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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 13, 2019 No. 234

About approval of Rules of introduction and cancellation of specific mode of regulation, implementation of activities within specific mode of regulation

According to the Law of the Republic of Kazakhstan of July 4, 2003 "About state regulation, control and supervision of the financial market and the financial organizations" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of introduction and cancellation of specific mode of regulation, implementation of activities within specific mode of regulation.

2. Declare invalid the resolution of Board of National Bank of the Republic of Kazakhstan of September 27, 2018 No. 224 "About approval of Rules of introduction and cancellation of specific mode of regulation, implementation of activities within specific mode of regulation" (it is registered in the Register of state registration of regulatory legal acts at No. 17612, it is published on November 7, 2018 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan).

3. To provide to department of methodology and regulation of the financial organizations 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 4 of this resolution.

4. To department of external communications - the press service of National Bank of the Republic of Kazakhstan 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.

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 since January 1, 2020 and is subject to official publication.

Chairman of National Bank

E.Dosayev

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of December 13, 2019 No. 234

Rules of introduction and cancellation of specific mode of regulation, implementation of activities within specific mode of regulation

Chapter 1. General provisions

1. These rules of introduction and cancellation of specific mode of regulation, implementation of activities within specific mode of regulation (further - Rules) are developed according to the Law of the Republic of Kazakhstan of July 4, 2003 "About state regulation, control and supervision of the financial market and the financial organizations" (further - the Law) and establish procedure for introduction and cancellation by authorized body on regulation, control and supervision of the financial market and the financial organizations (further - authorized body) specific mode of regulation, implementation of activities within specific mode of regulation by the financial organizations and (or) other legal entities performing activities in the financial sphere, the activities connected with concentration of financial resources and (or) with payment services (further - participants).

2. The specific mode of regulation is introduced for goal achievement, determined by Item 2 of article 13-3 of the Law.

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

3. The specific mode of regulation is introduced and cancelled by board decision of authorized body.

Introduction of specific mode of regulation concerning the activities connected with payment services is performed by board decision of authorized body in coordination with National Bank of the Republic of Kazakhstan.

Board decision of authorized body about introduction of specific mode of regulation or its cancellation becomes effective from the date of its acceptance.

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

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 authorized body and the participant.

5. The duration of the agreement is determined by agreement of the parties, but does not exceed term, stipulated in Item 4 articles 13-3 of the Law.

6. Special conditions of implementation of activities within specific mode of regulation, types of activity in the financial sphere, the activities connected with concentration of financial resources and (or) with payment services, the duration of the agreement, the number of consumers, amount of obligations, limits of action of regulations of the laws of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" of December 23, 1995 "About mortgage of real estate", of December 18, 2000 "About insurance activity", of July 2, 2003 "About the security market", of July 6, 2004 "About credit bureaus and forming of credit stories in the Republic of Kazakhstan", of November 26, 2012 "About microfinancial activities", of June 21, 2013 "About provision of pensions in the Republic of Kazakhstan", of July 26, 2016 "About payments and payment systems", of July 2, 2018 "About currency control and currency exchange control" and the regulatory legal acts of authorized body adopted according to the specified laws on participants of specific mode of regulation, are determined by authorized body concerning each participant individually.

7. The specific mode of regulation is cancelled:

1) in case of the termination by all participants of implementation of activities within specific mode of regulation;

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