Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

ORDER OF THE MINISTER OF FINANCE OF THE REPUBLIC OF KAZAKHSTAN

of February 23, 2018 No. 279

About approval of Rules of implementation by Fund of the Problem Credits joint-stock company of types of activity, and also requirements to acquired (acquired) by it to assets and the rights to claim

(as amended on 14-09-2021)

According to the subitem 234) Item 16 of the Regulations on the Ministry of Finance of the Republic of Kazakhstan approved by the order of the Government of the Republic of Kazakhstan of April 24, 2008 No. 387 "About some questions of the Ministry of Finance of the Republic of Kazakhstan", PRIKAZYVAYU:

1. Approve:

1) Rules of implementation by Fund of the Problem Credits joint-stock company of types of activity according to appendix 1 to this order;

2) Requirements to acquired (acquired) Fund of the Problem Credits joint-stock company to assets and rights to claim according to appendix 2 to this order.

2. (Temirbekov D. O.) in the procedure established by the legislation to provide to department of the budget crediting, National fund of the Republic of Kazakhstan and interaction concerning the financial sector of the Ministry of Finance of the Republic of Kazakhstan:

1) state registration of this order in the Ministry of Justice of the Republic of Kazakhstan;

2) within ten calendar days from the date of state registration of this order the direction it the copy in paper and electronic type in the Kazakh and Russian languages in the Republican state company on the right of economic maintaining "The republican center of legal information" for inclusion in Reference control bank of regulatory legal acts of the Republic of Kazakhstan;

3) placement of this order on Internet resource of the Ministry of Finance of the Republic of Kazakhstan;

4) within ten working days after state registration of this order in the Ministry of Justice of the Republic of Kazakhstan submission to Department of legal service of the Ministry of Finance of the Republic of Kazakhstan of data on execution of the actions provided by subitems 1), 2) and 3) of this Item.

3. This order becomes effective after ten calendar days from the date of its first official publication and extends to the relations which arose since March 11, 2017.

Minister of Finance of the Republic of Kazakhstan

B. Sultanov

Appendix 1

to the Order of the Minister of Finance of the Republic of Kazakhstan of February 23, 2018 No. 279

Rules of implementation by Fund of the Problem Credits joint-stock company of types of activity

Chapter 1. General provisions

1. These rules of implementation by Fund of the Problem Credits joint-stock company of types of activity (further - Rules) are developed according to the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" (further - the Law) and establish procedure Fund of the Problem Credits joint-stock company (further - Fund) types of activity, stipulated in Item 2 articles 5-1 of the Law.

2. For the purposes of these rules the following basic concepts are used:

1) assets – property, shares and (or) shares in the authorized capital of legal entities, rights to claim on credits/loans, acquired (acquired) by Fund;

2) book value – the cost at which acquired asset, including right to claim (aggregate value of principal debt, the added remuneration, penalty (penalty, penalty fee), award or discount taking into account provisions (reserves) created according to international accounting standards) is considered in balance of the seller;

3) the caused financing – provision by Fund to bank of the second level (further – bank) financial resources in the form of placement of money in bank on the terms of the contract of bank deposit providing compulsory execution by bank of requirements and financing terms;

4) National Bank of the Republic of Kazakhstan – the Central Bank of the Republic of Kazakhstan representing the top (first) level of bank system of the Republic of Kazakhstan;

5) seller – The National Bank of the Republic of Kazakhstan, bank or the legal entity, earlier being bank at which the Fund acquires (acquired) assets;

6) rights to claim – rights to claim on credits/loans, acquired (acquired) at the National Bank of the Republic of Kazakhstan, banks and legal entities which were earlier banks;

7) the agreement – the contract signed between Fund and National Bank of the Republic of Kazakhstan between Fund and bank, and also between the Fund and the legal entity which was earlier bank which subject is acquisition of assets by Fund.

Chapter 2. Acquisition of assets

3. Acquisition of assets by Fund is made, on condition of their compliance to the criteria established by Requirements to acquired (acquired) Fund of the Problem Credits joint-stock company to assets and rights to claim.

4. Acquisition of assets by Fund is performed at the National Bank of the Republic of Kazakhstan, banks and legal entities which are earlier banks.

5. The asset cost, acquired by Fund, is determined by one of the following methods:

1) the subject of estimative activities or the subject of estimative activities using discount, meeting the requirements established by internal documents of Fund;

2) at book value or at book value using discount for the date determined by the agreement according to internal documents of Fund.

The method of cost determination of acquired assets is chosen Fund according to requirements of internal documents of Fund.

6. In case of availability as a part of providing acquired assets of mortgage property in the form of industrial property complexes, the equipment and processing lines, objects of construction in progress, requirements for comprehensive examination of objects of pledge, including actions for inventory count and (or) inspection, and (or) technical audit, and (or) technological examination, except for separate cases according to the decision of the Fund accepted according to requirements of internal documents of Fund are imposed to the subject of estimative activities and to the assessment procedures applied by it.

Financing of expenses on carrying out independent assessment is determined by the agreement between Fund and the seller.

In case of disagreement of the seller, or Fonda with results of the carried-out independent assessment of assets, is allowed involvement of auditing organization for carrying out audit of the procedures applied by the subject of estimative activities and their compliance to standards of assessment. Expenses on involvement of auditing organization are performed at the expense of the party which expressed disagreement with results of the carried-out independent assessment.

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.