Resolution on the Approval of the Description of the Procedure for the Issue of a Credit Servicer Licence

BOARD OF LIETUVOS BANKAS
RESOLUTION
ON THE APPROVAL OF THE DESCRIPTION OF THE PROCEDURE FOR THE ISSUE OF A CREDIT SERVICER LICENCE 1 August 2024 No 03-89 Vilnius Acting in accordance with Article 42(4)(1) of the Republic of Lithuania Law on the Bank of Lithuania and Article 5(5) of the Republic of Lithuania Law on Credit Servicers and Credit Purchasers, the Board of Lietuvos bankas has r e s o l v e d:
To Approve the Description of the Procedure for the Issue of a Credit Servicer Licence (attached).
Chairman of the Board Gediminas Šimkus
APPROVED by Resolution No 03-89 of the Board of Lietuvos bankas of 1 August 2024 DESCRIPTION OF THE PROCEDURE FOR THE ISSUE OF A CREDIT SERVICER LICENCE
CHAPTER I
GENERAL PROVISIONS

1. The Description of the Procedure for the Issue of a
   Credit Servicer Licence (hereinafter – the Description of the Procedure) regulates the procedure and conditions for the issue of a licence to a credit servicer operating/to be operating in accordance with the Republic of Lithuania Law on Credit Servicers and Credit Purchasers (hereinafter – the Law).

2. The terms used in the Description of the Procedure shall be understood as defined in the Law.

3. Documents submitted to Lietuvos bankas and actions carried out in accordance with the Description of the Procedure shall be subject to the requirements of the General Regulations on the Submission and Examination of Applications for Authorisation of Financial Market Participants Supervised by the Bank of Lithuania and on the Granting of Authorisation approved by Resolution No 58 of the Board of Lietuvos bankas of 6 May 2004 on the approval of the general regulations on the submission and examination of applications for authorisation of financial market participants supervised by the Bank of Lithuania and on the granting of authorisation.
   CHAPTER II
   APPLICATION FOR A CREDIT SERVICER LICENCE, ACCOMPANYING DOCUMENTS AND DECISION-MAKING

4. To obtain a credit servicer licence, an applicant shall submit to Lietuvos bankas an application for a credit servicer licence in the form set out in the Description of the Procedure (Annex), accompanied by documents specified in the application.

5. Documents accompanying the application shall meet the requirements for the content and format established for such documents.

6. The licence shall be issued to the credit servicer within the time limit specified in Article 5(3) of the Law.

7. Lietuvos bankas shall have the right to request additional documents or clarifications thereof. In such a case, the time limit for examining the application shall run from the date of the submission of the last documents and/or data to Lietuvos bankas.

8. Where during examination of the application the data specified in the application or other submitted documents changes, the applicant must provide Lietuvos bankas with the updated data no later than within
   5 business days of the day of their change.
   CHAPTER III
   AUTHORISATION REFUSAL, SUSPENSION OF VALIDITY OF A LICENCE, LIFTING OF SUSPENSION OF VALIDITY OF A LICENCE AND WITHDRAWAL OF A LICENCE

9. Lietuvos bankas shall have the right to refuse to issue a licence, to suspend validity of a licence, lift suspension of validity of a licence, and to withdraw a licence on the grounds set out in the Law and other legislation.

10. Information on the issue of a credit servicer licence, suspension of validity of a licence, lifting of suspension of validity of a licence or withdrawal of a licence, and on the change of licence details or information shall be published on the website of Lietuvos bankas, taking into account the European Banking Authority’s Guidelines on the establishment and maintenance of national lists or registers of credit servicers under Directive (EU) 2021/2167 (EBA/GL/2024/02).

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Annex
to the Description of the Procedure for the Issue of a Credit Servicer Licence APPLICATION FOR A CREDIT SERVICER LICENCE Name of the legal entity (legal form) Code of the legal person Trademarks used We kindly ask you to issue a credit servicer licence Address ( municipality, city, street, building number, room number, postal code, website address ) Contact details Telephone Email address Person responsible for the application Name and surname Telephone Email address List of persons acquiring (holding) a qualifying holding in the authorised capital and/or voting rights of the credit servicer
1....
2....
....
(natural person’s name and surname, legal person’s name and the acquired (held) holding in the authorised capital and/or voting rights, in percentages) List of the applicant’s managers specified in Article 3(15) of the Republic of Lithuania Law on Credit Servicers and Credit Purchasers (hereinafter – the Law)
1....
2....
....
(name and surname, job title)
List of accompanying documents
Ref.
No
Accompanying documents
Reference numbers (titles) and number of pages of the accompanying document or reasons for non-submission 1.
Document confirming the representative’s right of representation.
2.
Document confirming the payment of a stamp duty for the issue of the credit servicer licence.
3.
Documents confirming the legal form of the legal person (Articles of Association, Memorandum of Association or Articles of Agreement).
4.
Information on the shareholders of the credit servicer.
Questionnaires of participants of a consumer credit provider, creditor, peer-to-peer lending platform operator, currency exchange operator and credit servicer (Annex 2 to the Description of the Procedure for Implementing Requirements for the Participants of Consumer Credit Providers, Creditors, Peer-to-Peer Lending Platform Operators, Currency Exchange Operators and Credit Servicers approved by Resolution No 03-219 of the Board of Lietuvos bankas of 20 November 2018 on the approval of the description of the procedure for implementing requirements for the participants of consumer credit providers, creditors, peer-to-peer lending platform operators, currency exchange operators and credit servicers) and respective attachments. 5. Information on the managers of the credit servicer. Questionnaires of members of the management body and key function holders of a financial market participant supervised by Lietuvos bankas (Annex 4 to the Guidelines for the Assessment of Members of the Management Body and Key Function Holders of Financial Market Participants Supervised by Lietuvos bankas approved by Resolution No 03-181 of the Board of Lietuvos bankas of 14 November 2013 on the approval of the guidelines for the assessment of members of the management body and key function holders of financial market participants supervised by Lietuvos bankas) and respective attachments. 6. Information about the legal person as set out in Article 5(1) of the Law, i.e.:
6.1.
Description of the governance arrangements and internal control system (including risk management and accounting systems) demonstrating that the governance arrangements and internal control system ensure compliance with the legislation governing the debtor’s rights and the creditor’s rights under a credit agreement or the credit agreement as such, and with Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation); 6.2. Description of the policy to ensure compliance with the rules governing the protection of debtor’s rights and the fair and diligent treatment of debtors; 6.3. Description of the internal procedures ensuring the recording and handling of debtors’ complaints; 6.4. Information on the legal person’s decision on the ability to receive and hold funds from debtors; 6.5. Data confirming that the legal person has a separate deposit account as laid down in Article 12(1) of the Law, if it intends to receive and hold funds from debtors as part of its business model; 6.6. Copies of the outsourcing agreements referred to in Article 15 of the Law. 7. Other accompanying documents (where other documents are additionally submitted, this table must be extended to include the titles of the submitted documents) . I hereby confirm that this application and its accompanying documents contain all information established by legal acts, and the data provided are correct and up to date. I understand that Lietuvos bankas may, in accordance with the procedure established by legal acts of the European Union and the Republic of Lithuania, verify the data and information provided by me in this application and other documents, and I do not object to this. I agree that, when verifying the data and information provided by me in this application and other documents, Lietuvos bankas may engage relevant institutions of the Republic of Lithuania and other countries to which the data and information provided by me to Lietuvos bankas may be disclosed in accordance with the procedure established by legislation. Date of completion Position (where signed by an employee of the legal person), signature, name and surname __________________