organization/payment system operator (if any)";

• subparagraph 5 of paragraph 47 shall be restated as follows:

"5) not have a criminal record.";

• Annex 2 in the official language, before the word "Questionnaire" in the left corner, shall be supplemented with the words "(place for photo)";

• Annex 3, before the word "Questionnaire" in the left corner, shall be supplemented with the words "(place for photo)";

• in Annex 8, after the form for filling in personal data:

in the official language, in the third paragraph, after the words "international treaties", the punctuation mark "." shall be replaced by the marks ");";

in the state language, in the third paragraph, the mark "." shall be replaced by the mark ";";

shall be supplemented with a fourth paragraph of the following content:

"- cross-border transfer of personal data (transfer by the National Bank of personal data to holders located under the jurisdiction of other states) of all personal data provided by me in accordance with banking legislation.".

2. To make the following amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On Regulating the Activities of Payment Organizations and Payment System Operators' of 30 September 2019 No. 2019-P-14/50-2-(PS):

in the Regulation "On Regulating the Activities of Payment Organizations and Payment System Operators" approved by the above-mentioned resolution:

• paragraph 83 shall be supplemented with a thirteenth paragraph of the following content:

"The requirements of the third, fourth and fifth paragraphs of this paragraph shall not apply to the National Bank of the Kyrgyz Republic if it acts as one of the shareholders (founders)/participants of a payment organization/payment system operator.".