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ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of January 28, 2019 No. 24

About questions of regulation of activities of members of the security market

For the purpose of reduction of decisions of the Government of the Kyrgyz Republic in compliance with the Law of the Kyrgyz Republic "About the security market", being guided by articles 10 and 17 of the constitutional Law of the Kyrgyz Republic "About the Government of the Kyrgyz Republic", the Government of the Kyrgyz Republic decides:

1. Approve:

- Regulations on the skilled investors and securities intended for acquisition only by skilled investors according to appendix 1;

- Regulations on procedure for passing of obligatory advanced training by workers of the professional participant of the security market according to appendix 2;

- Regulations on procedure for issue and withdrawal of consent to appointment (election) of leading employees of the professional participant of the security market according to appendix 3.

2. Bring in the Order of the Government of the Kyrgyz Republic "About approval of the Regulations on order of registration of rules of mutual investment fund, the prospectus of the issue of investment shares and the report on results of primary placement of investment shares of mutual investment fund" of May 27, 2011 No. 250 the following change:

in Regulations on the order of registration of rules of mutual investment fund, the prospectus of the issue of investment shares and the report on results of primary placement of investment shares of mutual investment fund approved by the above-named Resolution:

- add Item 8 with the paragraph the sixth the following content:

"State registration of conditions of public offer and the securities prospectus it cannot be refused based on inexpediency.".

3. Bring in the Order of the Government of the Kyrgyz Republic "About approval of the Regulations on activities for management of investment assets" of May 27, 2011 No. 251 the following changes:

in the Provision of activities for management of investment assets approved by the above-named Resolution:

- third Item 5 after words to "management of investment assets" to add the paragraph with the words "or during the term of management"";

- in Item 8:

to add the paragraph of "managing company", the sixth after words, with words ", including under agreements on concession of rights to claim";

add with the paragraph the ninth the following content:

"-other securities (domestic or foreign issuers) and financial instruments, including derivative securities and contracts of forward transactions - if beneficiary is person which is the skilled investor.";

- in Item 11:

state paragraph two in the following edition:

"translated and promissory notes, except for management which beneficiary is the skilled investor;";

to declare the paragraph of the sixth invalid;

- add Item 12 with the paragraph the fifth the following content:

"Provisions of this Item do not extend to trust management which beneficiary is the skilled investor.";

- to add Item 15 after the words "trust management" with the word of "cash";

- add Item 19 with the paragraph the second the following content:

"Provisions of this Item do not extend to trust management which beneficiary is the skilled investor.";

- to state the subitem "d" of Item 43 in the following edition:

"e) except for trust management which beneficiary is the skilled investor - to acquire at the expense of the securities issued (emitted) by the organization which is in process of liquidation, bankruptcy and other processes of special administration according to regulations of the legislation of the Kyrgyz Republic in the sphere of bankruptcy (insolvency) being in trust management of managing company of money;".

4. Bring in the Order of the Government of the Kyrgyz Republic "About approval of the Regulations on procedure for state registration of share issue, conditions of public offer of shares, the prospectus and results of share issue" of May 31, 2011 No. 265 the following changes:

in Regulations on the procedure for state registration of share issue, conditions of public offer of shares, the prospectus and results of share issue approved by the above-named Resolution:

- state Item 11 in the following edition:

"11. For state registration of conditions of public offer and the prospectus the following documents are submitted to authorized state body on regulation of the security market:

- the statement in form according to appendix 2 to this Provision;

- conditions of public offer of securities (in case of issue of securities) the legislations on the security market meeting the requirements;

- the prospectus meeting the requirements of the legislation on the security market;

- the copy of the document confirming registration of the issuer as the legal entity (if the issuer did not submit these documents earlier);

- the copy of the charter of the legal entity, including changes and amendments to the charter (if the issuer did not submit this document earlier);

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