ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of April 3, 2009 No. 466

About approval of Rules of release, placement, the address, servicing and repayment of the state treasury obligations of the Republic of Kazakhstan

According to Article 206 of the Budget code of the Republic of Kazakhstan the Government of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of release, placement, the address, servicing and repayment of the state treasury obligations of the Republic of Kazakhstan.

2. From the moment of the last repayment of the government securities issued till January 1, 2009 to recognize invalid:

1) the order of the Government of the Republic of Kazakhstan of September 8, 2004 No. 941 "About approval of Rules of release, placement, the address, servicing and repayment of the state treasury obligations of the Republic of Kazakhstan" (SAPP of the Republic of Kazakhstan, 2004, No. 33, the Art. 451);

2) the order of the Government of the Republic of Kazakhstan of August 4, 2005 No. 813 "About modification of the order of the Government of the Republic of Kazakhstan of September 8, 2004 No. 941" (SAPP of the Republic of Kazakhstan, 2005, No. 32, the Art. 434).

3. This resolution becomes effective since January 1, 2009.

Approved by the Order of the Government of the Republic of Kazakhstan of April 3, 2009 No. 466

Rules of release, placement, address, servicing and repayment of the state treasury obligations of the Republic of Kazakhstan

Chapter 1. General provisions

1. These rules determine procedure for release, placement, the address, servicing and repayment of the state treasury obligations (further - treasury obligations) in the territory of the Republic of Kazakhstan.

2. Treasury obligations are the government issued securities emitted by the Ministry of Finance of the Republic of Kazakhstan on behalf of the Government of the Republic of Kazakhstan.

Chapter 2. The concepts used in these rules

3. In these rules the following concepts are used:

1) issuer - Ministry of Finance of the Republic of Kazakhstan;

2) the financial agent - the legal entity for and on behalf of the issuer performing placement of treasury obligations based on the agency agreement signed with the issuer about placement of treasury obligations;

3) the central depositary - the specialized non-commercial joint-stock company performing types of activity, stipulated in Item 2-1 article 45 of the Law of the Republic of Kazakhstan "About the security market" (further - the Law). The central depositary according to the agreement signed with the issuer performs functions of the payment agent and function on accounting and servicing of treasury obligations;

4) internal regulations of placement of treasury obligations - the internal document of the financial agent approved with the issuer based on whom the financial agent performs placement of treasury obligations;

5) internal regulations of servicing and repayment of treasury obligations - the internal document of the central depositary approved with the issuer based on whom the central depositary performs servicing and repayment of treasury obligations;

6) the primary dealer - the professional participant of the security market allowed in accordance with the established procedure to participation in placement of treasury obligations and conforming to the requirements established by the issuer in coordination with National Bank of the Republic of Kazakhstan;

7) the agent on placement of special medium-term treasury obligations (further - the agent) - the legal entity for and on behalf of the issuer performing placement of special medium-term treasury obligations based on the agency agreement signed with the issuer, having the license for opening and maintaining bank accounts of physical persons, for occupation broker and dealer activities with the right of command of customer accounts as the nominee holder, transfer - agency activities;

8) the depositor - the organization, being the client of the central depositary.

4. General financial agent of the issuer is the National Bank of the Republic of Kazakhstan which performs functions of the financial adviser of the issuer concerning borrowing in the domestic financial market based on the general agency agreement signed with the issuer.

Chapter 3. General terms of release, placement, address, servicing and repayment of treasury obligations

5. Treasury obligations are issued in paperless form.

6. Each release has the international identification number (ISIN) assigned by the central depositary according to the Law.

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