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The document ceased to be valid since  May 22, 2016 according to Item 2 of the Resolution of Board of National Bank of the Republic of Kazakhstan of 29.02.2016 No. 61

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of August 24, 2012 No. 241

About approval of Rules of realization of the priority right of the state to acquisition of the affined gold for replenishment of assets in precious metals

(as amended of the Resolution of Board of National Bank of the Republic of Kazakhstan of 03.02.2014 No. 12)

According to the Law of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan", for the purpose of determination of procedure for realization of the priority right of the state to acquisition of the affined gold for replenishment of assets in precious metals the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of realization of the priority right of the state to acquisition of the affined gold for replenishment of assets in precious metals.

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

Chairman of National Bank

G. Marchenko

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of August 24, 2012 No. 241

Rules of realization of the priority right of the state to acquisition of the affined gold for replenishment of assets in precious metals

1. General provisions

1. These rules of realization of the priority right of the state to acquisition of the affined gold in precious metals (further - Rules) are developed for replenishment of assets according to the Law of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan" and determine procedure for realization by National Bank of the Republic of Kazakhstan (further - National Bank) the priority right of the state to acquisition of the affined gold for replenishment of assets in precious metals (further - the priority right).

2. Assets in precious metals for which replenishment the affined gold is acquired are component of gold and exchange assets of National Bank.

2. The basic concepts used in Rules

3. In Rules the following concepts are used:

1) realization of the priority right - purchase by National Bank of the affined gold directly at clients;

2) bid-ask (bid-ask) spread - difference between the price of acquisition and international sale;

3) clients are subjects of extraction and production who in case of realization of the affined gold in priority procedure offer it to National Bank;

4) acquisition limit - the greatest possible purchasing amount National Bank of the affined gold for certain period within realization of the priority right;

5) trade tikt (transaction certificate) - the document signed by the parties of the transaction containing all essential conditions and parameters of delivery of specific lot of the affined gold according to the signed agreement on general terms of purchase and sale of the affined gold for replenishment of assets in precious metals;

6) the affined gold - the precious metal which passed stage of cleaning and presented in the form:

ingots of production of the State Parties of the Customs union conforming to the established requirements in the State Parties of the Customs union or to the international standards of quality accepted by the London association of the market of precious metals (London bullion market association) and designated in documents of this association as the London High-quality Delivery standard ("London good delivery");

the ingots of foreign production made, kleymenny and certified according to the legislation of country of source or international standards of quality accepted by the London association of the market of precious metals (London bullion market association) and designated in documents of this association as the London High-quality Delivery standard ("London good delivery");

measuring ingots, plates, granules, powder and other forms, with content of chemically pure gold at least 995 parts on 1000, except for the products specified in appendix No. 2 to the Regulations on procedure for import to customs area of the Customs union and export from customs area of the Customs union of the precious metals, gemstones and primary goods containing precious metals, to No. 134 approved by the Decision of Board of the Eurasian economic commission of August 16, 2012 "About regulatory legal acts in the field of non-tariff regulation";

7) testing of the affined gold - complex of the works which are carried out for the purpose of establishment of quantity and quality characteristics of the affined gold.

3. Procedure for realization of the priority right

4. Clients represent to National Bank of graphics of the production forecast and sale of the affined gold on the first half of the year of next year - till November 1 of the current year, on the second half of the year of the current year - till May 1 of the current year.

5. The chairman of National Bank, based on the production forecast and sales of the affined gold, condition of the money market, indicators of monetary policy and environment of the international financial markets, approves limit of acquisition of right within realization of the priority right to the forthcoming half-year or makes the decision on not realization of the priority right to the forthcoming period (from month to one half-year).

6. Within the approved acquisition limit the National Bank determines amount of the affined gold which will be acquired forthcoming half-year at the specific client who provided the schedule of the production forecast and sale of the affined gold. Amounts of acquisition are brought to the attention of clients on the first half of the year of next year - till December 1 of the current year, on the second half of the year of the current year - till June 1 of the current year.

7. If the expected production volume and sales of the affined gold will exceed the production volume and sales of the affined gold brought to National Bank according to item 4 of Rules, clients in addition represent the changed schedules of the production forecast and sale of the affined gold to National Bank.

Within 10 (ten) working days from the date of receipt of the changed schedule of the production forecast and sale of the affined gold the National Bank brings to the client respectively the changed amount of acquisition of the affined gold or reports about leaving without changes of the amount of acquisition of the affined gold which is earlier brought to the client.

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