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The document ceased to be valid since  April 28, 2020 according to Item 2 of 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. 31

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

of December 25, 2006 No. 295

About approval of Rules of issue of permission to voluntary reorganization of bank (bank holding) or refusal in issue of permission, issue of permission to voluntary liquidation of banks, and also return of deposits of physical persons, their transfer to other bank

(as amended on 28-10-2016)

For the purpose of enhancement of the regulatory legal acts regulating activities of banks of the second level, Board of the Agency of the Republic of Kazakhstan for regulation and supervision of the financial market and the financial organizations (further - the Agency) DECIDES:

1. Approve the enclosed Rules of issue of permission to voluntary reorganization of bank (bank holding) or refusal in issue of permission, issue of permission to voluntary liquidation of banks, and also return of deposits of physical persons, their transfer to other bank.

2. This resolution becomes effective after fourteen days from the date of its state registration in the Ministry of Justice of the Republic of Kazakhstan.

3. To department of supervision of banks (Rayeva R. E.):

1) together with Legal department (Baysynov M. B.) to take measures to state registration in the Ministry of Justice of the Republic of Kazakhstan of this resolution;

2) in ten-day time from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan of this resolution to bring it to the attention of the interested divisions of the Agency, Consolidation of legal entities "The association of financiers of Kazakhstan".

4. To department of the international relations and public relations of the Agency (Pernebayev T. Sh.) provide the publication of this resolution in mass media of the Republic of Kazakhstan.

5. To impose control of execution of this resolution on the vice-chairman of the Agency Bakhmutova E. L.

Chairman

A. Dunayev

Approved by the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of December 25, 2006 No. 295

Rules of issue of permission to voluntary reorganization of bank (bank holding) or refusal in issue of permission, issue of permission to voluntary liquidation of banks, and also return of deposits of physical persons, their transfer to other bank

These rules of issue of permission to voluntary reorganization of bank (bank holding) or refusal in issue of permission, issue of permission to voluntary liquidation of banks, and also return of deposits of physical persons, their transfer to other bank, (further - Rules) are developed according to the laws of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law) and of July 4, 2003 "About state regulation, control and supervision of the financial market and the financial organizations" and determine approval procedure on voluntary reorganization of bank (bank holding) or refusal in issue of permission, issue of permission to voluntary liquidation of banks, and also return of deposits of physical persons, their transfer to other bank.

Chapter 1. General provisions

1. The petition on receipt of permission to the carrying out voluntary reorganization of bank (bank holding) provided in National Bank of the Republic of Kazakhstan (further - authorized body), is considered within two months from the date of its acceptance.

By results of consideration of the petition the authorized body, issues permission or refuses issue of permission to voluntary reorganization of bank (bank holding) or liquidation of bank.

1-1. The petition for giving permission to voluntary liquidation of bank is provided in authorized body after implementation of return of deposits of physical persons by their direct payment or their transfer to other bank, being the participant of system of obligatory guaranteeing deposits.

2. By provision of the documents which are not conforming to requirements of the legislation of the Republic of Kazakhstan, documents return to the applicant. By repeated provision of documents calculation of term of their consideration begins anew.

3. Features of reorganization and liquidation of interstate banks are determined by international treaties (agreements) on creation of data of banks and their constituent documents.

4. The authorized body keeps the register of the issued permissions to voluntary reorganization of banks (bank holdings) in form according to appendix 1 to Rules and the register of the issued permissions to voluntary liquidation of banks in form according to appendix 2 to Rules.

Chapter 2. Approval procedure on voluntary reorganization of bank (bank holding) or refusal in issue of the specified permission

5. The bank (bank holding) represents to authorized body the petition for giving permission to its voluntary reorganization (merge, accession, separation, allocation, transformation) in the form established by appendix 3 to Rules, with application of documents, specified in Item 3 of article 60 of the Law.

The petition with application of documents, specified in Item 3 of article 60 of the Law, is submitted on paper or in electronic form through the web portal of "the electronic government".

5-1. In case of reorganization of bank by transformation to credit partnership after acceptance by general meeting of shareholders of bank of the decision on its reorganization the bank takes measures for return of deposits of physical persons by their direct payment or transfer to other bank, being the participant of system of obligatory guaranteeing deposits, according to the procedure, provided by Chapter 2-1 of Rules, and also on return of deposits of legal entities by their direct payment or transfer to other bank, except for deposits of members of the created credit partnership.

The reorganized bank performs measures for early obligation fulfillment for earlier signed agreements of bank, or termination of these agreements.

After holding the actions specified in parts one and the second this Item, the reorganized bank addresses with the petition to authorized body for issue of permission to its reorganization by transformation to credit partnership with application of documents, the Rules specified in the subitem 2) of Item 8, including concerning deposits of legal entities, and also documents confirming fulfillment of requirements of this Item.

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