ORDER OF THE MINISTER OF FINANCE OF THE REPUBLIC OF KAZAKHSTAN

of May 30, 2025 No. 271

About approval of Rules of issue of securities for the address in the domestic market by local executive body of area, city of republican value, the capital

According to Item 5 of Article 140 of the Budget code of the Republic of Kazakhstan and with Item 1 of article 7 of the Law of the Republic of Kazakhstan "About the security market", PRIKAZYVAYU:

1. Approve the enclosed Rules of issue of securities for the address in the domestic market by local executive body of area, city of republican value, the capital.

2. Recognize invalid:

1) the order of the Deputy prime minister - the Minister of Finance of the Republic of Kazakhstan of June 30, 2023 No. 723 "About approval of Rules of issue of securities for the address in the domestic market by local executive body of area, city of republican value, the capital" (it is registered in the Register of state registration of regulatory legal acts for No. 32954);

2) the order of the Minister of Finance of the Republic of Kazakhstan of May 13, 2024 No. 287 "About introduction of amendments to the order of the Deputy prime minister - the Minister of Finance of the Republic of Kazakhstan of June 30, 2023 No. 723 "About approval of Rules of issue of securities for the address in the domestic market by local executive body of area, city of republican value, the capital" (it is registered in the Register of state registration of regulatory legal acts for No. 34364).

3. To provide to department of the state borrowing of the Ministry of Finance of the Republic of Kazakhstan 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 Ministry of Finance of the Republic of Kazakhstan after its official publication;

3) within ten working days after state registration of this order in the Ministry of Justice of the Republic of Kazakhstan submission to Department of legal service of the Ministry of Finance of the Republic of Kazakhstan of data on execution of the actions provided by subitems 1) and 2) of this Item.

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

Approved by the Order of the Minister of Finance of the Republic of Kazakhstan of May 30, 2025 No. 271

Rules of issue of securities for the address in the domestic market by local executive body of area, city of republican value, the capital

Chapter 1. General provisions

1. These rules of issue of securities in the domestic market by local executive body of area, city of republican value, the capital (further - Rules) are developed for the address according to Item 5 of Article 140 of the Budget code of the Republic of Kazakhstan (further - the Budget code) and with Item 1 of article 7 of the Law of the Republic of Kazakhstan "About the security market" (further - the Law) and determine procedure for release, placement, the address, servicing and repayment of government securities of local executive bodies of areas, cities of republican value, the capital in the territory of the Republic of Kazakhstan.

2. In these rules the following concepts are used:

1) the underwriter - the professional participant of the security market having the license for implementation of broker and dealer activities and rendering services to the issuer on release and placement of issued securities;

2) securities - the government issued securities emitted by local executive bodies of area, city of republican value, the capital;

3) the primary dealer - the professional participant of the security market allowed in accordance with the established procedure to participation in placement of securities;

4) the set of rules of depositary - the internal document of depositary based on which the depositary performs servicing and repayment of securities;

5) the central depositary (further - depositary) - the "Central Securities Depository" joint-stock company performing functions of the payment agent in case of placement of securities on payment of the income for securities and in case of their repayment, function on depositary servicing of securities according to the agreement signed with the issuer;

6) the organizer of the biddings - Kazakhstan stock exchange joint-stock company;

7) rules of the organizer of the biddings - the internal document of the organizer of the biddings based on which the organizer of the biddings performs placement of securities;

8) the issuer - local executive body of area, city of republican value, the capital.

At the same time local executive bodies of area are issuers only of the government securities issued by local executive bodies for the address in the domestic market for financing of expenses according to the List of the purposes of borrowings by local executive bodies of areas, cities of republican value, the capital approved by the resolution the Government of the Republic of Kazakhstan of May 28, 2025 No. 385 (further - the List is more whole than borrowings).

Chapter 2. Procedure for release, placement, address, servicing and repayment of securities

Paragraph 1. General terms of release, placement, address, servicing and repayment of securities

3. Securities are issued by the issuer in paperless form. Servicing of securities (charge and payment of remuneration) is performed in national currency.

4. Each release has the international identification number ISIN (International Securities Identification Number) assigned by the central depositary according to the Law.

5. Securities are placed the issuer by holding the auction, additional placement, repeated opening and subscription, statutory rules of the organizer of the biddings.

6. The issuer when implementing issue of securities is allowed to involve the underwriter.

7. Accounting of securities and rights by them is performed by depositary.

8. Conditions, amount and purpose of issue of securities by local executive body of area, city of republican value, the capital are determined according to Item 5 of Article 140 of the Budget code.

At the same time according to Item 3 of Article 140 of the Budget code borrowing by local executive body of area, city of republican value, the capital is limited established by limit of debt of the relevant local executive body and amount of the funds of the local budget allocated for repayment and debt servicing of the relevant local executive body.

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