Document from CIS Legislation database © 2003-2023 SojuzPravoInform LLC

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

of September 12, 2022 No. 61

About approval of Requirements to the affiliated organizations of bank acquiring doubtful and bad assets of parent bank and to the collection agencies acting as service companies to which can be delivered in trust management of the right (requirement) for agreements of bank loan and (or) to agreements on provision of the microcredit

(as amended on 12-12-2022)

Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Approve the enclosed Requirements to the affiliated organizations of bank acquiring doubtful and bad assets of parent bank and to the collection agencies acting as service companies to which can be delivered in trust management of the right (requirement) for agreements of bank loan and (or) to agreements on provision of the microcredit according to appendix to this resolution.

2. To provide to department of methodology and prudential 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 after ten calendar days after day of its first official publication.

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

M. Abylkasymova

Appendix

to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of September 12, 2022 No. 61

Requirements to the affiliated organizations of bank acquiring doubtful and bad assets of parent bank and to the collection agencies acting as service companies to which can be delivered in trust management of the right (requirement) for agreements of bank loan and (or) to agreements on provision of the microcredit

1. These Requirements to the affiliated organizations of bank acquiring doubtful and bad assets of parent bank and to the collection agencies acting as service companies to which can be delivered in trust management of the right (requirement) for agreements of bank loan and (or) to agreements on provision of the microcredit (further – Requirements) are developed according to part four of item 4 of article 36-1 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" (further – the Law on banks) and part four of Item 5 of article 9-1 of the Law of the Republic of Kazakhstan "About microfinancial activities" (further – the Law on microfinancial activities) and determine requirements to the affiliated organizations of bank acquiring doubtful and bad assets of parent bank and to the collection agencies acting as service companies by which are delivered in trust management of the right (requirement) for agreements of bank loan and (or) to agreements on provision of the microcredit.

2. In Requirements the concepts provided by the Law on banks and the Law of the Republic of Kazakhstan "About collection activities" are used (further – the Law on collection activities).

3. For implementation of trust management of the rights (requirements) for agreements of bank loan and (or) to agreements on provision of the microcredit based on the trust management agreement of the rights (requirements) for agreements of bank loan and (or) to agreements on provision of the microcredit (further – the trust management agreement) the affiliated organization of bank which is acquiring doubtful and bad assets of parent bank (further – the affiliated organization), acting as service company by which are delivered in trust management of the right (requirement) for agreements of bank loan and (or) to agreements on provision of the microcredit conforms to the following requirements:

1) the size of equity of the parent organization of the affiliated organization constitutes not lower than 10 000 000 000 (ten billion) tenges;

2) implementation of activities within three years from the moment of issue to bank or bank holding of permission to creation of the affiliated organization by bank;

3) absence for date of inclusion of the affiliated organization in the register of service companies of the unexecuted and (or) operating measures of supervising reaction applied by authorized body on regulation, control and supervision of the financial market and the financial organizations (further – authorized body), and administrative punishments for the administrative offenses provided by part one of article 227 of the Code of the Republic of Kazakhstan about administrative offenses;

4) absence at the first head of the affiliated organization of not removed or unspent conviction.

4. For implementation of trust management of the rights (requirements) for agreements of bank loan and (or) to agreements on provision of the microcredit based on the trust management agreement the collection agency acting as service company to which are delivered in trust management of the right (requirement) for agreements of bank loan and (or) to agreements on provision of the microcredit conforms to the following requirements:

1) the size of the authorized capital of the collection agency constitutes not lower than 300 000 000 (three hundred million) tenges;

2) implementation of activities within three years from the moment of inclusion of the collection agency in the register of the collection agencies;

3) absence for date of inclusion of the collection agency in the register of service companies of the unexecuted and (or) operating limited corrective actions applied by authorized body and administrative punishments for administrative offenses, the stipulated in Article 211-1 Code of the Republic of Kazakhstan about the administrative offenses imposed within the last twelve months before date of inclusion in the register of service companies;

4) absence at the first head of the collection agency of not removed or unspent conviction;

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.