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

of August 21, 2004 No. 259

About establishment of Rules, conditions and techniques of cost determination of assets of investment fund, net assets of investment fund, settlement cost of share of mutual investment fund and price of share repurchase of joint-stock investment fund

(as amended on 11-11-2019)

According to Item 1 of article 38 of the Law of the Republic of Kazakhstan of July 7, 2004 "About investment and venture funds" the Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and financial institutions (further - the Agency) DECIDES:

1. Establish Rules, conditions and technique of cost determination of assets of investment fund, net assets of investment fund, settlement cost of share of mutual investment fund and the price of share repurchase of joint-stock investment fund according to appendix to this resolution.

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

3. To department of strategy and analysis (Edenbayev E. S.):

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, Consolidation of legal entities "Association of financiers of Kazakhstan", Associations of legal entities "Association of Asset managers", managing directors of investment portfolio.

4. To department on ensuring activities of the Agency (Nesipbayev P.P.) take measures to 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

B. Zhamishev

Appendix

to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and financial institutions of August 21, 2004 No. 259

Rules, conditions and technique of cost determination of assets of investment fund, net assets of investment fund, settlement cost of share of mutual investment fund and price of share repurchase of joint-stock investment fund

These rules, conditions and technique of cost determination of assets of investment fund, net assets of investment fund, settlement cost of share of mutual investment fund and the price of share repurchase of joint-stock investment fund (further - Rules) are developed according to the Laws of the Republic of Kazakhstan of July 7, 2004 "About investment and venture funds" and of February 28, 2007 "About financial accounting and the financial reporting" and determine conditions, technique and procedure for cost determination of assets of investment fund, net assets of investment fund, settlement cost of share of mutual investment fund and the price of share repurchase of joint-stock investment fund.

1. General provisions

1. Cost determination of assets and liabilities of investment fund is performed by managing company and custodian separately on each investment fund which functioning they provide.

2. The managing company and custodian of investment fund provide observance of the following conditions:

1) the structure of assets of investment fund is reflected by:

the assets received in payment of securities of investment fund;

the gained income, including receipts in the form of dividends, remunerations on financial instruments, and also the income according to transactions with assets of investment fund;

imputed income, including remuneration on financial instruments, revaluation surplus of assets of investment fund;

2) the expenses refunded for the asset account of investment fund and paid to persons providing functioning of investment fund are subdivided into the expenses refunded for the account:

the assets received in payment of securities of investment fund;

investment revenue.

3. When implementing account transactions of investment fund are specified:

1) currency type;

2) the assets of investment fund issued according to the legislation of the Republic of Kazakhstan or which are in the territory of the Republic of Kazakhstan, and the assets of investment fund issued according to the legislation of others, in addition to the Republic of Kazakhstan, the states, or being in their territory;

3) types and circulation periods (actions) of financial instruments;

4) issuers of securities (security identification numbers), banks with whom agreements of contribution, the faces which issued the financial instruments acquired by investment fund are signed;

5) the number of the financial instruments which are switched on in structure of assets of investment fund;

6) the last current value of asset of investment fund and its nominal value (for debt securities) or book value (for shares);

7) date of acquisition of asset of investment fund and its purchase value;

8) the amount of imputed income, including, remunerations on financial instruments.

Chapter 2. Cost determination of assets and liabilities of investment fund

4. The asset cost and obligations of mutual investment fund is determined during the entire period of placement of shares (except for the period of initial placement) and/or during the entire period of the redemption of shares for the end of the working day preceding day of placement and/or the redemption of shares and also:

1) on end date of initial placement of shares of mutual investment fund;

2) as of the end of the last working day every week for open mutual investment fund;

3) as of the end of the last day of every month for interval and closed-end investment fund;

4) in case of suspension of placement and (or) the redemption of shares - on the date of decision making about renewal of their placement and (or) the redemption;

5) in case of the termination of existence of mutual investment fund - for date of emergence of the basis for the termination of its existence;

6) in other cases according to rules of mutual investment fund.

5. The asset cost and obligations of joint-stock investment fund is determined as of the end of the last working day of every month and in other cases according to the prospectus of share issue.

6. The asset cost and obligations of investment fund as of the end of the last working day of every month in the cases specified in subitems 2) and 3) of Item 4, is determined after charge of expenses and payment of remuneration of managing company and to the other persons providing functioning of investment fund.

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