RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of February 13, 2012 No. 32

About approval of Rules of implementation of trust management of the bank shares, the insurance (reinsurance) organization, the managing director of investment portfolio belonging to the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, the bank holding, insurance holding or person having signs of the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, bank holding, insurance holding, and also actions of authorized body or national managing holding during trust management

According to the Law of the Republic of Kazakhstan of December 28, 2011 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning banking regulation and the financial organizations regarding risk minimization" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve enclosed the Rule of implementation of trust management of the bank shares, the insurance (reinsurance) organization, the managing director of investment portfolio belonging to the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, the bank holding, insurance holding or person having signs of the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, bank holding, insurance holding, and also actions of authorized body or national managing holding during trust management.

3. This resolution becomes effective after ten days after day of its first official publication.

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of February 13, 2012 No. 32

The rule of implementation of trust management of the bank shares, the insurance (reinsurance) organization, the managing director of investment portfolio belonging to the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, the bank holding, insurance holding or person having signs of the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, bank holding, insurance holding, and also actions of authorized body or national managing holding during trust management

These rules of implementation of trust management of the bank shares, the insurance (reinsurance) organization, the managing director of investment portfolio belonging to the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, the bank holding, insurance holding or person having signs of the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, bank holding, insurance holding, and also actions of authorized body or national managing holding during trust management (further - Rules) are developed according to the laws of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks), of December 18, 2000 "About insurance activity" (further - the Insurance law), of July 2, 2003 "About the security market" (further - the Law on the security market) also establish procedure of trust management of the bank shares, the insurance (reinsurance) organization, the managing director of investment portfolio belonging to the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, the bank holding, insurance holding or person having signs of the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio, bank holding, insurance holding, and also actions of authorized body or national managing holding during trust management.

1. For the purposes of Rules the following concepts are used:

1) the financial organization - bank, the insurance (reinsurance) organization, the managing director of investment portfolio;

2) shares of the financial organization - the bank shares belonging to the large member of bank, the bank holding or person having signs of the large member of bank or bank holding, the shares of the insurance (reinsurance) organization belonging to the large member of the insurance (reinsurance) organization, the insurance holding or person having signs of the large member of the insurance (reinsurance) organization, insurance holding, the shares of the managing director of investment portfolio belonging to the large participant or person having signs of the large member of the managing director of investment portfolio;

3) trustee - National Bank of the Republic of Kazakhstan (further - National Bank) or national managing holding.

2. Trust management of shares of the financial organization is established in cases, stipulated in Item 3 articles 47-1 of the Law on banks, by Item 3 of Article 53-4 of the Insurance law, Item 3 of article 72-3 of the Law on the security market and based on the decision of National Bank taking into account requirements of Chapter 44 of the Civil code of the Republic of Kazakhstan (Special part) of July 1, 1999 (further - the Code) and Governed.

3. In the decision of National Bank on organization of trust management of shares of the financial organization are specified:

1) foundations of organization of trust management;

2) name of the trustee;

3) quantity and type of the shares of the financial organization delivered in trust management;

4) the term for which trust management is established;

5) surname (surnames), name (names), in the presence - middle name (middle names), the name and details of the document proving (proving) the identity (personality), place of employment and held held position (positions) of person (persons), representative (representatives) by the trustee to represent its interests in all organizations and the organizations for the questions connected with implementation of functions of the trustee shares of the financial organization, to make all necessary actions for the benefit of the trustee (in case of implementation of trust management of shares of the financial organization by National Bank).

4. The decision on organization of trust management of shares of the financial organization no later than 5 (five) working days from the date of its acceptance is published in mass media in the state and Russian languages and is brought to the attention by the direction of the written notice in the address:

1) financial organization;

2) owners of shares of the financial organization concerning whom trust management is established;

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