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

of September 21, 2020 No. 88

About approval of Rules of issue of permission to opening of branch of the insurance nonresident broker of the Republic of Kazakhstan and Rules of implementation of activities of branch of the insurance nonresident broker of the Republic of Kazakhstan

According to the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity" Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Approve:

1) Rules of issue of permission to opening of branch of the insurance nonresident broker of the Republic of Kazakhstan according to appendix 1 to this resolution;

2) Rules of implementation of activities of branch of the insurance nonresident broker of the Republic of Kazakhstan according to appendix 2 to this resolution.

2. 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 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 action provided by the subitem 2) of this Item.

3. 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.

4. This resolution becomes effective since December 16, 2020 and is subject to official publication.

Appendix 1

to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of September 21, 2020 No. 88

Rules of issue of permission to opening of branch of the insurance nonresident broker of the Republic of Kazakhstan

Chapter 1. General provisions

1. These rules of issue of permission to opening of branch of the insurance nonresident broker of the Republic of Kazakhstan (further - Rules) are developed according to the laws of the Republic of Kazakhstan of December 18, 2000 "About insurance activity" (further - the Law), of July 4, 2003 "About state regulation, control and supervision of the financial market and the financial organizations" and determine procedure for issue by authorized body by regulation, control and supervision of the financial market and the financial organizations (further - authorized body) permissions to opening of branch of the insurance nonresident broker of the Republic of Kazakhstan (further - permission).

Chapter 2. Approval procedure on opening of branch of the insurance nonresident broker of the Republic of Kazakhstan

2. For receipt of permission to opening of branch of the insurance nonresident broker of the Republic of Kazakhstan the insurance nonresident broker of the Republic of Kazakhstan submits in authorized body the application for issue of permission to opening of branch of the insurance nonresident broker of the Republic of Kazakhstan (further - the statement) in form according to appendix 1 to Rules with appendix of the following documents:

1) the decision of the insurance nonresident broker of the Republic of Kazakhstan on opening of branch in the territory of the Republic of Kazakhstan;

2) project of regulations on branch of the insurance nonresident broker of the Republic of Kazakhstan;

3) copies of the constituent documents of the insurance nonresident broker of the Republic of Kazakhstan (which are notarially certified in case of non-presentation of originals for reconciliation);

4) the information about the insurance nonresident broker of the Republic of Kazakhstan in form according to appendix 2 to Rules with appendix of the financial reporting for the last 2 (two) complete financial years (including consolidated in the presence) certified by auditing organization;

5) organizational structure of branch of the insurance nonresident broker of the Republic of Kazakhstan and information about affiliates of the insurance nonresident broker of the Republic of Kazakhstan;

6) documents of persons offered to positions of leading employees of branch of the insurance nonresident broker of the Republic of Kazakhstan;

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