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

of September 25, 2023 No. 5

About approval of Rules of maintaining the Register of beneficial owners of legal entities

According to Item 5 of article 6-1 of the Law of the Republic of Kazakhstan "About counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing", I ORDER:

1. Approve the enclosed Rules of maintaining the Register of beneficial owners of legal entities, according to appendix to this order.

2. To provide to department on work with subjects of financial monitoring of the Agency of the Republic of Kazakhstan on financial monitoring in the procedure established by the legislation of the Republic of Kazakhstan:

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 since September 11, 2023.

Approved by the Order of the Chairman of the Agency of the Republic of Kazakhstan on financial monitoring of September 25, 2023 No. 5

Rules of maintaining Register of beneficial owners of legal entities

Chapter 1. General provisions

1. These rules of maintaining the Register of beneficial owners of legal entities (further - Rules) are developed according to article 6-1 of the Law of the Republic of Kazakhstan "About counteraction of legalization (washing) of the income received in the criminal way and to terrorism financing" (further - the Law).

2. In Rules the following basic concepts are used:

1) 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 (further - POD/FT/FROMU) according to the Law;

2) 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;

3) the Register of beneficial owners of legal entities (further - the Register) - the state database intended for accounting and storage of information about beneficial owners of legal entities for the purpose of POD/FT/FROMU;

4) users of the Register - the state bodies of the Republic of Kazakhstan exercising control of observance by subjects of financial monitoring of the legislation of the Republic of Kazakhstan on POD/FT/FROMU within the competence (except for authorized body), special state and law enforcement agencies, and also subjects of financial monitoring which have access to the Register and opportunity to enter information on expected beneficial owners of legal entities of clients and under control subjects in the Register;

5) the registration beneficial owner of the legal entity - the beneficial owner of the legal entity specified by the legal entity in case of state registration in the State database "Legal entities";

6) the expected beneficial owner of the legal entity - the beneficial owner of the legal entity brought by authorized body on analysis results of primary sources about beneficial owners of legal entities and updating of the obtained information from users of the Register.

Chapter 2. Procedure for maintaining Register

3. The register is placed in the closed part of the web portal of authorized body and intended for search, check of reliability of the information about beneficial owners of legal entities provided by the client, and also introduction of amendments by users of the Register, in case of detection of discrepancy of provided information by the legal entity and information specified in the Register.

4. Forming and maintaining the Register is performed by authorized body on the basis:

1) integration with information systems of other state bodies;

2) submissions to authorized body by law enforcement, special state bodies of information on beneficial owners of the legal entities revealed within their activities;

3) the directions authorized body of requests in other state bodies and the organizations;

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