ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of November 26, 2007 No. 1133

About approval of Rules of receipt of guarantees of funds of guaranteeing obligation fulfillment for cotton receipts

For the purpose of implementation of the Law of the Republic of Kazakhstan of July 21, 2007 "About development of cotton industry" the Government of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of receipt of guarantees of funds of guaranteeing obligation fulfillment for cotton receipts.

2. This resolution becomes effective after ten calendar days after the first official publication.

Approved by the order of the Government of the Republic of Kazakhstan of November 26, 2007 No. 1133

Rules of receipt of guarantees of funds of guaranteeing obligation fulfillment for cotton receipts

1. General provisions

1. These rules of receipt of guarantees of funds of guaranteeing obligation fulfillment for cotton receipts (further - Rules) are developed according to the Law of the Republic of Kazakhstan of July 21, 2007 "About development of cotton industry" and determine procedure for receipt of guarantees of funds of guaranteeing obligation fulfillment for cotton receipts.

2. In these rules the following concepts are used:

the holder of the cotton receipt - the owner of cotton who transferred to the cotton-processing organization cotton raw to storage and (or) primary conversion; cotton-fiber and seeds of cotton - on storage, in making cases on the cotton receipt indossamentaindossat;

amount of the guaranteed cotton - the cotton amount established by fund for each participant which responsibility on return is guaranteed by fund;

the member of fund - the cotton-processing organization having the license for the right of implementation of activities for rendering services in warehouse activities with issue of cotton receipts with which fund it is signed and the agreement of participation is effective;

fund of guaranteeing obligation fulfillment for cotton receipts - the legal entity performing the activities for the purpose of ensuring protection of the rights and legitimate interests of holders of cotton receipts from non-execution of obligations by the cotton-processing organizations for the cotton receipts issued by them (further - fund or funds);

the agreement of participation - the agreement signed between fund and the cotton-processing organization on the basis of which the last participates in system of guaranteeing obligation fulfillment according to cotton receipts.

2. Procedure for receipt of guarantees of fund

3. For receipt of guarantee of fund the holder of the cotton receipt submits in fund the application on receipt of guarantee in any form and attaches to it the following documents:

1) the cotton receipt with undivided mortgage and warehouse certificates;

2) copies of the signed agreements of primary conversion of cotton raw in cotton-fiber and/or the storages of cotton raw corresponding to the standard forms of agreements approved by decisions of the Government of the Republic of Kazakhstan;

3) the cover letter of the participant with the petition for inclusion of this cotton receipt in amount of the guaranteed cotton;

4) legal entities represent copies of the certificate * or certificates of state registration (re-registration) of the legal entity;

note: * the certificate on the state (accounting) registration (re-registration) of the legal entity (branch, representation) issued before enforcement of the Law of the Republic of Kazakhstan of December 24, 2012 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning state registration of legal entities and accounting registration of branches and representations" is valid before the termination of activities of the legal entity;

5) physical persons represent the copy of the identity document of the holder of the cotton receipt, or the copy of the registration certificate of the individual entrepreneur (if the holder of the cotton receipt is individual entrepreneur);

6) the power of attorney on the right of the appeal to fund if not the first head of the holder of the cotton receipt of legal entity or physical person addressed to fund.

4. The fund refuses to the holder of the cotton receipt issue of guarantee if one of below the listed cases takes place:

1) the cotton receipt is issued by the cotton-processing organization, not being the member of fund to which the holder of the cotton receipt addressed;

2) the holder of the cotton receipt did not submit the documents specified in Item 3 of these rules;

3) the cotton receipt does not conform to the requirements established by the legislation imposed to cotton receipts.

5. The refusal of fund in receipt of guarantee is not obstacle for the repeated address of the holder of the cotton receipt for receipt of guarantee after elimination of cases, stipulated in Item 4 these rules.

6. Issue of guarantee of fund is performed within amount of the guaranteed cotton established by fund for the member of fund according to the agreement of participation signed between fund and the member of fund by making of the corresponding text on the cotton receipt with the authorized signature and impress of a seal of fund.

7. The term of issue of guarantees by fund shall not exceed three working days from the moment of receipt of statements from holders of cotton receipts in fund.

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