Article 2-1. The main purpose, objectives and principles of state regulation in the field of collection activities of the Law on Collection Activities

Home / RLA / Article 2-1. The main purpose, objectives and principles of state regulation in the field of collection activities of the Law on Collection Activities

1. The main purpose of state regulation in the field of collection activities is to establish the legal basis for the activities of collection agencies.

2. The main objectives of state regulation in the field of collection activities are:

1) setting standards for the activities of collection agencies;

2) establishing the procedure for the interaction of collection agencies with the debtor and (or) his representative, and (or) a third party bound by obligations under a bank loan agreement or a micro-loan agreement;

3) ensuring an appropriate level of protection of the rights and legitimate interests of debtors and (or) their representatives, and (or) third parties bound by obligations under a bank loan agreement or a microcredit agreement.

3. The main principles of state regulation in the field of collection activities are:

1) transparency of collection agencies' activities;

2) improvement of standards, methods of regulation and control over the activities of collection agencies;

3) responsibility of collection agencies.

The Law of the Republic of Kazakhstan dated May 6, 2017 No. 62-VI.

This Law regulates public relations related to the implementation of collection activities, establishes the specifics of the creation and operation of collection agencies, and also defines the specifics of state regulation of collection agencies and control over their activities.

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