Document from CIS Legislation database © 2003-2019 SojuzPravoInform LLC

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

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

Effectively work with search system

Database include more 38000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.