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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 July 16, 2021 No. 84

About approval of Rules of consideration of changes in terms of the contract of bank loan

According to Item 1-2 of article 36 of the Law of the Republic of Kazakhstan "About banks and banking activity in 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 enclosed Rules of consideration of changes in terms of the contract of bank loan.

2. To provide to department of consumer protection of financial services 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 is subject to official publication and becomes effective since October 1, 2021.

The chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market

M. Abylkasymova

Approved by the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of July 16, 2021 No. 84

Rules of consideration of changes in terms of the contract of bank loan

Chapter 1. General provisions

1. These rules of consideration of changes in terms of the contract of bank loan (further – Rules) are developed according to Item 1-2 of article 36 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" (further – the Law on banks), the subitem 4) of Item 1 of article 9 of the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations" and determine procedure for consideration by banks of the second level and the organizations performing separate types of banking activities, statements of borrowers – physical persons about modification of conditions of agreements of bank loan.

In Rules the following concepts and reducings are used:

1) bank – bank of the second level, the organization which is performing separate types of banking activities, having the license for implementation of banking loan activities;

2) debt - amount of debt on bank loan, including the amounts of remaining balance of principal debt, the added, but not paid remuneration, the commissions, penalty (penalties, penalty fee) and other payments provided by the agreement of bank loan signed with the borrower;

3) the borrower - the physical person which signed the agreement of bank loan with bank.

Chapter 2. Procedure for consideration of the application about modification of terms of the contract of bank loan

2. The application for modification of terms of the contract of bank loan is submitted by the borrower to the bank which issued loan (further – the statement) according to Item 1-1 of article 36 of the Law on banks.

3. The statement of the borrower is subject to obligatory acceptance, registration, accounting and consideration by bank.

4. In case of submission by the borrower of incomplete data and documents the bank requests them.

The borrower provides required documents within 5 (five) working days.

Non-presentation of required documents in the specified time is the basis for leaving of the statement of the borrower without consideration about what bank the adequate notice goes.

5. The bank by consideration of question of modification of terms of the contract of bank loan when calculating solvency of the borrower is guided by requirements of the resolution of Board of National Bank of the Republic of Kazakhstan of December 25, 2013 No. 292 "About introduction of restrictions for carrying out separate types of banking and other activities by the financial organizations" (it is registered in the Register of state registration of regulatory legal acts at No. 77379).

6. The bank within 15 (fifteen) calendar days after day of receipt of the statement of the borrower considers the offered changes in terms of the contract of bank loan and in writing or by the method provided by the agreement of bank loan reports the borrower about (about):

1) consent with the offered changes in terms of the contract of bank loan;

2) the offers on change of terms of the contract of bank loan;

3) refusal in change of terms of the contract of bank loan with indication of motivated reasons for the reasons of such refusal.

In case of adoption by bank of the decision on consent with the offered changes in terms of the contract of bank loan, procedure and terms of modification of terms of the contract of bank loan are determined by the internal document of bank, at the same time the term of introduction of such changes, does not exceed 15 (fifteen) calendar days from the date of adoption of such decision by bank.

In case of the direction bank of the offers on change of terms of the contract of bank loan, the term of submission of the answer by the borrower to terms of change of the agreement of bank loan offered by bank is specified in the letter of bank and constitutes at least 15 (fifteen) calendar days from the date of receipt of bank by the borrower of the decision.

 

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