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ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of April 5, 1999 No. 363

About approval of Rules of release, the address and repayment of special currency government bonds with circulation period five years

(as of October 28, 2001)

For the purpose of protection of pension assets of the accumulation Government of the Republic of Kazakhstan pension funds decides:

1. Approve the enclosed Rules of release, the address and repayment of special currency government bonds with circulation period five years.

2. To the Ministry of Finance of the Republic of Kazakhstan together with National Bank of the Republic of Kazakhstan as the financial agent to organize release into the stream of commerce of special currency government bonds with circulation period five years by exchange of the state treasury obligations and national savings bonds nominated in the tenges acquired by the accumulation pension funds at the expense of pension assets and which are in their portfolio as of April 3, 1999 for special currency government bonds with circulation period five years.

3. Determine that exchange is performed on voluntary basis by giving by the companies on management of pension assets of written requests to National Bank of the Republic of Kazakhstan (for the svedeniyanatsionalny commission of the Republic of Kazakhstan on securities) till April 8, 1999.

4. This resolution becomes effective from the date of signing and is subject to publication.

 

Prime Minister

Republic of Kazakhstan N. Balgimbayev

Approved by the order of the Government of the Republic of Kazakhstan of April 5, 1999 No. 363

Rules of release, the address and repayment of special currency and government bonds with circulation period five years

1. General provisions

1. These rules determine procedure for release, the address and repayment of special currency government bonds with circulation period five years (further - special currency government bonds).

2. Special currency government bonds (ABMEKAM) nominal value of 100 US dollars are issued by the Ministry of Finance of the Republic of Kazakhstan (further - the issuer) on behalf of the Government of the Republic of Kazakhstan for the purpose of protection of pension assets of the accumulation pension funds.

3. Release of special currency government bonds is performed by exchange of the state treasury obligations and national savings bonds nominated in the tenges acquired by the accumulation pension funds at the expense of pension assets and which are in their portfolio as of April 3, 1999 for special currency government bonds.

4. Exchange is performed by the early redemption by the Ministry of Finance of the Republic of Kazakhstan of the state treasury obligations and national savings bonds and uses of the received revenue in tenge for payment of special currency government bonds. The redemption is made on the current value of the state treasury obligations and national savings bonds approved with National Bank of the Republic of Kazakhstan. Payment of purchase of special currency government bonds is made in tenge at the rate 88, of 3 tenges for one US dollar.

5. Special currency government bonds grant to owners the right to their nominal value in case of repayment and on receipt of remuneration (interest) in the amount of % per annum 6,14, at the same time for calculation of the amount of remuneration for the corresponding period the number of calendar days in settlement period of the circulation of special currency government bonds and 365 days in year is used.

6. Special currency government bonds, have the paperless form, take place and address by conducting the corresponding records on accounts of "depot" of their holders in "Central Securities Depository" private company (further depositary) and on the accounts of "depot" opened at primary dealers in the market of government securities on their investors.

7. The National Bank of the Republic of Kazakhstan acts as the financial agent performing repayment of special currency government bonds. Relations between the issuer and the financial agent are regulated by the current legislation of the Republic of Kazakhstan and these rules.

2. Circulation of special currency government bonds

8. The circulation of special currency government bonds begins since April 12, 1999.

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