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The document ceased to be valid since  December 20, 2015 according to the stataty 22 Constitutional Laws of the Republic of Kazakhstan of December 7, 2015 No. 438-V ZRK

LAW OF THE REPUBLIC OF KAZAKHSTAN

of June 5, 2006 No. 145-III ZRK

About regional financial center of the city of Almaty

(as amended on 27-04-2015)

This Law establishes the legal basis determining particular legal regime of functioning of regional financial center of the city of Almaty.

Article 1. Regional financial center of the city of Almaty and its status

The regional financial center of the city of Almaty (further - financial center) represents the particular legal regime regulating relations of members of financial center and interested persons, aimed at the development of the financial market of the Republic of Kazakhstan.

State registration of members of financial center is understood as the procedure of check of compliance of constituent and other documents to the legislation of the Republic of Kazakhstan, issue of the certificate of state registration with assignment of business and identification number and transfer of data in the National register of business and identification numbers.

Article 2. Legislation of the Republic of Kazakhstan on financial center

1. The legislation of the Republic of Kazakhstan on financial center is based on the Constitution of the Republic of Kazakhstan, consists of this Law and other regulatory legal acts of the Republic of Kazakhstan.

2. If the international treaty ratified by the Republic of Kazakhstan establishes other rules, than those which contain in this Law then are applied rules of the international treaty.

Article 3. Purposes of creation and principles of functioning of financial center

The purposes of creation of financial center are market development of securities, ensuring its integration with the international markets of the capital, investment attraction in economy of the Republic of Kazakhstan through the security market and ensuring access of foreign issuers on special trading floor of financial center.

The financial center functions on the following principles:

1) equality of all participants;

2) capital movement according to the foreign exchange legislation of the Republic of Kazakhstan.

Article 4. Authorized body on regulation of activities of financial center

Authorized body on regulation of activities of financial center is the National Bank of the Republic of Kazakhstan (further - authorized body).

Article 5. Tasks and functions of authorized body

1. The main objectives of authorized body are:

1) implementation of the state powers determined by this Law;

2) further development of financial center;

3) increase in level of investment culture and financial literacy of the population.

2. Functions of authorized body are:

1) state registration (re-registration) of legal entities - members of financial center;

1-1) No. 30-V ZRK is excluded according to the Law of the Republic of Kazakhstan of 05.07.2012

2) the petition for issue of visas to the foreigners and stateless persons arriving to the territory of the Republic of Kazakhstan for implementation of activities in the financial center, according to the procedure, established by the legislation of the Republic of Kazakhstan;

3) No. 30-V ZRK is excluded according to the Law of the Republic of Kazakhstan of 05.07.2012

4) explanation to members of financial center of their rights and obligations;

5) No. 269-V ZRK is excluded according to the Law of the Republic of Kazakhstan of 29.12.2014

6) representative office of financial center in state bodies and other organizations;

7) maintaining the state register of members of financial center;

8) accounting of the foreigners and stateless persons performing labor activity in financial center and quarterly provision of information on attraction of foreign labor power in local executive body of the city of Almaty in the form established by the central executive body coordinating realization of state policy in the sphere of employment of the population;

9) it is excluded.

10) development and implementation of actions on development of financial center;

11) assistance to improvement of infrastructure of the security market;

12) other functions provided by this Law, other laws of the Republic of Kazakhstan and acts of the President of the Republic of Kazakhstan.

Article 6. Competence of authorized body

For the purpose of realization of the tasks and functions the authorized body has the following powers:

1) to issue the certificate of state registration (re-registration) of legal participating person of financial center;

2) to approve rules of state registration (re-registration) of legal participating persons of financial center;

3) to establish requirements to issuers whose securities are assumed to inclusion or are included in the list of special trading floor of financial center, and also to such securities;

4) to establish requirements to rating agencies which rating estimates are recognized authorized body and to approve their list;

5) to establish requirements to rating securities valuations and their issuers for the admission on special trading floor of financial center;

6) to establish procedure for cost recovery on financial records audit of issuers of the securities allowed on special trading floor of financial center;

7) to compensate auditing costs of the financial reporting of issuers of the securities allowed on special trading floor of financial center;

8) for the admission of financial instruments on special trading floor of financial center to approve qualification requirements to auditing organizations in coordination with authorized state body on regulation in the field of auditor activities and to control of activities of the auditing and professional organizations;

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