RESOLUTION OF MANAGEMENT OF THE NATIONAL COMMISSION OF THE REPUBLIC OF KAZAKHSTAN ON SECURITIES

of October 8, 1998 No. 164

About approval of Rules of issue of the conclusions recommendations to the organizations performing broker and dealer activities in the security market for the conclusion of contracts for accomplishment of functions of the Primary dealer in the market of government securities of the Republic of Kazakhstan

According to the order of the Minister of Finance of the Republic of Kazakhstan of September 23, 1998 N 436 "About the organization of works on selection of Primary dealers in the market of government securities among institutional investors" Management of the National commission of the Republic of Kazakhstan on securities (further referred to as "The national commission")

decides:

1. Approve Rules of issue of the conclusions recommendations to the organizations performing broker and dealer activities in the security market for the conclusion of contracts for accomplishment of functions of the Primary dealer in the market of government securities of the Republic of Kazakhstan (are applied).

2. To management of licensing and supervision of central office of the National commission:

1) to bring the above-named Rules to the attention of the organizations performing broker and dealer activities in the security market. Ministry of Finance and National Bank of the Republic of Kazakhstan;

2) to inform National Bank of the Republic of Kazakhstan the Rules of issue of zaklyucheniyrekomendation to the companies on management of pension assets for the conclusion of contracts for accomplishment of functions of the Primary dealer in the market of government securities of the Republic of Kazakhstan approved by the resolution of Management of the National commission of June 26, 1998 N 101;

3) to inform the organizations performing broker and dealer activities in the security market, the order of the Minister of Finance of the Republic of Kazakhstan of September 23, 1998 N 436 "About the organization of works on selection of Primary dealers in the market of government securities among institutional investors";

4) to establish control of execution of the above-named Rules.

Approved by the Resolution of Management of the National commission of the Republic of Kazakhstan on securities of October 8, 1998 No. 164

Rules of issue of the conclusions recommendations to the organizations performing broker and dealer activities in the security market for the conclusion of contracts for accomplishment of functions of the Primary dealer in the market of government securities of the Republic of Kazakhstan

These rules are developed according to the legislation of the Republic of Kazakhstan regulating organization activity, performing broker and dealer activities in the security market (further referred to as "Broker dealers"), the order of the Minister of Finance of the Republic of Kazakhstan of September 23, 1998 N 436 "About the organization of works on selection of Primary dealers in the market of government securities among institutional investors" and establish procedure for issue by the National commission of the Republic of Kazakhstan on securities (further referred to as "The national commission") the conclusions recommendations for the conclusion of contracts with the Ministry of Finance of the Republic of Kazakhstan for accomplishment of functions of the Primary dealer in the market of government securities (further referred to as "Conclusion").

Chapter 1. CONDITIONS of RECEIPT of the CONCLUSION

1. The Broker dealers corresponding to the following conditions can apply for receipt of the Conclusion:

1) availability of the current license on implementation of broker and dealer activities in the security market with the right of account management of clients as the nominee holder received in three months prior to filing of application about issue of the Conclusion or earlier;

2) observance of prudential standard rates (standard rates of financial stability) established for Broker dealers within six consecutive months preceding filing of application about issue of the Conclusion (for the Broker dealers who obtained the license for implementation of broker and dealer activities in the security market with the right of account management of clients as the nominee holder within six months before filing of application about issue of the Conclusion - during effective period of this license);

3) compliance to regulations of the current legislation regulating activities of Broker dealers;

4) lack of arrears of the Broker dealer to other subjects of the security market;

5) the operating full membership in self-regulatory organization of professional participants of the security market or in the association of Broker dealers including at least ten chlenovbrokerov-dealers.

Chapter 2. The DOCUMENTS SUBMITTED FOR RECEIPT of the CONCLUSION

2. For receipt of the Conclusion the Broker dealer shall submit the National commission the following documents:

1) the statement of any form with the inventory of the documents enclosed to the application;

2) the balance sheet and disaggregation of accounts payable of the Broker dealer for date of filing of application about issue of the Conclusion;

3) the copy of the order on provision to employees of the Broker dealer of powers on participation in auctions for primary placement of government securities from his name.

3. For the purpose of check on compliance of the Broker dealer to conditions, certain Item 1 of these rules, the National commission has the right to demand from the Broker dealer of submission of additional documents, in addition to the these rules specified in Item 2, and also to address for the necessary information about the Broker dealer other persons.

4. The officials and workers of the Broker dealer who signed documents which were provided to the National commission according to Items 2 and 3 of these rules bear the responsibility for accuracy of the data established by the legislation, containing in these documents.

Chapter 3. CONSIDERATION of DOCUMENTS AND ISSUE of the CONCLUSION

5. The statement of the Broker dealer for issue of the Conclusion without appendix of all documents specified in Item 2 of these rules, the National commission is not accepted and is not considered.

6. The application of the Broker dealer for issue of the Conclusion adopted by the National commission is considered within fifteen working days from the date of acceptance.

In case of submission of additional documents according to Item 3 of these rules the above-stated term of consideration of the application of the Broker dealer about issue of the Conclusion is resumed.

7. In case of compliance of the Broker dealer to conditions, certain Item 1 of these rules, the question of issue of the Conclusion to it is submitted for consideration of the next meeting of Management of the National commission.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info