RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of July 3, 1999 No. 157

About approval of Rules of carrying out transactions in clearing system of the Republican state company on the right of economic maintaining "The Kazakhstan center of interbank calculations of National Bank of the Republic of Kazakhstan

For the purpose of enhancement of the regulatory legal base providing functioning of payment system of the Republic of Kazakhstan, the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of carrying out transactions in clearing system of the Republican state company on the right of economic maintaining "The Kazakhstan center of interbank calculations" and enact from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan.

2. To legal department (Sizova S. I.) together with Management of payment systems (Musayev R. N.) to register this resolution and Rules of carrying out transactions in clearing system of the Republican state company on the right of economic maintaining "The Kazakhstan center of interbank calculations" in the Ministry of Justice of the Republic of Kazakhstan.

3. To management of payment systems (Musayev R. N.) in week 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 transactions in clearing system of the Republican state company on the right of economic maintaining "The Kazakhstan center of interbank calculations" to data of branches of National Bank of the Republic of Kazakhstan, having obliged them to bring this resolution and the approved Rules to the attention of banks of the second level.

4. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Abdulina N. K.

Approved by the resolution of Board of National Bank of the Republic of Kazakhstan of July 3, 1999 No. 157

Rules of carrying out transactions in clearing system of the Republican state company on the right of economic maintaining "The Kazakhstan center of interbank calculations of National Bank of the Republic of Kazakhstan"

Chapter 1. General provisions

1. These rules establish procedure for the organization and functioning of clearing system of the Republican state company on the right of economic maintaining "The Kazakhstan center of interbank calculations" (further - System). Services in System are provided to users by the Republican state company on the right of economic maintaining on implementation of payments "The Kazakhstan center of interbank calculations" (further - the Center) based on the agreement signed between them.

2. Payments in System are made by transfer by users to the Center of the electronic messages containing specifying about money transfer (further - payment documents) and their processings on the basis of interbank clearing. The procedure for protective actions used in case of exchange of electronic messages, and responsibility of the Center and users for its violation are established by the usage agreement of program and cryptographic protection and the digital signature. All payments in System are made in national currency of the Republic of Kazakhstan.

3. Determination of net line item of the user is made within remaining balance of money at the user in interbank money transfer system at the time of completion of operational day of System. If the user has no money in interbank money transfer system, then determination of net line item of this user is made within the amount of the payment documents which arrived in its advantage of other users of System. The debit net line item of the user shall not exceed the amount of money which is at this user in interbank money transfer system. Money transfer by results of interbank clearing is made in interbank money transfer system.

4. The basic concepts used in these rules::

1) auditor trace - information intended for control of movement of payment documents in System;

2) authentication - the procedure confirming authenticity and correctness of creation of the payment document which is established by agreement between the Center and the user;

3) payment date - completion date of specifying about money transfer;

3-1) debit queue of the user - consecutive number of the unexecuted payment documents which are in System for certain date according to monetary commitments of this user in relation to other users;

4) interbank clearing (further - clearing) - the process of collection, reconciliation, sorting of instructions of users performed by the Center, and also carrying out their offset and determination of net line items of users of System;

5) priority code - the code determining priority of processing of payment documents in clearing. The code of priority is assigned for the payment document by the sender;

6) credit or debit net line item (balance) of the user - difference between the amount of payment documents according to monetary commitments of all users in relation to one user and the amount of payment documents according to monetary commitments of this user in relation to other users. If the raznostyotritsatelny number, then the user has debit net line item if positive - credit net line item;

6-1) credit queue of the user - consecutive number of the unexecuted payment documents which are in System for certain date according to monetary commitments of other users in relation to this user;

7) operational day - period of time during which the Center performs acceptance of instructions about money transfer and orders about withdrawal of such instructions from users;

8) the sender - the user sending the electronic message to System;

9) the receiver - the user for benefit of whom the payment is made;

10) the user Sistemy (user) - bank or the organization which is performing separate types of banking activities (further - bank), signed the contract with the Center on participation in Sistema and being the sender and/or the receiver of electronic messages;

11) the order about withdrawal of the payment document - the electronic message by means of which the user makes withdrawal of the payment document from System;

12) referens transactions - the unique number identifying the electronic message in System;

12-1) electronic debit message - the payment message of the receiver containing the requirement to the user about payment of certain amount of money;

13) the electronic message - any electronic message, including the electronic payment document, transferred in System.

Chapter 2. Users

5. The bank is acquired by the status of the user after the conclusion with the Center of the contribution agreement in System (further - the agreement). Agreement cancelation involves deprivation of bank of the status of the user. The form of the agreement is developed by the Center taking into account requirements of Item 8 of these rules.

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