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

of February 5, 2021 No. 7

About modification and amendments in some regulatory legal acts of the Republic of Kazakhstan concerning rendering the state services in the field of state regulation, control and supervision of the financial market and the financial organizations

For the purpose of enhancement of regulatory legal acts of the Republic of Kazakhstan Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Approve the List of regulatory legal acts of the Republic of Kazakhstan concerning rendering the state services in the field of state regulation, control and supervision of the financial market and the financial organizations to which changes and additions, according to appendix to this resolution are made.

2. 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 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 after twenty one calendar days after day of its first official publication.

Appendix

to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of February 5, 2021 No. 7

The list of regulatory legal acts of the Republic of Kazakhstan concerning rendering the state services in the field of state regulation, control and supervision of the financial market and the financial organizations to which changes and additions are made

1. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of August 27, 2018 No. 191 "About approval of the minimum obligatory training program of actuaries, the list and requirements to international associations of actuaries, Requirements to content and procedure for provision of the obligatory actuarial conclusion, Requirements to confirmation of qualification of the actuary, Rules and terms of involvement of the independent actuary for check of activities of the actuary who is on the staff of the insurance (reinsurance) organization, the direction the independent actuary of results of check of reliability of the calculations which are carried out by the actuary who is on the staff of the insurance (reinsurance) organization, Rules of licensing for the right of implementation of actuarial activities in the insurance market Rules of conducting testing" (it is registered in the Register of state registration of regulatory legal acts at No. 17618, it is published on November 7, 2018 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan) the following

changes and amendments:

The minimum obligatory training program of actuaries approved by the specified resolution:

add with Item 2 following of content:

"2. The provisions of this Minimum obligatory training program of actuaries applied in relation to insurance companies extend to the branches of the insurance nonresident organizations of the Republic of Kazakhstan opened in the territory of the Republic of Kazakhstan taking into account the features provided by the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity".";

in the Requirements to content and procedure for provision of the obligatory actuarial conclusion approved by the specified resolution:

state Item 3 in the following edition:

"3. The reporting of the insurance (reinsurance) organization received according to item 4 of article 19 of the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity" (further - the Law), and the materials necessary for calculation of insurance reserves or used by the licensed actuary when calculating insurance reserves is attached to the actuarial conclusion.";

add with Item 6 of the following content:

"6. The provisions of these Requirements applied in relation to the insurance (reinsurance) organizations extend to the branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan opened in the territory of the Republic of Kazakhstan taking into account the features provided by the Law.";

in Rules and terms of involvement of the independent actuary for check of activities of the actuary who is on the staff of the insurance (reinsurance) organization, the direction the independent actuary of the results of check of reliability of the calculations which are carried out by the actuary who is on the staff of the insurance (reinsurance) organization, approved by the specified resolution:

state Item 1 in the following edition:

"1. These rules and terms of involvement of the independent actuary (further - Rules) are developed for check of activities of the actuary who is on the staff of the insurance (reinsurance) organization, the direction the independent actuary of results of check of reliability of the calculations which are carried out by the actuary who is on the staff of the insurance (reinsurance) organization according to the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity" (further - the Law) and establish procedure and terms of involvement of the independent actuary for check of activities of the actuary having the license for the right of implementation of actuarial activities in the insurance market granted by authorized body on regulation, control and supervision of the financial market and the financial organizations which is on the staff of the insurance (reinsurance) organization, branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan (further - the regular actuary), the directions the independent actuary of results of check of reliability of the calculations which are carried out by the regular actuary.";

state Item 7 in the following edition:

"7. Initiative inspection of activities of the regular actuary is carried out at the initiative of general meeting of shareholders, the board of directors and (or) board of the insurance (reinsurance) organization, authorized body of branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan, taking into account specific objectives, terms and amounts of check provided by the contract for conducting check signed between the insurance (reinsurance) organization, branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan and the independent actuary.".

2. Bring in 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. 40 "About approval of Rules of issue, suspension and deprivation of licenses for implementation of types of professional activity in the security market" (it is registered in the Register of state registration of regulatory legal acts at No. 20226, it is published on April 6, 2020 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan) the following changes and amendments:

in Rules of issue, suspension and deprivation of licenses for implementation of the types of professional activity in the security market approved by the specified resolution:

add with Item 3-1 of the following content:

"3-1. The documents of the applicant provided in foreign language are translated into the Kazakh and (or) Russian languages and are provided in authorized body notarially attested according to article 80 of the Law of the Republic of Kazakhstan of July 14, 1997 "About notariate".";

state item 4 in the following edition:

"4. The applicant provides in authorized body the statement for licensing (further - the statement) in form according to appendices 1, 2 to Rules in electronic form through the web portal of "the electronic government" www.egov.kz (further - the portal).

The list of the documents necessary for rendering the state service, the bases for refusal in rendering the state service, the main requirements to rendering to the state service "Licensing for Implementation of Activities in the Security Market" (further - the state service) including characteristics of process, form, content and result of rendering, and also other data taking into account features of provision of the state service and the term of rendering the state service are provided in the standard of the state service "Licensing for Implementation of Activities in the Security Market" (further - the standard), according to appendix 3 to Rules.

In case of the direction of the statement through the portal in "personal account" of the applicant the status about acceptance of request for rendering the state service with indication of date and time of receipt of result is automatically displayed.";

state Item 6 in the following edition:

"6. The authorized body grants the license in form according to appendix 4 to Rules and records the licenses granted by it.

The authorized body issues to bank, branch of nonresident bank of the Republic of Kazakhstan the license for carrying out the banking and other activities provided by the bank law of the Republic of Kazakhstan and implementation of activities in the security market in form according to appendix 9 to Rules.

The authorized body issues to Islamic bank, branch of Islamic nonresident bank of the Republic of Kazakhstan the license for carrying out the banking and other activities performed by Islamic banks and implementation of activities in the security market in form according to appendix 10 to Rules.";

state Item 16 in the following edition:

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