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LAW OF THE REPUBLIC OF KAZAKHSTAN

of July 2, 2018 No. 167-VI ZRK

About currency control and currency exchange control

(as amended on 03-07-2019)

This Law governs the public relations connected with implementation of currency transactions, determines the purposes, tasks of currency control and currency exchange control.

Chapter 1. General provisions

Article 1. The basic concepts and terms used in this Law

1. In this Law the following basic concepts are used:

1) exchange point - specially equipped place for implementation of exchange transactions with cash foreign currency created by the authorized organization or authorized bank having the right to implementation of exchange transactions with cash foreign currency in the Republic of Kazakhstan based on the license of National Bank of the Republic of Kazakhstan or authorized body on regulation, control and supervision of the financial market and the financial organizations or the laws of the Republic of Kazakhstan;

2) currency values:

foreign currency;

securities and payment documents which nominal is expressed in foreign currency;

the securities which do not have nominal issued by nonresidents of the Republic of Kazakhstan;

the affined ingot gold;

national currency, securities and payment documents which nominal is expressed in national currency, in cases of making of transactions with them between residents of the Republic of Kazakhstan and nonresidents of the Republic of Kazakhstan and between nonresidents of the Republic of Kazakhstan, and also their export (translation) from the Republic of Kazakhstan or import (transfer) to the Republic of Kazakhstan;

the securities which do not have nominal issued by residents of the Republic of Kazakhstan in cases of making of transactions with them between residents of the Republic of Kazakhstan and nonresidents of the Republic of Kazakhstan and between nonresidents of the Republic of Kazakhstan, and also their export from the Republic of Kazakhstan or import to the Republic of Kazakhstan;

3) currency transactions:

the transactions connected with transition of the property right and other rights to currency values, and also use of currency values as means of payment;

import, transfer and transfer to the Republic of Kazakhstan, and also export, transfer and transfer from the Republic of Kazakhstan of currency values;

transfer of currency values in trust management;

transfer of currency values based on the agreement on rendering broker services;

4) the currency agreement - agreements, constituent documents, including changes and (or) amendments to them, and also other documents, on the basis and (or) in pursuance of which currency transactions are performed;

5) accounting number - the identification number assigned to the currency agreement or the foreign bank account by National Bank of the Republic of Kazakhstan or authorized bank and intended for ensuring accounting and the reporting under currency transactions;

6) import - transfer by the nonresident of the Republic of Kazakhstan to resident of the Republic of Kazakhstan of goods, transfer partially the nonresident of the Republic of Kazakhstan to resident of the Republic of Kazakhstan of exclusive rights on intellectual property items, performance of works, rendering services, cession of property in lease by the nonresident of the Republic of Kazakhstan to resident of the Republic of Kazakhstan;

7) the affined ingot gold - the gold received as a result of refining and made in the form of measuring and standard ingots, relating to investment gold according to the Law of the Republic of Kazakhstan "About precious metals and gemstones";

8) authorized banks - the banks and the organizations performing separate types of banking activities created in the Republic of Kazakhstan (except for authorized organizations), and also the branches of foreign banks performing activities in the Republic of Kazakhstan which perform currency transactions, including according to orders of clients;

9) authorized organizations - the financial organizations of the Republic of Kazakhstan which are not banks, performing activities only through exchange points based on the license of National Bank of the Republic of Kazakhstan for exchange transactions with cash foreign currency;

10) national currency:

the bank notes in the form of banknotes and coins of National Bank of the Republic of Kazakhstan which are in circulation and being legal means of payment in the territory of the Republic of Kazakhstan, and also withdrawn or withdrawn from circulation, but subject to exchange for the bank notes which are in circulation;

money on bank accounts in monetary units of the Republic of Kazakhstan;

11) foreign currency:

the bank notes in the form of banknotes, coins which are in circulation and being legal means of payment in the territory of foreign state (group of the states) and also withdrawn or withdrawn from circulation, but which are subject to exchange for the bank notes which are in circulation;

money on bank accounts in monetary units of foreign states (group of the states) and international cash or units of account;

12) foreign banks - the banks and other financial institutions created according to the legislation of foreign states and performing banking activity outside the Republic of Kazakhstan based on the legislation of the states in which they are registered;

13) export - transfer by the resident of the Republic of Kazakhstan to the nonresident of the Republic of Kazakhstan of goods, transfer partially resident of the Republic of Kazakhstan to the nonresident of the Republic of Kazakhstan of exclusive rights on intellectual property items, performance of works, rendering services, cession of property in lease by the resident of the Republic of Kazakhstan to the nonresident of the Republic of Kazakhstan.

2. For the purposes of classification of currency transactions in this Law the following main terms are used:

1) equity participation:

participation in the authorized capital, property of the legal entity, particular partnership, consortium, including in the form of shares, shares, deposits and (or) voices of participants;

equity participation of the legal entity other, than authorized capital;

2) capital flow transactions - the transactions connected with transition of the property right and other rights to the currency values performed between residents of the Republic of Kazakhstan and nonresidents of the Republic of Kazakhstan, providing:

financial loans;

equity participation;

transactions with securities, shares and derivative financial instruments;

acquisition of property right to the real estate, except for the movable things equated or carried by the laws of the Republic of Kazakhstan to the real estate;

acquisition of rights of completely exclusive rights to intellectual property items; transfer of money and other property to obligation fulfillment of the participant of joint activities, and also to trust management, trust;

transfer of money and financial instruments to the professional participants of the security market performing currency transactions according to orders of clients into accounts for accounting and storage of the money belonging to clients;

voluntary conveyance of money and other currency values;

3) financial loans:

loans, except for the obligations arising in case of advance payment, delay and payment by installments of payment of export or import;

the money transferred in ensuring obligation fulfillment of the debtor;

financing under concession of monetary claim of suppliers and receivers (sellers and buyers) of goods (works, services);

financing by the third parties of purchase of goods (works, services) and other transactions, and also execution by the third parties of obligations of the debtor to the creditor from which the obligation of person results, for whom the obligation, on refund and other property to the person which provided such financing and (or) performed such execution is fulfilled;

financial leasing, real estate lease with the subsequent redemption, except for leases of the movable things equated or carried by the laws of the Republic of Kazakhstan to the real estate;

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