of February 24, 2012 No. 83
About establishment of limit of share fraction (shares in the authorized capital) the parent organization of insurance group, the insurance (reinsurance) organization or insurance holding belonging to the affiliated organizations of the insurance (reinsurance) organization or insurance holding, the organizations in which the insurance (reinsurance) organization or insurance holding have considerable participation
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. Determine that the cumulative share fraction (share in the authorized capital) shall not exceed the parent organization of insurance group, the insurance (reinsurance) organization or insurance holding belonging to the affiliated organizations of the insurance (reinsurance) organization or insurance holding, the organizations in which the insurance (reinsurance) organization or insurance holding have considerable equity participation:
10 (ten) percent of the size of equity of insurance affiliated organization (reinsurance) organization or insurance holding, and also the organization in which the insurance (reinsurance) organization or insurance holding have considerable equity participation;
10 (ten) percent from placed (less exclusive and redeemed) shares (shares in the authorized capital) the parent organization of insurance group, the insurance (reinsurance) organization or insurance holding.
2. To the affiliated organizations of the insurance (reinsurance) organization, and also the organizations in which the insurance (reinsurance) organization or insurance holding have considerable equity participation, within six months after enforcement of this resolution to bring the activities into accord with requirements of this resolution.
3. This resolution becomes effective after ten calendar days after day of its first official publication.
Chairman of National Bank
G. Marchenko
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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