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ORDER OF THE GOVERNMENT REPUBLIC OF KAZAKHSTAN

of April 9, 1999 No. 398

About approval of Rules of release, the address and repayment of the state short-term treasury currency obligations of the Republic of Kazakhstan with circulation period three, six, nine and twelve months

(as of October 28, 2001)

For the purpose of expansion of types of the tools used for financing of deficit of the republican budget, the Government of the Republic of Kazakhstan decides:

1. Approve the enclosed Rules of release, the address and repayment of the state short-term treasury currency obligations of the Republic of Kazakhstan with circulation period three, six, nine and twelve months.

2. To the Ministry of Finance of the Republic of Kazakhstan together with National Bank of the Republic of Kazakhstan (in coordination) as the financial agent to organize release into the stream of commerce of the state short-term treasury currency obligations within limit of the government debt approved by the Law of the Republic of Kazakhstan on the republican budget for the corresponding year.

3. Determine that money from primary placement of the state short-term treasury currency obligations arrives in the republican budget.

4. This resolution becomes effective from the date of signing.

 

Prime Minister of the Republic of Kazakhstan N. Balgimbayev

Approved by the order of the Government of the Republic of Kazakhstan of April 9, 1999 No. 398

Rules of release, the address and repayment of the state short-term treasury currency obligations of the Republic of Kazakhstan with circulation period three, six, nine and twelve months

1. General provisions

1. These rules determine procedure for release, the address and repayment of the state short-term treasury currency obligations with circulation period three, six, nine and twelve months in the territory of the Republic of Kazakhstan (further - treasury obligations).

2. The name "state short-term treasury currency obligation" (GKVO) in state language hereinafter is referred to as as "Memlekettik kyskamerzimdi kazynashylyk valyutalyk mindetteme" (MEKABM)

3. Treasury obligations are issued government securities, 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 financing of the current deficit of the republican budget and freely are traded on the securities market of the Republic of Kazakhstan according to the current legislation of the Republic of Kazakhstan.

4. Treasury obligations are issued in paperless form, take place and address by conducting the corresponding records on accounts of "depot" in private company "The central depositary valuable paper (further - Depositary) and on the accounts of "depot" opened at primary dealers in the market of government securities on their investors.

2. Release and placement

5. Each release has the national identification number assigned by National Bank of the Republic of Kazakhstan according to the current legislation, agrees to the release parameters approved by the Issuer.

6. Nominal value of treasury obligation - 100 US dollars.

7. The National Bank of the Republic of Kazakhstan acts as the financial agent performing placement and repayment of treasury obligations (further - the Financial agent). Relations between the Issuer and the Financial agent are regulated by the current legislation of the Republic of Kazakhstan, regulatory legal acts of the Ministry of Finance and National Bank of the Republic of Kazakhstan, these rules, the agreement on primary placement and the address of government securities of the Republic of Kazakhstan signed between the Ministry of Finance and National Bank of the Republic of Kazakhstan.

8. Treasury obligations are placed among investors at the discounted price determined by auction method. The satisfaction of requests of participants of auction begins with the proposals submitted at the highest price for treasury obligation before achievement of the announced issue amount taking into account non-competitive requests.

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