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 December 29, 2008 No. 238

About approval of Rules of implementation of activities of the central depositary

For the purpose of implementation of the Law of the Republic of Kazakhstan of October 23, 2008 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning stability of financial system", 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 implementation of activities of the central depositary.

2. Recognize invalid the resolution of Board of the Agency of May 27, 2006 as No. 128 "About approval of Rules of implementation of activities of the central depositary", (registered in the Register of state registration of regulatory legal acts at No. 4265).

3. This resolution becomes effective since January 1, 2010.

4. To the central depositary till October 1, 2009 to bring the 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 of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

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 to the attention of the interested divisions of the Agency, Consolidation of legal entities "Association of financiers of Kazakhstan", the central depositary.

6. To service of the Chairman (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 December 29, 2008 No. 238

Rules of implementation of activities of the central depositary

These rules of implementation of activities of the central depositary are developed according to the Civil code of the Republic of Kazakhstan, the Laws of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan", of June 29, 1998 "About payments and money transfers", of July 2, 2003 "About the security market" and establish conditions and procedure of activities of the central depositary in the security market.

1. General provisions

1. For the purposes of these rules the following concepts are used:

1) the client of the depositor - the physical person or legal entity using services of the depositor according to the service provision agreement of nominal continence signed with it;

2) the settlement organization - the organization making at the request of the central depositary transfer and accounting of money in national currency (National Bank of the Republic of Kazakhstan) and foreign currency (the banks of the second level performing custodial activities in the security market of the Republic of Kazakhstan and abroad, the international and foreign depositaries and custodians);

3) the accounting organization - registrar, bank custodian, the international and foreign depositaries in which addressed to the central depositary personal accounts for accounting of financial instruments are opened;

4) sub-account - the sub-account opened within personal account intended for accounting of the financial instruments belonging to the depositor (the client of the depositor) or the organizations performing dealer activities in the security market based on the license of authorized body on regulation, control and supervision of the financial market and the financial organizations (further - authorized body) or according to legal acts of the Republic of Kazakhstan;

5) the reserve center - the organization performing storage of the electronic data constituting system of accounting of the central depositary;

6) authorized body - National Bank of the Republic of Kazakhstan.

2. It is excluded

3. The organizational structure of the central depositary includes the separate divisions performing:

1) depository activity;

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