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

of June 7, 2023 No. 42

About approval of Rules of implementation of activities of the single accumulation pension fund and (or) the Voluntary accumulation pension funds

1. Approve Rules of implementation of activities of the single accumulation pension fund and (or) the Voluntary accumulation pension funds according to appendix 1 to this resolution.

2. Recognize invalid regulatory legal act of the Republic of Kazakhstan, and also structural elements of some regulatory legal acts of the Republic of Kazakhstan according to the list according to appendix 2 to this resolution.

3. 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.

4. 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.

5. This resolution becomes effective since July 1, 2023 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 June 7, 2023 No. 42

Rules of implementation of activities of the single accumulation pension fund and (or) Voluntary accumulation pension funds

Chapter 1. General provisions

Provisions of Rules do not extend to control of pension assets of the single accumulation pension fund exercised within the trust management agreement signed between National Bank of the Republic of Kazakhstan and the single accumulation pension fund.

2. In Rules the following concepts are used:

1) the quotation - the price proposals of counterpartners in financial instruments received by means of mail, electronic or fax connection;

2) the counterpartner - the legal entity having rights to conclude bargains with financial instruments according to the legislation of the Republic of Kazakhstan or foreign state;

3) "net" pension assets - pension assets of the single accumulation pension fund or Voluntary accumulation pension fund less the obligations relating to pension assets (obligations on retirement benefits, the translations and similar obligations);

4) authorized body - authorized body on regulation, control and supervision of the financial market and the financial organizations;

5) international financial institution - the organization having the international status, created and which is acting on the basis of the international treaty (agreement) or the charter.

3. For the purposes of Rules in addition to rating estimates of the Standard & Poor agency "s (Standard and Purs) authorized body on regulation, control and supervision of the financial market and the financial organizations (further - authorized body) are also recognized rating estimates of the Moody agencies" s Investors Service and Fitch (Mudis Investors Service and Features) (further - other rating agencies) established by the resolution of Board of National Bank of the Republic of Kazakhstan of December 24, 2012 No. 385 "About establishment of the minimum rating for legal entities and the countries which need of availability is required according to the legislation of the Republic of Kazakhstan regulating activities of the financial organizations, branches of nonresident banks of the Republic of Kazakhstan, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan, the list of rating agencies assigning this score" (it is registered in the Register of state registration of regulatory legal acts at No. 8318).

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