THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND DEVELOPMENT OF THE FINANCIAL MARKET

of March 30, 2020 No. 43

About approval of Rules of issue of consent of authorized body on regulation, control and supervision of the financial market and the financial organizations on appointment (election) of the leading employee of the insurance (reinsurance) organization, branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan, insurance holding, insurance broker, branch of the insurance nonresident broker of the Republic of Kazakhstan and "Fund of Guaranteeing Insurance Payments" joint-stock company, including criteria of lack of faultless goodwill, the documents necessary for receipt of consent

According to the laws of the Republic of Kazakhstan "About insurance activity", "About Fund of guaranteeing insurance payments", "About state regulation, control and supervision of the financial market and the financial organizations", "About the state services" Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Approve the enclosed Rules of issue of consent of authorized body on regulation, control and supervision of the financial market and the financial organizations on appointment (election) of the leading employee of the insurance (reinsurance) organization, branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan, insurance holding, insurance broker, branch of the insurance nonresident broker of the Republic of Kazakhstan and "Fund of Guaranteeing Insurance Payments" joint-stock company, including the criteria of lack of faultless goodwill, documents necessary for receipt of consent.

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 department of the insurance market and actuarial calculations 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 the Agency of the Republic of Kazakhstan on regulation and development of the financial market 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 management of the international relations and external communications 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 supervising vice-chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market.

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

Approved by the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of March 30, 2020 No. 43

Rules of issue of consent of authorized body on regulation, control and supervision of the financial market and the financial organizations on appointment (election) of the leading employee of the insurance (reinsurance) organization, branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan, insurance holding, insurance broker, branch of the insurance nonresident broker of the Republic of Kazakhstan and "Fund of Guaranteeing Insurance Payments" joint-stock company, including the criteria of lack of faultless goodwill, documents necessary for receipt of consent

Chapter 1. General provisions

1. These rules of issue of consent of authorized body on regulation, control and supervision of the financial market and the financial organizations on appointment (election) of the leading employee of the insurance (reinsurance) organization, branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan, insurance holding, insurance broker, branch of the insurance nonresident broker of the Republic of Kazakhstan and "Fund of Guaranteeing Insurance Payments" joint-stock company, including criteria of lack of faultless goodwill, the documents necessary for receipt of consent (further – Rules), are developed according to Articles 66 and 73 of the Administrative procedural Procedure Code of the Republic of Kazakhstan, article 34 of the Law of the Republic of Kazakhstan "About insurance activity" (further - the Law on insurance activity), the subitem 8) Item 1 of Article 4, article 4-1 of the Law of the Republic of Kazakhstan "About Fund of guaranteeing insurance payments" (further - the Law on Fonda of guaranteeing), the laws of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations" (further – the Law on state regulation), "About the state services" (further - the Law on the state services).

Rules determine procedure for issue of consent of authorized body by regulation, control and supervision of the financial market and the financial organizations (further – authorized body, the service provider) on appointment (election) of the leading employee of the insurance (reinsurance) organization, branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan, insurance holding, insurance broker, branch of the insurance nonresident broker of the Republic of Kazakhstan and "Fund of Guaranteeing Insurance Payments" joint-stock company, including the criteria of lack of faultless goodwill, documents necessary for receipt of consent.

Information on the made changes and (or) additions in Rules is placed on official Internet resource of authorized body and goes to the operator of information and communication infrastructure of "the electronic government".

2. The concepts used in Rules are applied in the values specified in the Law on insurance activity, the Law of the Republic of Kazakhstan "About the electronic document and the digital signature", the Law on Fonda of guaranteeing, the Law on state regulation.

In Rules the following determinations are used:

1) responsible division – the division of authorized body responsible for rendering the state service;

2) the candidate – the physical person having intention to hold leading employee position of the insurance (reinsurance) organization, branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan, insurance broker, branch of the insurance nonresident broker of the Republic of Kazakhstan, "Fund of Guaranteeing Insurance Payments" joint-stock company or the person elected to position of the head or member of governing body, who is the independent director;

3) consent – the consent of authorized body to appointment (election) of the leading employee of the insurance (reinsurance) organization, branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan, insurance holding, insurance broker, branch of the insurance nonresident broker of the Republic of Kazakhstan and "Fund of Guaranteeing Insurance Payments" joint-stock company;

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