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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 31, 2019 No. 266

About approval of Rules of application of measures of supervising reaction to the legal entities 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 and legal entities whose exclusive activities is collection of banknotes, coins and values

(as amended of the Resolution of Board of National Bank of the Republic of Kazakhstan of 22.02.2021 No. 19)

According to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan", of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan", of July 2, 2018 "About currency control and currency exchange control", 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 the enclosed Rules of application of measures of supervising reaction to the legal entities 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 and legal entities whose exclusive activities is collection of banknotes, coins and values.

2. To provide to department of cash circulation 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 3 of this resolution.

3. 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.

4. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Galiyeva D. T.

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

Chairman of National Bank

E.Dosayev

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of December 31, 2019 No. 266

Rules of application of measures of supervising reaction to the legal entities 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 and legal entities whose exclusive activities is collection of banknotes, coins and values

Chapter 1. General provisions

1. These rules of application of measures of supervising reaction to the legal entities 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 and legal entities whose exclusive activities is collection of banknotes of coins and values (further - Rules) are developed according to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan" (further - the Law on National Bank), of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks and banking activity), of July 2, 2018 "About currency control and currency exchange control" (further - the Law on currency control and currency exchange control) and determine procedure for application by National Bank of the Republic of Kazakhstan (further - National Bank) measures of supervising reaction to legal entities, performing activities only through exchange points based on the license of National Bank for exchange transactions with cash foreign currency, and to legal entities whose exclusive activities is collection of banknotes, coins and values.

2. The measures of supervising reaction determined by subitems 1) and 2) of item 4 of article 45-1 of the Law on banks and banking activity are applied according to Item 4-1 of article 45-1 of the Law on banks and banking activity, the subitem 2) of Item 2 of article 22 of the Law on currency control and currency exchange control.

3. The National Bank applies to persons specified in Item 1 of Rules, the following measures of supervising reaction:

1) referral measures of supervising reaction;

2) measures for improvement of financial condition and (or) risk minimization.

4. In case of determination of feasibility of application of measures of supervising reaction and the choice of measure of supervising reaction factors, stipulated in Item 3 articles 45-1 of the Law on banks and banking activity are considered.

5. The National Bank records the applied measures of supervising reaction and places information on the applied measures of supervising reaction (except referral measures of supervising reaction) on the official Internet resource in the Kazakh and Russian languages.

6. No. 19 is excluded according to the Resolution of Board of National Bank of the Republic of Kazakhstan of 22.02.2021

Chapter 2. Referral measures of supervising reaction

7. The National Bank applies referral measures of supervising reaction to persons specified in Item 1 of Rules, in the cases specified in Item 1 of article 45-2 of the Law on banks and banking activity, the subitem 2) of Item 2 of article 22 of the Law on currency control and currency exchange control.

8. The referral measure of supervising reaction is drawn up by the letter of National Bank and contains the bases of application of this measure and the notification on the revealed shortcomings, risks or violations and (or) recommendations about elimination of the revealed shortcomings, risks or violations, and (or) the warning of possibility of application of other measures of supervising reaction in case of repeated identification by National Bank of shortcomings, risks or violations, and also failure to carry out of referral measures of supervising reaction.

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