RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 31, 2019 No. 261

About approval of Rules of implementation of trust management of the bank shares, the insurance (reinsurance) organization, the managing director of investment portfolio belonging to the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, the bank holding, insurance holding or person having signs of the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, bank holding, insurance holding, and also actions of authorized body for regulation, control and supervision of the financial market and the financial organizations or national managing holding during trust management

According to the Law 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: No. 262-VI

1. Approve enclosed the Rule of implementation of trust management of the bank shares, the insurance (reinsurance) organization, the managing director of investment portfolio belonging to the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, the bank holding, insurance holding or person having signs of the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, bank holding, insurance holding, and also action of authorized body for regulation, control and supervision of the financial market and the financial organizations or national managing holding during trust management.

2. Recognize invalid regulatory legal acts of the Republic of Kazakhstan, and also structural elements of some regulatory legal acts of the Republic of Kazakhstan according to the list according to appendix to this resolution.

3. To provide to development department of the non-bank 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 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 Birtanov E. A.

6. This resolution becomes effective after ten calendar days after day of its first official publication.

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of December 31, 2019 No. 261

The rule of implementation of trust management of the bank shares, the insurance (reinsurance) organization, the managing director of investment portfolio belonging to the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, the bank holding, insurance holding or person having signs of the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, bank holding, insurance holding, and also action of authorized body for regulation, control and supervision of the financial market and the financial organizations or national managing holding during trust management

1. These rules of implementation of trust management of the bank shares, the insurance (reinsurance) organization, the managing director of investment portfolio belonging to the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, the bank holding, insurance holding or person having signs of the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, bank holding, insurance holding, and also actions of authorized body for regulation, control and supervision of the financial market and the financial organizations (further - authorized body) or national managing holding during trust management, (further - Rules) are developed according to the laws of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks), of December 18, 2000 "About insurance activity" (further - the Insurance law), of July 2, 2003 "About the security market" (further - the Law on the security market) also determine procedure of trust management of the bank shares, the insurance (reinsurance) organization, the managing director of investment portfolio belonging to the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, the bank holding, insurance holding or person having signs of the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, bank holding, insurance holding, and also actions of authorized body or national managing holding during trust management.

2. For the purposes of Rules the following concepts are used:

1) the financial organization - the legal entity performing business activity on provision of financial services;

2) shares of the financial organization - the bank shares belonging to the large member of bank, the bank holding or person having signs of the large member of bank or bank holding, the shares of the insurance (reinsurance) organization belonging to the large member of the insurance (reinsurance) organization, the insurance holding or person having signs of the large member of the insurance (reinsurance) organization, insurance holding, the shares of the managing director of investment portfolio belonging to the large participant or person having signs of the large member of the managing director of investment portfolio;

3) the trustee - authorized body or national managing holding.

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