RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of March 27, 2018 No. 61

About approval of Rules of activities of the affiliated organization acquiring doubtful and bad assets of parent bank, requirements to the acquired (acquired) it doubtful and bad assets

According to the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of activities of the affiliated organization acquiring doubtful and bad assets of parent bank, the requirement to the acquired (acquired) it doubtful and bad assets.

2. Recognize invalid:

1) the resolution of Board of National Bank of the Republic of Kazakhstan of April 23, 2014 No. 71 "About approval of Rules of activities of the affiliated organization acquiring doubtful and bad assets of parent bank" (it is registered in the Register of state registration of regulatory legal acts at No. 9486, it is published on June 16, 2014 in information system of law of Ad_let);

2) Item 8 of the List of regulatory legal acts of the Republic of Kazakhstan concerning regulation, control and supervision of the financial market and the financial organizations to which changes and additions are made the Board of National Bank of the Republic of Kazakhstan approved by the resolution of May 27, 2015 No. 93 "About modification and amendments in some regulatory legal acts of the Republic of Kazakhstan concerning regulation, control and supervision of the financial market and the financial organizations" (it is registered in the Register of state registration of regulatory legal acts at No. 11670, it is published on July 30, 2015 in information system of law of Ad_let).

3. To department of methodology of the financial market (Abdrakhmanov N. A.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

1) together with Legal department (Sarsenov N. V.) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) within ten calendar days from the date of state registration of this resolution 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 official publication and inclusion in Reference control bank of regulatory legal acts of the Republic of Kazakhstan;

3) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication;

4) within ten working days after state registration of this resolution submission to Legal department of data on execution of the actions provided by subitems 2), 3) of this Item and item 4 of this resolution.

4. To management on consumer protection of financial services and external communications (Terentyev A. L.) provide within ten calendar days after state registration of this resolution the direction it to the copy on official publication in periodic printing editions.

5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Smolyakov O. A.

6. This resolution becomes effective after ten calendar days after day of its first official publication.

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of March 27, 2018 No. 61

Rules of activities of the affiliated organization acquiring doubtful and bad assets of parent bank, the requirement to the acquired (acquired) it doubtful and bad assets

1. These rules of activities of the affiliated organization acquiring doubtful and bad assets of parent bank, the requirement to the acquired (acquired) it doubtful and bad assets (further - Rules) are developed according to the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks) and establish procedure for activities of the affiliated organization acquiring doubtful and bad assets of parent bank (further - the affiliated organization), the term during which the affiliated organization manages the acquired doubtful and bad assets, requirements to the acquired (acquired) it doubtful and bad assets.

2. For the purposes of Rules are understood as doubtful and bad assets:

1) requirements to all physical persons and legal entities, including banks, and also contingent obligations, the size of provisions (reserves) on which is created at the level of 5 (five) and more percent from the amount of outstanding overdue debt;

2) property, including the real estate and (or) the property right to objects of construction in progress which carried over parent bank as a result of the address of collection on pledged property on the acquired doubtful and hopeless the rights to claim;

3) the property accepted by parent bank as compensation on doubtful and hopeless rights to claim within the rehabilitation procedure or insolvency proceeding which are carried out concerning the debtor.

3. The affiliated organization, in addition to the types of activity specified in subitems 1), 2), 3) and 4) of item 4 of article 11-2 of the Law on banks performs the following types of activity for the purpose of improvement of quality of doubtful and bad assets:

1) acquisition of personal and real estate and (or) the property right to the objects of construction in progress which carried over parent bank as compensation on doubtful and hopeless rights to claim;

2) leasing, transfer to financial leasing, trust management or use of other form of paid temporary use of own property, and also:

the property which carried over as a result of the address of claim to property, acting as pledge or other providing;

the property received in the form of compensation on the doubtful and hopeless the rights to claim acquired at parent bank and (or) as a result of implementation of actions for improvement of quality of doubtful and bad assets;

the property specified in the subitem 2) of item 4 of article 11-2 of the Law on banks and the subitem 1) of this Item;

property, newly created and accepted in its property within improvement of quality of doubtful and bad assets;

3) creation, including share acquisition (share in the authorized capital), legal entities according to the procedure, established by the civil legislation of the Republic of Kazakhstan, and also realization and management of such shares and (or) shares in the authorized capital of legal entities;

4) realization of own property the, and also the property acquired or received as a result of implementation of the actions plan on improvement of the quality of doubtful and bad assets (further - the Actions plan) provided by the subitem 3) of Item 5 of article 11-2 of the Law on banks;

5) issue of loan by the civil legislation of the Republic of Kazakhstan within implementation of actions, specified in the Actions plan;

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