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LAW OF THE REPUBLIC OF KAZAKHSTAN

of January 14, 2013 No. 67-V ZRK

About the State educational accumulative system

(The last edition from 02-07-2018)

This Law governs the public relations in the field of functioning of the State educational accumulative system, and also condition, form and content of its state stimulation.

Chapter 1. General provisions

Article 1. The basic concepts used in this Law

In this Law the following basic concepts are used:

1) educational accumulation deposit - the money on the account of the investor in participating bank including fees of the investor or vnositel, the capitalized remunerations of participating bank and award of the state;

2) award of the state on educational accumulation deposit (further - award of the state) - money, annually at the scheduled time paid for the account of budget funds on actually cumulative remaining balance of educational accumulation deposit;

3) the agreement on educational accumulation deposit (further - the agreement of contribution) - the bank deposit agreement on accumulating of means for payment of educational services signed by the investor with participating bank;

4) the unified register of agreements on educational accumulation deposit - single base of registration of agreements of contribution under which the operator charges award of the state;

5) educational services - organization activity of education on provision to the student of the services directed to realization of educational needs of the personality and development of education programs;

6) authorized body in the field of education - the central executive body of the Republic of Kazakhstan performing management and cross-industry coordination in the field of education;

7) the organization of education - the legal entity created and acting in the territory of the Republic of Kazakhstan, realizing programs of technical and professional, postsecondary, higher and postgraduate (magistracy) education;

8) vnositel - the resident or the nonresident of the Republic of Kazakhstan performing fee on educational accumulation deposit for benefit of the investor;

9) the creditor - the bank of the second level of the Republic of Kazakhstan having the license for carrying out banking loan activities and which signed the agreement on provision of educational secured loans of the organization authorized by the state;

10) credit line - provision to the borrower of legally drawn up obligation of the creditor to issue it during the educational credit of time defined by the agreement money within the approved limit;

11) the borrower - the investor who signed the agreement of the educational credit for the amount lacking for payment of educational services with the creditor;

12) participating bank - the bank of the second level of the Republic of Kazakhstan which is meeting the Law established to the presents the requirements and signed the agreement on cooperation in the field of the State educational accumulative system with the operator in the field of the State educational accumulative system;

13) the State educational accumulative system - the system of money savings for payment of educational services regulated by the legislation of the Republic of Kazakhstan and based on attraction of deposits of the population by participating banks and charge on them of remunerations and awards of the state;

14) the operator in the field of the State educational accumulative system (further - the operator) - the organization determined by the decision of the Government of the Republic of Kazakhstan, performing coordination of activities of participants of the State educational accumulative system and providing its functioning in limits, stipulated by the legislation the Republic of Kazakhstan;

15) the agreement on cooperation in the field of the State educational accumulative system (further - the agreement on cooperation) - the agreement between the operator and participating bank or the operator and the organization of education establishing conditions and procedure for their interaction within realization of the State educational accumulative system;

16) the investor - the citizen of the Republic of Kazakhstan who is contribution agreement party.

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