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The document ceased to be valid since  March 2, 2016 according to Item 2 of the Order of the Government of the Republic of Kazakhstan of February 2, 2016 No. 44

ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of August 1, 2012 No. 1012

About approval of conditions and mechanisms of crediting of subjects of industrial and innovative activities through financial institutions

(as amended on 20-12-2013)

According to Item 3 of article 16 of the Law of the Republic of Kazakhstan of January 9, 2012 "About the state support of industrial and innovative activities" the Government of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed conditions and mechanisms of crediting of subjects of industrial and innovative activities through financial institutions.

2. This resolution becomes effective from the date of the first official publication.

Prime Minister of the Republic of Kazakhstan

K. Masimov

Approved by the Order of the Government of the Republic of Kazakhstan of August 1, 2012 No. 1012

Conditions and mechanisms of crediting of subjects of industrial and innovative activities through financial institutions

1. General provisions

1. These conditions and mechanisms of crediting of subjects of industrial and innovative activities through financial institutions (further - conditions and mechanisms) are developed according to Item 3 of article 16 of the Law of the Republic of Kazakhstan of January 9, 2012 "About the state support of industrial and innovative activities".

2. Basic concepts and terms:

1) the general agreement - the agreement between the financial agent and financial institution establishing conditions and procedure for their interaction on the credit program of subjects of industrial and innovative activities;

2) the industrial and innovative project - complex of the actions directed to transfer of technologies, creation new or enhancement of the productions, technologies, goods, works and services realized during certain term of time;

3) subjects of industrial and innovative activities - the physical and (or) legal entities realizing industrial and innovative projects in priority sectors of economy;

4) crediting - the form of target financing of subjects of industrial and innovative activities which is expressed in provision of money on the basis of the paid nature, urgency, recoverability on the security of property of the borrower;

5) the credit - the money which entered from the financial agent financial institution on the terms of the paid nature, urgency and recoverability and intended for crediting of subjects of industrial and innovative activities;

6) pledge - form of ensuring obligation fulfillment of the borrower under the agreement of crediting in the form of personal or real estate, intellectual property items on which the creditor collection, in case of violation by the borrower of terms of the contract of bank loan addresses;

7) the commission - the special working body of the financial agent authorized for consideration of materials on crediting and decision making about crediting of the applicant;

8) the financial agent - the legal entity determined by the Government of the Republic of Kazakhstan for realization of crediting of subjects of industrial and innovative activities through financial institutions;

9) financial institution - the legal entity performing business activity on provision of banking activities according to the legislation of the Republic of Kazakhstan;

10) the borrower - the subject of industrial and innovative activities who signed with financial institution the agreement of bank loan which obtained loan (credit) and assuming liabilities on return of the received money and complete payment of the obtained loan (credit), including remuneration and other payments on the credit;

11) the applicant - the subject of industrial and innovative activities who submitted to financial institution the application for crediting;

12) technology transfer - process of implementation of new or advanced technologies by subjects of industrial and innovative activities, the property right, ownership and (or) use of which are received by the methods which are not forbidden by the laws of the Republic of Kazakhstan.

3. Crediting of subjects of industrial and innovative activities is performed for creation of new industrial and innovative projects, and also the industrial and innovative projects directed to upgrade (modernization) and expansion of the operating productions on condition of their participation by provision of own personal or real estate, including money.

4. The credit program is performed by placement by the financial agent of money at financial institutions on the conditions determined by authorized body for the subsequent financing of industrial and innovative activities by financial institution of subjects.

2. Conditions and mechanisms of crediting of subjects of industrial and innovative activities

5. The financial agent brings to the general attention the list of the financial institutions performing crediting of subjects of industrial and innovative activities by means of placement of information in mass media.

6. For participation in the credit program of subjects of industrial and innovative activities the financial institution files to the financial agent the corresponding petition and documents confirming compliance to the requirements of the financial agent determined by the commission.

7. The financial agent considers documents of financial institution for participation in the credit program of subjects of industrial and innovative activities no more than 10 (ten) working days in time and makes the decision on approval of the conclusion of the general agreement or on its refusal to financial institution.

8. The general agreement shall contain the following essential conditions:

1) subject and effective period of the general agreement;

2) the amount of the general agreement (the amount of investment of funds by the financial agent at financial institution for program implementation of crediting of subjects of industrial and innovative activities), terms and procedure for its placement;

3) credit program sales terms;

4) rights and obligations of the Parties;

5) conditions and order of interaction of the parties, including questions of transfer of risks, works with the problem credits, post-crisis servicing, recognition of default of the borrower, debt restructuring and provision of delay to the applicant, collection and return of debt, in case of recognition of default of the borrower;

6) bases and procedure for cancellation, prolongation of action of the general agreement;

7) responsibility of the parties.

9. The financial agent records the signed general agreements.

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