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 November 28, 2008 No. 196

About approval of Rules of recognition of the bargains concluded in the organized market of securities as made for the purpose of manipulation, forming and works of committee of the board of directors of stock exchange concerning recognition of the security transactions made for the purpose of manipulation, and also its quantitative structure

For the purpose of increase in degree of transparency and efficiency of functioning of the security market, protection of the rights and interests of investors, and also according to article 56 of the Law of the Republic of Kazakhstan of June 2, 2003 "About the security market", the Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations (further - the Agency) DECIDES:

1. Approve the enclosed Rules of recognition of the bargains concluded in the organized market of securities as made for the purpose of manipulation, and forming and works of committee of the board of directors of stock exchange concerning recognition of the security transactions made for the purpose of manipulation and also its quantitative structure.

2. Recognize invalid:

1) the resolution of Board of the Agency of March 26, 2005 No. 110 "About approval of Rules of recognition of security transactions as concluded with the manipulation purpose the prices" (registered in the Register of state registration of regulatory legal acts at No. 3615);

2) the resolution of Board of the Agency of August 27, 2005 No. 312 "About entering of amendment into 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 March 26, 2005 No. 110 "About approval of Rules of recognition of security transactions as concluded with the manipulation purpose the prices" (registered in the Register of state registration of regulatory legal acts at No. 3844);

3) the resolution Board of the Agency of May 26, 2008 No. 78 "About modification of 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 March 26, 2005 No. 110 "About approval of Rules of recognition of security transactions as concluded with the manipulation purpose the prices" (registered in the Register of state registration of regulatory legal acts at No. 5259, published on August 1, 2008 in the Yuridicheskaya Gazeta newspaper No. 116 (1516), on September 15, 2008 in the Collection of acts of the central executive and other central state bodies of the Republic of Kazakhstan No. 9).

3. This resolution becomes effective after day of its first official publication.

4. JSC Kazakhstan stock Exchange within ten working days from the date of state registration of this resolution to bring the organizational structure and internal documents into accord with requirements of this resolution.

5. To department of supervision of subjects of the security market and accumulation pension funds (Hadzhiyeva M. Zh.):

1) together with Legal department (Sarsenov N. V.) 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 of this resolution to bring this resolution to the attention of the interested divisions of the Agency, organizers of the biddings and Consolidation of legal entities "Association of financiers of Kazakhstan".

6. To service of the Chairman of the Agency (Kenzhe A. A.) take measures for publication of this resolution in mass media of the Republic of Kazakhstan.

7. To impose control of execution of this resolution on the vice-chairman of the Agency Aldambergen A. U.

Approved by 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 November 28, 2008 No. 196

Rules of recognition of the bargains concluded in the organized market of securities as made for the purpose of manipulation, and forming and works of committee of the board of directors of stock exchange concerning recognition of the security transactions made for the purpose of manipulation and also its quantitative structure

These rules are developed according to article 56 of the Law of the Republic of Kazakhstan of June 2, 2003 "About the security market" (further - the Law on the security market) and establish procedure and conditions of recognition of the bargains concluded in the organized market of securities as made for the purpose of manipulation, and also procedure for forming and work of committee of the board of directors of stock exchange concerning recognition of the security transactions made for the purpose of manipulation and also its quantitative structure.

1. The transaction made at the price which is previously stipulated between its parties, significantly different from the prices of these securities which developed in the security market to the conclusion of such transaction the bargain concluded at the auction held by stock exchange, method of the conclusion of direct transactions or on which the same bidder acts as the parties of the transaction is recognized if:

1) in case of the conclusion of the transaction with shares the variation of the price of this transaction with shares from the weighted market price of these shares calculated according to Item 3 of these rules constitutes thirty and more percent;

2) in case of the conclusion of the transaction with bonds (including with the government issued securities) the variation of profitability of these bonds to repayment according to the price of this transaction from the weighted market average yield of these bonds to repayment calculated according to item 4 of these rules constitutes three and more than percent point.

2. The following transactions corresponding to the condition provided by the subitem 1) of Item 5 of article 56 of the Law on the security market are not committed for the purpose of manipulation:

1) transactions of opening and closing of "repo" which belong to the same transaction of the "repo" performed in the sector of trade system of stock exchange intended for such transactions;

2) two transactions of the same amount with the same securities, the second of which is concluded for the purpose of correction of the technical mistake made in case of the conclusion of the first of these transactions;

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