THE LETTER OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND SUPERVISION OF THE FINANCIAL MARKET AND THE FINANCIAL ORGANIZATIONS

of January 19, 2011 No. 10-02-05/264/880

Concerning accreditation of the appraiser (independent expert)

Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations (further - the Agency), having considered the letter of Jambyl regional chamber of appraisers from 06.01.11g. No. 02/02, reports the following.

For accreditation of the appraiser (independent expert) having the license for implementation of estimative activities for property assessment (except for intellectual property items, the cost of intangible assets), it is necessary to provide documents according to Item 1 of article 18-1 of the Law of the Republic of Kazakhstan of July 1, 2003 "About compulsory insurance of civil responsibility of owners of vehicles" (further - the Law):

1) the statement in the form established by regulatory legal act of authorized body;

2) copy of the license for implementation of estimative activities for property assessment (except for intellectual property items, cost of intangible assets);

3) the copy of the certificate on state registration of the applicant as the individual entrepreneur - for the individual entrepreneur;

4) copies of the certificate on state registration and constituent documents of the legal entity;

5) the copy of the certificate on statement of the applicant on accounting in tax authority;

6) data on availability in the state at least two workers having the license for implementation of estimative activities for property assessment (for legal entities), in the form established by regulatory legal act of authorized body with appendix of supporting documents (the copy of the license for implementation of estimative activities for property assessment (except for intellectual property items, the cost of intangible assets)).

The application for passing of accreditation is submitted in form according to appendix 1 to Rules of accreditation of the appraiser (independent expert) having the license for implementation of estimative activities for property assessment (except for intellectual property items, the cost of intangible assets), the approved resolution of Board of the Agency on March 1, 2010 No. 27 (further - Rules) for physical persons, according to appendix 2 to Rules for legal entities.

Data on availability in the state at least two workers having the license for implementation of estimative activities for property assessment (except for intellectual property items, the cost of intangible assets) for legal entities, are represented in form according to appendix 3 to Rules.

The term of consideration of documents and decision making about issue of the certificate on accreditation or decisions on refusal in accreditation is stipulated in Item 3 articles 18-1 of the Law. The procedure for carrying out accreditation is regulated by Item 5 of the above rules.

In addition we report that the Presidential decree of the Republic of Kazakhstan "About approval of standards of the state services rendered by Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations" of September 21, 2010 to No. 1063 approves standards of the state services rendered by the Agency. Including, the "Accreditation of the Physical Person Or Legal Entity Having License for Activities according to Property (Except for Intellectual Property Items, the Cost of Intangible Assets)" standard is also posted on the website of the Agency: www.afn.kz, in the Section "Legislation", further "Insurance sector", further "Regulation".

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