English to German Law/Patents Government / Politics

It is open to Member States to regulate the credit servicing activities that do not fall within the scope of this Directive, such as services offered for credit agreements issued by non-credit institutions or credit servicing activities performed by natural persons, including by imposing requirements equivalent to those under this Directive.
Those entities, however, would not benefit from the possibility to passport such services to other Member States.

The authorisation of a credit servicer to provide credit servicing activities throughout the Union should be subject to a uniform and harmonised set of conditions that should be applied in a proportionate manner by the competent authorities.
A credit servicer authorisation covers credit servicing activities irrespective of the type of credits.
Therefore, the credit servicers may passport themselves for servicing performing loans in Member States were performing loans transfer is permitted.
Considering the long-term nature of the relationship between a credit servicer and borrowers as well as the challenging requirements that have to be fulfilled, only a legal person can act as a credit servicer and therefore apply for an authorisation.