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 June 12, 2004 No. 153

About approval of Rules on accounting of pension accruals on individual retirement accounts of investors (receivers) in the accumulation pension funds

According to Item 2 of article 49 of the Law of the Republic of Kazakhstan "About provision of pensions in the Republic of Kazakhstan", the subitem 3) article 13 of the Law of the Republic of Kazakhstan "About state regulation and supervision of the financial market and the financial organizations", Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial DECIDES: organizations

1. Approve Rules on accounting of pension accruals on individual retirement accounts of investors (receivers) in the accumulation pension funds (appendix 1 to this resolution).

2. From the date of enforcement of this resolution to recognize invalid the regulatory legal acts specified in appendix 2 to this resolution.

3. To management of consumer protection of financial services (Dzhurunov S. R.):

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 to bring this resolution to the attention of the interested divisions of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations, Consolidation of legal entities "Association of financiers of Kazakhstan" and the accumulation pension funds.

4. (Nesipbayev R. R.) in ten-day time from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan to provide to department on ensuring activities of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations the publication of this resolution in official mass media of the Republic of Kazakhstan and in printing editions of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations.

5. This resolution becomes effective after fourteen days from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan, except for items 4 and 6 Rules on accounting of pension accruals on individual retirement accounts of investors (receivers) in the accumulation pension funds which become effective after three months from the date of state registration of the resolution in the Ministry of Justice of the Republic of Kazakhstan.

6. To impose control of execution of this resolution on the vice-chairman of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations Bakhmutova E. L.

Appendix 1

to 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 June 12, 2004 No. 153

Rules on accounting of pension accruals on individual retirement accounts of investors (receivers) in the accumulation pension funds

These rules on individual retirement accounts of investors (receivers) in the accumulation pension funds determine accounting treatment for pension accruals on individual retirement accounts of investors (receivers) in the accumulation pension funds by accounting of pension accruals.

1. For the purpose of ensuring proper accounting of pension accruals to each investor (receiver) of the accumulation pension fund (further - fund) the individual retirement account is opened.

2. The basis for opening of the individual retirement account are:

1) the pension provision agreement signed between fund and the investor (receiver);

2) the devolution agreement of pension assets of investors (receivers) of compulsorily liquidated accumulation pension fund in other accumulation pension fund.

3. At the same time the fund performs registration of individual retirement accounts of investors (receivers) electronically.

4. The following information shall be stored in the database of the automated information system of fund for each investor (receiver):

1) number of the individual retirement account;

2) surname, name, middle name (in the presence), birth date of the investor (receiver);

3) sex of the investor (receiver);

4) individual identification number;

5) number and date of the conclusion of the pension provision agreement;

6) document number, the investor (receiver), data on the state body proving the identity which issued it date of issue;

7) address, residence of the investor (receiver);

8) the name (surname), name, middle name (in the presence) and other details of the agent specified in the payment order;

9) about the amounts of all revenues to the individual retirement account;

10) type of investment portfolio.

5. Individual retirement accounts are opened for investors (receivers) in day of the conclusion of the pension provision agreement and kept in tenge separately by types of pension contributions (compulsory pension contributions / voluntary pension contributions / voluntary professional pension contributions). By each type of pension contributions the fund opens for the investor (receiver) only one individual retirement account.

6. The structure of the individual retirement account, shall contain the following obligatory data:

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