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The document ceased to be valid since March 25, 2016 according to Item 2 of the Resolution of Board of National Bank of the Republic of Kazakhstan of December 31, 2015 No. 261

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of November 15, 1999 No. 397

About approval of Rules of carrying out the second level of transactions by banks with translated and promissory notes

(as amended of the Resolution of Board of National Bank of the Republic of Kazakhstan of 13.05.2005 No. 61)

For the purpose of enhancement of circulation of bills in the territory of the Republic of Kazakhstan the Board of National Bank of the Republic of Kazakhstan decides:

1. Approve the enclosed Rules of carrying out the second level of transactions by banks with translated and promissory notes and enact them from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan.

2. To department of banking supervision (Zhumagulov B. K.):

1) together with Legal department (Sharipov S. B.) to take measures to state registration in the Ministry of Justice of the Republic of Kazakhstan of this resolution and Rules of carrying out the second level of transactions by banks with translated and promissory notes;

2) in ten-day time from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan to bring this resolution and Rules of carrying out the second level of transactions by banks with translated and promissory notes to data of branches of National Bank of the Republic of Kazakhstan and banks of the second level.

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

 

Chairman

National Bank of G. A. Marchenko

Approved by the resolution of Board of National Bank of the Republic of Kazakhstan of November 15, 1999 No. 397

Rules of carrying out the second level of transactions by banks with translated and promissory notes

These rules are developed according to the Laws of the Republic of Kazakhstan "About circulation of bills in the Republic of Kazakhstan", "About banks and banking activity in the Republic of Kazakhstan" and determine procedure the banks of the second level of the Republic of Kazakhstan and the organizations performing separate types of banking activities (further - banks), transactions with translated and promissory commercial bills (further - bills of exchange).

Chapter 1. General provisions

1. Banks in the presence of the license of authorized body on regulation and supervision of the financial market and the financial organizations (further - authorized body) on the right of carrying out the corresponding transactions have the right to carry out the following transaction types with bills of exchange:

1) adoption of bills for collection;

2) provision of services on payment of the bills of exchange accepted for collection by the payer, and also payment of domiciled bills;

3) the acceptance of bills of exchange according to the procedure of mediation

4) putting down of avals for any of the obliged persons on the bill of exchange;

5) it is excluded

The transactions specified in subitems 1) - 3) this Item are carried out by bank in the presence at bank of the license for transactions with bills of exchange.

The transaction specified in the subitem 4) of this Item is carried out by bank of the second level in the presence at it the license for issue of the bank guarantees providing execution in cash.

Transactions on accounting of bills of exchange perform only the banks of the second level having the license for implementation of accounting transactions.

The procedure of accounting of bills of exchange by banks of the second level is regulated by separate regulatory legal act of National Bank.

2. The terms and determinations used in these rules mean the following:

1) the aval - bill guarantee in case of which person which made it assumes liability on implementation of payment on the bill of exchange (completely or in part) for other person obliged on the bill of exchange;

2) the acceptance - the written consent to payment of the bill of exchange;

3) remitting bank - the bank accepting the order for collection;

4) the principal - the client of bank which charges to the last to perform transaction on collection of the bill of exchange;

5) domitsiliant - the payer according to bill of exchange and the drawer according to the promissory note;

6) domitsiliat - the bank specified in the bill of exchange as the intermediary making payment on the bill of exchange. Domitsiliat is not person obliged on the bill of exchange;

7) domitsiliation - making payment on the bill of exchange the third party (bank-domitsiliatom) at the request of the payer according to bill of exchange or the drawer according to the promissory note;

8) the domiciled bill - the bill of exchange which is subject to payment by the third party in other place than the residence of the payer, from name and at the expense of the payer, in case of designation about it on the bill of exchange;

9) the domicile - the place of making payment specified in the bill of exchange;

10) inkassat - the bank which received the bill of exchange according to the preporuchitelny endorsement for collection can be remitting bank or the collecting bank;

11) the collecting bank - the bank participating in transaction on collection, not being remitting bank;

12) the collection of bills of exchange (collection) - transaction on presentation of bills of exchange to payment and obtaining of payment on them banks of the second level according to orders of clients;

13) the order for collection - the instruction of the client to remitting bank containing exact and complete instructions about receipt of payment for the bill of exchange in time, specified in the bill of exchange, and/or timely making of protest in non-payment of the bill of exchange.

3. The bank when implementing transactions with bills of exchange shall check correctness of creation of each bill of exchange transferred to it, and also execution of endorsements on bills of exchange. The bank has the right to perform transactions only with bills of exchange which details meet the requirements of the legislation and shall refuse implementation of transaction with bills of exchange if in it there are no obligatory details established by the Law of the Republic of Kazakhstan "About circulation of bills in the Republic of Kazakhstan (further - the Law).

4. The bank has the right to refuse implementation of transactions with bills of exchange if the sequence of endorsements was interrupted. The bank shall not verify authenticity of signatures of endorsees. However the bank can check existence of the drawer, payer on the bill of exchange and other persons obliged on the bill of exchange.

5. The bank shall refuse implementation of transactions with bills of exchange if the payment due date on the bill of exchange expired.

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