RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of July 20, 2000 No. 301

About approval of Rules of replacement of the bank notes of national currency which are in circulation in case of change of their design (form)

According to Articles 40, "About National Bank of the Republic of Kazakhstan" and for the purpose of implementation of additional measures for protection of bank notes against counterfeits the Board of National Bank of the Republic of Kazakhstan DECIDES: 43 and 45 Laws of the Republic of Kazakhstan

1. Approve the enclosed Rules of replacement of the bank notes of national currency which are in circulation in case of change of their design (form) and enact them from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan.

2. To management on work with cash (Mazhitov D. M.):

1) together with legal department (Sharipov S. B.) in accordance with the established procedure to take measures to state registration of this resolution and Rules of replacement of the bank notes of national currency which are in circulation in case of change of their design (form) (further - Rules) in the Ministry of Justice of the Republic of Kazakhstan;

2) after state registration of this resolution and Rules in the Ministry of Justice of the Republic of Kazakhstan together with management of the international relations and public relations (Sembiyev N. K.) publish in republican newspapers (in the state and Russian languages) this resolution and Chapter 1-4 of Rules, the infringing interests of citizens and legal entities;

3) after state registration of this resolution and Rules in the Ministry of Justice of the Republic of Kazakhstan to bring this resolution and Rules to the attention of the interested divisions of central office, branches of National Bank of the Republic of Kazakhstan and banks of the second level of the Republic of Kazakhstan, and also Central Banks of foreign states.

3. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Kudyshev M. T.

Approved by the resolution of Board of National Bank of the Republic of Kazakhstan of July 20, 2000 No. 301

Rules of replacement of the bank notes of national currency which are in circulation in case of change of their design (form)

Chapter 1. General provisions

1. These rules are developed according to the Law of the Republic of Kazakhstan "About National Bank of the Republic of Kazakhstan" and other regulatory legal acts of the Republic of Kazakhstan.

2. These rules regulate procedure for modification of design (form) of bank notes, implementation of cash transactions during replacement of the bank notes of old design (form) which are in circulation by the corresponding bank notes of new design (form).

3. In these rules the following basic concepts are used:

1) change of design (form) of the bank note - change and introduction of graphical representations, the text, introduction of additional elements of protection against counterfeits, changes of the sizes, forms, colors, initial materials and other signs;

2) bank notes of new sample - the bank notes of national currency released and having new excellent sign from former design (form);

3) bank notes of old sample - the bank notes of national currency of former design (form) which are subject to retirement;

4) division on work with cash - division of central office of National Bank;

5) branches of National Bank - territorial branches and the Center of cash transactions and storage of values (branch) of National Bank;

6) banks of the second level - the banks of the second level and the organization performing separate types of banking activities.

Chapter 2. Conditions of release into the stream of commerce of bank notes of new sample

4. The decision on modification of design (form) of bank notes of national currency is made by the resolution of Board of National Bank of the Republic of Kazakhstan (further - National Bank) according to the offer of division on work with cash.

5. Can form the bases for modification of design (form) of bank notes:

1) introduction of additional elements of protection against counterfeits;

2) other bases connected with need of providing solvency of bank notes of national currency.

6. The National Bank has the right to make the decision on modification of design (form) of bank notes at the same time of several nominals.

7. After adoption of the resolution of Board of National Bank on modification of design (form) of bank notes by division on work with cash events for preparation of replacement of the bank notes of old sample which are in circulation on bank notes of new sample are held.

8. When replacing the bank notes of old sample which are in circulation by bank notes of new sample the National Bank publishes the resolution of Board and the official report of National Bank in mass media (press organs), carries out explanatory work (comments) to seals, on television and radio, including terms and procedure for exchange of bank notes.

The official report of National Bank about replacement of the bank notes of old sample which are in circulation by bank notes of new sample shall contain:

1) date (day) of issuance of the bank note of new sample, its nominal and short description of design (form);

2) the period of the parallel circulation of bank notes of new and old is model since day of issuance of the bank note of new sample;

3) date (day) of completion of the period of the parallel circulation of bank notes of new and old it is model since which bank notes of old sample stop being legal means of payment in the territory of the Republic of Kazakhstan.

The National Bank from the date of enforcement of the resolution of Board of National Bank informs in a month branches of National Bank, the Central (national) Banks of foreign countries and bodies of financial police of condition and terms of replacement of the bank notes of national currency which are in circulation, sends the description and samples of bank notes of new sample.

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