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

of February 15, 2021 No. 29

About approval of Requirements to managing directors of investment portfolio by which pension assets, and also the list of the financial instruments resolved to acquisition at the expense of these pension assets, both modification and amendments in the Resolution of Board of National Bank of the Republic of Kazakhstan of February 3, 2014 No. 10 "About approval of Rules of implementation of activities for management of investment portfolio" can be delivered in trust management

(as amended on 26-06-2023)

According to subitem 1-3) of article 8 of the Law of the Republic of Kazakhstan of June 21, 2013 "About provision of pensions in the Republic of Kazakhstan", the subitem 8) Item 2 of Article 3, item 4 of article 45 of the Law of the Republic of Kazakhstan of July 2, 2003 "About the security market" Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Ceased to be valid according to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of 26.06.2023 No. 62

2. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of February 3, 2014 No. 10 "About approval of Rules of implementation of activities for management of investment portfolio" (it is registered in the Register of state registration of regulatory legal acts at No. 9248, it is published on April 16, 2014 in information system of law of Ad_let) the following changes and amendments:

in the Rules of implementation of activities for management of investment portfolio approved by the specified resolution:

state preamble in the following edition:

"These rules of implementation of activities for management of investment portfolio (further - Rules) are developed according to the Civil code of the Republic of Kazakhstan (Special part) of July 1, 1999, the laws of the Republic of Kazakhstan of December 18, 2000 "About insurance activity", of July 2, 2003 "About the security market" (further - the Law on the security market), of July 4, 2003 "About state regulation, control and supervision of the financial market and the financial organizations", of July 7, 2004 "About investment and venture funds" (further - the Law on investment funds), of February 20, 2006 "About project financing and securitization" (further - the Law on securitization), of June 21, 2013 "About provision of pensions in the Republic of Kazakhstan" (further - the Law on provision of pensions), establish conditions and procedure of activities for management of investment portfolio in the Republic of Kazakhstan.

Action of Rules extends on:

the organizations performing based on the license of authorized body activities for management of investment portfolio without the right of attraction of voluntary pension contributions;

the organizations performing based on the license of authorized body activities for management of investment portfolio with the right of attraction of voluntary pension contributions when implementing by them of activities for management of the investment portfolio built not due to attraction of voluntary pension contributions;

the insurance companies performing activities in industry "life insurance" and independent asset management, created at the expense of part of the insurance premiums (insurance premiums) got from insurers for the purposes of investment and income (losses) gained from their investment according to the insurance contracts providing condition of participation of the insurer in investments based on the license of authorized body for implementation of activities for management of investment portfolio in the security market (further - insurance companies).

Activities of the managing director of investment portfolio for asset management, created at the expense of part of the insurance premiums (insurance premiums) got from insurers for the purposes of investment, and income (losses) gained from their investment according to the insurance contracts providing condition of participation of the insurer in investments are performed taking into account the features established by regulatory legal act of authorized body according to Item 5 of article 12 of the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity" (further - Rules of participation of the insurer in investments).";

state Item 1 in the following edition:

"1. In Rules the following concepts are used:

1) special finance company - the legal entity created according to the Law on securitization for implementation of transactions of project financing and securitization for benefit of which rights to claim are yielded;

2) the single accumulation pension fund - the legal entity performing activities for attraction of pension contributions and retirement benefits;

3) the investment declaration - the document determining the list of investment objects, the purposes, strategy, conditions and restrictions of investing activities on assets of the client, condition of hedging and asset diversification;

4) investment portfolio - the set of different types of financial instruments or other property which is in property or management of the managing director of investment portfolio;

5) the managing director of investment portfolio - the professional participant of the security market performing on its own behalf in interests and for customer account activities for management of objects of the civil laws;

6) the agreement on management of investment portfolio - the agreement according to which the client gives to the managing director of investment portfolio property to investment management and the managing director of investment portfolio shall exercise control of this property for the benefit of the client;

7) system of accounting of the managing director of investment portfolio - set of the data containing on investment customer accounts of the managing director of investment portfolio which provide identification of the client and his assets, structure of investment portfolio and transactions with the client's assets on certain timepoint;

8) the investment decision - the decision of the managing director of investment portfolio on transactions with the client's assets accepted in process of management of its assets;

9) the client - person using or intended to use services of the managing director of investment portfolio, investment fund, the investment portfolio built at the expense of part of the insurance premiums (insurance premiums) got from insurers for the purposes of investment and income (losses) gained from their investment according to the insurance contracts providing condition of participation of the insurer in investments which assets are in management at the managing director of investment portfolio, and also the single accumulation pension fund concerning pension assets which are in trust management at the managing director of investment portfolio;

10) the client's assets - set of the assets which are in management at the managing director of investment portfolio;

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