THE ORDER OF THE CHAIRMAN OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON FINANCIAL MONITORING

of September 26, 2022 No. 35

About approval of Rules of submission of information about beneficial owners by clients (their representatives) at the request of the subject of financial monitoring

According to Item 5 of article 5 of the Law of the Republic of Kazakhstan "About counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing", PRIKAZYVAYU:

1. Approve Rules of submission of information about beneficial owners as clients (their representatives) at the request of the subject of financial monitoring, according to appendix to this order.

2. In the procedure established by the legislation to provide to department on work with subjects of financial monitoring of the Agency of the Republic of Kazakhstan on financial monitoring (further – the Agency):

1) state registration of this order in the Ministry of Justice of the Republic of Kazakhstan;

2) placement of this order on Internet resource of the Agency of the Republic of Kazakhstan on financial monitoring.

3. This order becomes effective after ten calendar days after day of its first official publication.

Approved by the Order of the Chairman of the Agency of the Republic of Kazakhstan on financial monitoring of September 26, 2022 No. 35

Rules of submission of information about beneficial owners by clients (their representatives) at the request of the subject of financial monitoring

This Rules of submission of information about beneficial owners by clients (their representatives) at the request of the subject of financial monitoring (further – Rules) it is developed for the purpose of receipt of financial monitoring by subjects, specified in subitems 1), 2), 3), 4), 5), 11) and 12) Item 1 of article 3 of the Law of the Republic of Kazakhstan "About counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing" (further – the Law on POD/FT) the information about beneficial owners of clients.

Chapter 1. Basic concepts

1. The concepts applicable of Rules, are used in value specified in the Law on POD/FT:

1) the beneficial owner – physical person:

which directly or indirectly possesses more than twenty five percent of shares in the authorized capital or placed (less exclusive and redeemed by society) shares of the client – the legal entity or foreign structure without formation of legal entity;

exercising control over the client otherwise;

for the benefit of which the client makes transactions with money and (or) other property;

2) the client – the physical, legal entity or foreign structure without formation of legal entity receiving services of the subject of financial monitoring;

3) authorized body – the state body performing financial monitoring and taking other measures for counteraction of legalization (washing) of income gained in the criminal way, to terrorism financing, financing of distribution of weapons of mass destruction according to the Law on POD/FT;

Chapter 2. Procedure for submission of information about beneficial owners by clients (their representatives) at the request of the subject of financial monitoring

2. Proper check by subjects of financial monitoring of the clients (their representatives) and beneficial owners includes implementation of the measures specified in Item 3 of article 5 of the Law on POD/FT.

3. The subject of financial monitoring has the right to demand from the client (his representative) of submission of the data and documents necessary or the sufficient for identification of the beneficial owner, and also submission of data on the tax residence, kind of activity and activities and source of financing made transactions.

4. The subject of financial monitoring for the purpose of identification of beneficial owners of the client is requested from the client (his representative) of the information about beneficial owners, according to the enclosed Form of information about beneficial owners of the client of the subject of financial monitoring to these rules.

5. Clients (their representatives) shall represent to subjects of financial monitoring the authentic, sufficient and urgent information about beneficial owners necessary for execution of the obligations provided by the Law on POD/FT by them.

6. The information about beneficial owners of the client is subject to storage by subjects of financial monitoring at least five years from the date of the termination of business relations with the client.

7. Subjects of financial monitoring provide in authorized body the information about beneficial owners of clients according to the order of the Chairman of the Agency of the Republic of Kazakhstan on financial monitoring of February 24, 2022 to No. 13 "About approval of Rules of representation by subjects of financial monitoring of data and information on the transactions which are subject to financial monitoring and signs of determination of suspicious transaction" (it is registered in the Register of state registration of regulatory legal acts No. 26924).

Appendix

to Rules of submission of information about beneficial owners by clients (their representatives) at the request of the subject of financial monitoring

Form of information about beneficial owners of the client of the subject of financial monitoring

Date of filling of form _____

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