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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of February 1, 2010 No. 4

About approval of the Instruction for conducting financial accounting by managing directors of investment portfolio, the organizations performing broker activities in the security market, and the insurance companies having license for activities on industry "life insurance" and performing conclusion of the insurance contracts providing conditions of participation of the insurer in investments of the insurer

(as amended on 14-10-2019)

According to the Law of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan" and for the purpose of enhancement of procedure for conducting financial accounting by managing directors of investment portfolio, the organizations performing broker activities in the security market, and the insurance companies having license for activities on industry "life insurance" and performing conclusion of the insurance contracts providing conditions of participation of the insurer in investments of the insurer the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Instruction for conducting financial accounting by managing directors of investment portfolio, the organizations performing broker activities in the security market, and the insurance companies having license for activities on industry "life insurance" and performing conclusion of the insurance contracts providing conditions of participation of the insurer in investments of the insurer.

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 accounting department (Shalgimbayeva N. T.):

1) together with Legal department (Urtembayev A. K.) take measures to state registration in the Ministry of Justice of the Republic of Kazakhstan of this resolution;

2) this resolution to inform the interested divisions of central office and territorial branches of National Bank of the Republic of Kazakhstan, Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and financial institutions, Consolidation of legal entities "The association of financiers of Kazakhstan", the organizations exercising control of investment portfolio or investment management of pension assets.

4. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Galiyeva D. T.

Chairman of National Bank

G. Marchenko

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of February 1, 2010 No. 4

The instruction for conducting financial accounting by managing directors of investment portfolio, the organizations performing broker activities in the security market, and the insurance companies having license for activities on industry "life insurance" and performing conclusion of the insurance contracts providing conditions of participation of the insurer in investments of the insurer

Chapter 1. General provisions

1. This Instruction is developed according to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan" of July 2, 2003 "About the security market", of July 7, 2004 "About investment and venture funds", of February 28, 2007 "About financial accounting and the financial reporting", international accounting standards and disaggregates conducting financial accounting:

managing directors of investment portfolio of assets of the clients who are in investment management, and the insurance companies having license for activities on industry "life insurance" and performing conclusion of the insurance contracts providing conditions of participation of the insurer in investments of the insurer (further - the organization);

the organizations performing broker activities in the security market (further - the broker) the assets received from clients under the agreement on rendering broker services.

2. When conducting financial accounting of assets of the clients who are in investment management and the assets received from clients under the agreement on rendering broker services, the organization and the broker apply off-balance accounts according to the resolution of Board of National Bank of the Republic of Kazakhstan of September 22, 2008 No. 79 "About approval of the Standard chart of accounts of financial accounting to certain subjects of the financial market of the Republic of Kazakhstan", registered in the Register of state registration of regulatory legal acts at No. 5348.

When conducting financial accounting of assets of the clients who are in investment management of insurance company off-balance accounts according to the resolution of Board of National Bank of the Republic of Kazakhstan of December 22, 2017 No. 251 "About approval of the Standard chart of accounts of financial accounting to the insurance (reinsurance) organizations, the Islamic insurance (reinsurance) organizations, societies of mutual insurance and insurance brokers, the Instruction for conducting financial accounting by the insurance (reinsurance) organizations, the Islamic insurance (reinsurance) organizations, societies of mutual insurance, insurance brokers and about modification and amendments in some regulatory legal acts of the Republic of Kazakhstan concerning conducting financial accounting", registered in the Register of state registration of regulatory legal acts at No. 16390 are applied.

3. Making of the additional accounting entries which are not contradicting requirements of the Law of the Republic of Kazakhstan of February 28, 2007 "About financial accounting and the financial reporting" and to international accounting standards is allowed.

Chapter 2. Accounting of the assets accepted in investment management

4. In case of receipt of assets by the organization in investment management on the amount of the assets accepted according to the agreement on investment management the following accounting entry is performed:

Dt 1800 01 Money

  1800 02 The affined precious metals

  1800 03 Securities

  1800 04 The deposits placed

  1800 05 Investments into the capital

  1800 06 Intangible assets

  1800 07 Fixed assets

  1800 08 Other assets

  1800 09 Accounts to obtaining

  1800 10 Dividends

  1800 11 Remuneration

  1800 12 Other requirements

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