of October 2, 2009 No. 1520
About approval of Rules of issue of securities for the address in the domestic market by local executive body of area, city of republican value, the capital
According to Article 212 of the Budget code of the Republic of Kazakhstan of December 4, 2008 the Government of the Republic of Kazakhstan DECIDES:
2. Declare invalid the order of the Government of the Republic of Kazakhstan of March 15, 2008 No. 252 "About approval of Rules of issue of securities for the address in the domestic market by local executive body of the city of republican value, the capital" (SAPP of the Republic of Kazakhstan, 2008, No. 14, the Art. 133).
Prime Minister of the Republic of Kazakhstan
Approved by the Order of the Government of the Republic of Kazakhstan of October 2, 2009 No. 1520
1. These rules of issue of securities in the domestic market by local executive body of area, city of republican value, the capital (further – Rules) are developed for the address according to the Budget code of the Republic of Kazakhstan and the Law of the Republic of Kazakhstan "About the security market" and determine procedure for release, placement, the address, servicing and repayment of government securities of local executive bodies of areas, cities of republican value, the capital in the territory of the Republic of Kazakhstan.
2. In these rules the following concepts are used:
1) the underwriter – the professional participant of the security market having the license for implementation of broker and dealer activities and rendering services to the issuer on release and placement of issued securities;
2) securities – the government issued securities emitted by local executive bodies of area, city of republican value, the capital;
3) the primary dealer – the professional participant of the security market allowed in accordance with the established procedure to participation in securities placement;
4) the set of rules of depositary – the internal document of depositary based on which the depositary performs servicing and the securities redemption;
5) the central depositary (further – depositary) – the "Central Securities Depository" joint-stock company performing functions of the payment agent in case of securities placement on payment of the income for securities and in case of their repayment, function on depositary servicing of securities according to the agreement signed with the issuer;
6) the organizer of the biddings – Kazakhstan stock exchange joint-stock company;
7) rules of the organizer of the biddings – the internal document of the organizer of the biddings based on which the organizer of the biddings performs securities placement;
8) the issuer – local executive body of area, city of republican value, the capital.
At the same time local executive bodies of area can be issuers only of the government securities issued by local executive bodies of areas for the address in the domestic market for financing of construction of housing within implementation of state programs, and also other securities issued for financing in accordance with the established procedure of separate actions for employment assistance.
3. Securities can be issued by the issuer in paperless form. Servicing of securities (charge and payment of remuneration) is performed in national currency.
4. Each release has the international identification number (ISIN) assigned by the central depositary according to the legislation of the Republic of Kazakhstan.
5. Securities are placed the issuer by holding the auction, additional placement, repeated opening, subscription and other methods, statutory rules of the organizer of the biddings.
6. The issuer when implementing issue of securities has the right to involve the underwriter.
7. Accounting of securities and rights by them is performed on personal accounts of primary dealers in depositary and on individual sub-accounts of the investors opened on personal accounts of primary dealers.
The depositary performs functions of the payment agent which consist in implementation of payment under securities in the primary market in case of placement, in the secondary market in case of the address and the securities redemption, and also in depositary servicing of securities.
At the same time the total volume of the state borrowing of local executive bodies shall not exceed the set limit of debt of the relevant local executive body.
9. The issuer in time not later than ten calendar days before date of placement informs the Ministry of Finance of the Republic of Kazakhstan on date of placement, amounts of the forthcoming release.
10. Conditions and procedures of methods of placement, servicing and the securities redemption are established by rules of the organizer of the biddings and the set of rules of depositary respectively.
11. Legal entities and physical persons - residents and nonresidents of the Republic of Kazakhstan can acquire securities through primary dealers.
12. The remuneration rate, amount of securities placement are approved with the Ministry of Finance of the Republic of Kazakhstan.
13. Day of implementation by depositary of payment under the placed securities is considered day of the beginning of security circulation. Last afternoon of the address the day preceding repayment day of these securities is considered.
14. In the first afternoon for which remuneration on these securities is charged day of the beginning of their address, and the last the dnemposledny day preceding day of their repayment is.
Payment of remuneration for securities is made in the days established by conditions of release of separate types of securities. The last payment of remuneration matches repayment day of securities if other term is not provided by conditions of issue of securities. If the remuneration payment date on securities falls on non-working day, then payment is made in the first working day following non-working day.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system
If you cannot find the required document, or you do not know where to begin, go to Help section.
In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.
You also may open the section Frequently asked questions. This section provides answers to questions set by users.