Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of September 24, 2003 No. 345

About approval of the Standard agreement of participation in Fonda of guaranteeing insurance payments

(as amended on 12-02-2021)

For the purpose of implementation of the Law of the Republic of Kazakhstan "About Fund of guaranteeing insurance payments" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Standard agreement of participation in Fonda of guaranteeing insurance payments.

2. This resolution becomes effective after fourteen days from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan.

3. To department of financial supervision (Bakhmutova E. L.):

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;

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 central office, territorial branches of National Bank of the Republic of Kazakhstan and the insurance (reinsurance) organizations.

4. To impose control over execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Saydenov A. G.

Chairman of National Bank

G. A. Marchenko

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of September 24, 2003, No. 345

Standard agreement of participation in Fonda of guaranteeing insurance payments

Almaty                                                                                      "__" __________ 200 __.

"Fund of Guaranteeing Insurance Payments" joint-stock company (further - Fund) on behalf of the Chairman _____________________, acting on the basis of the Charter, and the Insurance company, Branch of the insurance nonresident organization of the Republic of Kazakhstan (further - insurance company - the participant) ________________ on behalf of the Chairman (the head of Branch of the insurance nonresident organization of the Republic of Kazakhstan (further – the head of Branch) ____________, acting on the basis of the Charter (Provisions about Branch of the insurance nonresident organization of the Republic of Kazakhstan), the hereinafter referred to as Parties, signed the agreement as follows:

The concepts used in this agreement have the interpretation determined by the Law of the Republic of Kazakhstan of June 3, 2003 "About Fund of guaranteeing insurance payments" (further – the Law).

The provision of this agreement determining procedure for participation in Fonda of guaranteeing insurance payments extend to branches of the insurance nonresident organizations of the Republic of Kazakhstan performing insurance activity in the territory of the Republic of Kazakhstan on the guaranteed types of insurance taking into account the features provided by the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity".

Chapter 1. Subject of the agreement

1. Subject of this agreement is participation of insurance company - the participant in Fund according to requirements of the Law and regulatory legal acts of authorized body for regulation, control and supervision of the financial market and the financial organizations (further - authorized body) by payment of compulsory, additional and extraordinary contributions, forming of contingent obligations, and also acceptance on itself the obligations determined by this agreement on additional protection of the rights of insurers.

Chapter 2. Payment procedure of compulsory contributions

2. The insurance company - the participant shall pay compulsory contributions in the amount of, determined according to the rate of compulsory contributions established by Fund annually in coordination with authorized body.

3. Calculation of the amount of compulsory contribution insurance company - the participant is made independently according to the resolution of Board of National Bank of the Republic of Kazakhstan of December 24, 2012 No. 387 "About approval of the Method of calculation of rate of compulsory, additional contributions and contingent obligations, procedure and payment due dates of compulsory, additional and extraordinary contributions, procedure for forming and accounting of contingent obligations by insurance companies - members of Fund of guaranteeing insurance payments", registered in the Register of state registration of regulatory legal acts at No. 8329 (further - the Resolution No. 387).

4. Payment of compulsory contributions is made by the insurance participating organizations performing activities in industry "general insurance", independently into the account of Fund in bank of the second level of the Republic of Kazakhstan opened for accounting of means of reserve of guaranteeing insurance payments for industry "general insurance" following the results of every quarter no later than 15 (fifteenth) following reporting quarter.

Payment of compulsory contributions is made by the insurance participating organizations performing activities in industry "life insurance", independently into the account of Fund in bank of the second level of the Republic of Kazakhstan opened for accounting of means of reserve of guaranteeing insurance payments for industry "life insurance" following the results of financial year no later than 15 (fifteen) calendar days after approval of rate of compulsory contributions.

Chapter 2-1. Payment procedure of additional contributions, the insurance participating organizations performing activities in industry "general insurance"

4-1. The insurance company - the participant, the performing activities in industries "general insurance", pays additional contributions in the amount of, determined according to the rate of additional contributions established by Fund annually in coordination with authorized body.

4-2. Calculation of the amount of additional contribution insurance company - the participant, performing activities in industry "general insurance", is made independently according to the Resolution No. 387.

4-3. Payment of additional contributions is made by insurance company - the participant, performing activities in industry "general insurance", independently into the account of Fund in bank of the second level of the Republic of Kazakhstan opened for accounting of means of reserve of indemnification following the results of every quarter no later than the fifteenth following reporting quarter.

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