Document from CIS Legislation database © 2003-2019 SojuzPravoInform LLC

LAW OF THE REPUBLIC OF KAZAKHSTAN

of July 2, 2003 No. 461-II

About the security market

(The last edition from 03-07-2019)

This Law governs the public relations arising in the course of release, placement, the address and repayment of issued securities and other financial instruments, feature of creation and activities of subjects of the security market, determines procedure for regulation, control and supervision of the security market for the purpose of ensuring safe, open and effective functioning of the security market, protection of the rights of investors and security holders, fair competition of members of the security market.

Chapter 1. General provisions

Article 1. The basic concepts used in this Law

For the purposes of this Law the following basic concepts are used:

1) the agency bond - the bond which issuer is the financial agency or the legal entity performing the redemption of mortgage loans of the physical persons which are not connected with business activity which hundred percent of shares belong to National Bank of the Republic of Kazakhstan;

2) the convertible security - the security of joint-stock company which is subject to replacement by its security of other type on the conditions and according to the procedure determined by the prospectus of release;

3) 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;

3-1) method of open tenderings - method of the biddings in case of which the bidder submitted the application and presumably are present the competition between potentially any number of bidders;

4) security - set of the certain records and other designations certifying property rights;

5) nominal continence of securities - making from name and at the expense of security holders of certain legal acts according to the agreement of nominal continence or according to this Law, and also accounting and confirmation of the rights on securities and registration of security transactions of such holders;

6) the security quotation - the price of demand and (or) the offer announced on security at a given time in the organized market of securities;

7) the primary security market - placement of the announced issued securities by the issuer (the underwriter or issued consortium), except for further placement by the issuer of the issued securities which are earlier redeemed by it in the secondary security market;

7-1) integrated information system of the stock exchange market of securities - complex of material means and internal documents of stock exchange with which use exchange of quotations is supported and are provided possibility of the conclusion of transactions between its users;

8) the secondary security market - the legal relationship developing between subjects of the security market in the course of the circulation of the placed securities;

9) system of registers of security holders - set of information about the issuer, the issued securities and their holders providing identification of holders of the rights on issued securities to certain timepoint, registration of security transactions, and also nature of the registered restrictions for the address or implementation of the rights on these securities, and other data according to regulatory legal act of authorized body;

10) manipulation in the security market - the actions of subjects of the financial market directed to establishment and (or) maintenance of the prices (rates) of securities and other financial instruments, including foreign currencies and derivative financial instruments, above or below those which were established as a result of objective ratio of the supply and demand, on creation of visibility of trade in security or other financial instrument, on transaction with use of insider information;

11) the professional participant of the security market - the legal entity performing the activities in the security market based on the license or according to legal acts of the Republic of Kazakhstan;

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