Law on Organization, Formation, and Circulation of Credit Histories (Law No. 2704-IV of 2005)

Ukraine

(amended through 2009)

The Law on Organization, Formation, and Circulation of Credit Histories (Law No. 2704-IV of 2005) regulates credit bureaus in Ukraine.

The purpose of this law is regulation of relations arising in the sphere of collection, processing, storing, protection, and use of information on fulfillment by subjects of financial liabilities and ensuring rights and interests of subjects of credit histories. 

This law provides for:

  • The legal and institutional frameworks for formation of and maintaining credit histories;
  • The rights of credit histories and users of credit bureau;
  • Requirements for information protection;
  • Credit history;
  • Order of formation; and
  • Activities and elimination of credit bureaus.

An official English summary of this law can be found at http://zakon.rada.gov.ua/cgi-bin/laws/anot.cgi?nreg=2704-15