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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of November 11, 2019 No. 178

About approval of Rules of introduction and cancellation by National Bank of the Republic of Kazakhstan of specific mode of regulation, implementation of activities within specific mode of regulation by the payment institutes and (or) other legal entities which are not the financial organizations, selection criteria by National Bank of the Republic of Kazakhstan and Rules of consideration of documents for the conclusion of the agreement on implementation of activities within specific mode of regulation

(as amended of the Resolution of Board of National Bank of the Republic of Kazakhstan of 30.11.2020 No. 139)

According to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan", of July 3, 2019 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning regulation and development of the financial market, microfinancial activities and the taxation" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve Rules of introduction and cancellation by National Bank of the Republic of Kazakhstan of specific mode of regulation, implementation of activities within specific mode of regulation by the payment institutes and (or) other legal entities which are not the financial organizations according to appendix 1 to this resolution.

2. Approve the following selection criteria by National Bank of the Republic of Kazakhstan for participation in specific mode of regulation:

1) the applicant is payment institute - the resident of the Republic of Kazakhstan, and (or) other legal resident person of the Republic of Kazakhstan which is not the financial organization;

2) the founder - physical person or the first head of executive body or governing body of the founder - the legal entity of the applicant has no not removed or unspent conviction and (or) concerning them criminal prosecution for criminal offenses in the sphere of economic activity was not performed;

3) the applicant - payment institute has for date of filing of application for participation within specific mode of regulation, no operating limited corrective actions and sanctions applied by National Bank of the Republic of Kazakhstan;

4) activities (service) of the applicant planned to implementation (provision) within specific mode of regulation correspond to one or several of following conditions:

promotes improvement of competition in the market of payment services;

promotes market development of payment services and corresponds to consumer interests;

promotes increase in geographical availability of payment services;

provides implementation of new technologies and services (business processes) in the market of payment services;

it is directed to cost reduction and it is risk for consumers of payment services and participants of the market;

5) the business plan provided by the applicant for participation in specific mode of regulation answers the purpose of specific mode of regulation.

3. Approve Rules of consideration of documents for the conclusion of the agreement on implementation of activities within specific mode of regulation according to appendix 2 to this resolution.

4. To provide to department of payment systems in the procedure established by the legislation of the Republic of Kazakhstan:

1) together with Legal department state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

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

3) within ten working days after state registration of this resolution submission to Legal department of data on execution of the actions provided by the subitem 2) of this Item and Item 5 of this resolution.

5. To department of external communications - the press service of National Bank to provide within ten calendar days after state registration of this resolution the direction it to the copy on official publication in periodic printing editions.

6. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Birtanov E. A.

7. This resolution is subject to official publication and becomes effective since January 1, 2020.

Chairman of National Bank

E.Dosayev

Appendix 1

to the Resolution of Board of National Bank of the Republic of Kazakhstan of November 11, 2019 No. 178

Rules of introduction and cancellation by National Bank of the Republic of Kazakhstan of specific mode of regulation, implementation of activities within specific mode of regulation by the payment institutes and (or) other legal entities which are not the financial organizations

1. These rules of introduction and cancellation by National Bank of the Republic of Kazakhstan of specific mode of regulation, implementation of activities within specific mode of regulation are developed by the payment institutes and (or) other legal entities which are not the financial organizations (further - Rules) according to the Law of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan" (further - the Law) and determine procedure for introduction and cancellation by National Bank of the Republic of Kazakhstan (further - National Bank) specific mode of regulation, implementation of the activities within specific mode of regulation by the payment institutes and (or) other legal entities which are not the financial organizations connected with payment services (further - participants).

2. The specific mode of regulation is introduced for goal achievement, determined by Item 2 of article 51-4 of the Law.

Chapter 2. Procedure for introduction and cancellation of specific mode of regulation

3. The specific mode of regulation is introduced by board decision of National Bank in which are specified date of its introduction, and also effective period.

Information on introduction of specific mode of regulation or its cancellation is placed on official Internet resource of National Bank.

4. Activities within specific mode of regulation are performed based on the agreement on implementation of activities within specific mode of the regulation (further - the agreement) concluded between National Bank and the participant in standard form according to appendix to Rules.

5. The duration of the agreement is determined by agreement of the parties, but does not exceed term, stipulated in Item 4 articles 51-4 of the Law.

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