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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 24, 2012 No. 387

About approval of the Method of calculation of rate of compulsory, additional contributions and contingent obligations, procedure and payment due dates of compulsory, additional and extraordinary contributions, procedure for forming and accounting of contingent obligations by insurance companies, branches of the insurance nonresident organizations of the Republic of Kazakhstan - members of Fund of guaranteeing insurance payments

(as amended on 14-06-2021)

According to the Law of the Republic of Kazakhstan of June 3, 2003 "About Fund of guaranteeing insurance payments" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Method of calculation of rate of compulsory, additional contributions and contingent obligations, procedure and payment due dates of compulsory, additional and extraordinary contributions, procedure for forming and accounting of contingent obligations by insurance companies, branches of the insurance nonresident organizations of the Republic of Kazakhstan - members of Fund of guaranteeing insurance payments (further - the Technique).

2. Recognize invalid regulatory legal acts of the Republic of Kazakhstan according to appendix to this resolution.

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

Action of Item 3 of the Technique extends to the legal relationship which arose since January 1, 2012 from the contracts of participation signed according to Item 3 of article 12 of the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity".

4. To "Fund of Guaranteeing Insurance Payments" joint-stock company (further - Fund) to perform recalculation of the compulsory contributions under agreements of annuity insurance paid by the insurance companies which signed the agreement of participation with Fund since January 1, 2012 taking into account provisions of this Technique, and to credit excessively paid amounts on account of payment by the specified insurance companies of future fees.

Chairman of National Bank

G. Marchenko

 

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of December 24, 2012 No. 387

Method of calculation of rate of compulsory, additional contributions and contingent obligations, procedure and payment due dates of compulsory, additional and extraordinary contributions, procedure for forming and accounting of contingent obligations by insurance companies, branches of the insurance nonresident organizations of the Republic of Kazakhstan - members of Fund of guaranteeing insurance payments

The method of calculation of rate of compulsory, additional contributions and contingent obligations, procedure and payment due dates of compulsory, additional and extraordinary contributions, procedure for forming and accounting of contingent obligations by insurance companies, branches of the insurance nonresident organizations of the Republic of Kazakhstan - members of Fund of guaranteeing insurance payments (further - the Technique) are developed according to the Law of the Republic of Kazakhstan "About Fund of guaranteeing insurance payments" (further - the Law) and determine method of calculation of rate of compulsory, additional contributions, contingent obligations, procedure and payment due dates of compulsory, additional and extraordinary contributions, and also procedure for forming and accounting of contingent obligations by insurance companies, the branches of the insurance nonresident organizations of the Republic of Kazakhstan which signed the agreement of participation with Fund of guaranteeing insurance payments (further - the insurance participating organizations).

Chapter 1. Method of calculation of rate of compulsory contributions, procedure and terms of their payment

1. Rules of calculation of rates of compulsory contributions affirm the board of directors of Fund of guaranteeing insurance payments (further - Fund) and are subject to revision at least 1 (one) time in 3 (three) years.

Rules of calculation of rates of compulsory contributions contain procedure of payments of base rates and adjusting factors on each guaranteed type of insurance taking into account Items 5, of 6, of 7, of 8, 9 and 10 Techniques.

2. The insurance participating organizations within 30 (thirty) calendar days after completion of financial year provide in Fund information for the expired financial year on each guaranteed type of insurance and about the financial condition in the form approved by the solution of the board of directors of Fund.

3. The fund within 15 (fifteen) working days from the date of receipt from all insurance participating organizations of information, stipulated in Item 2 Techniques, calculates on the basis of rules of calculation of rates of compulsory contributions rate of compulsory contributions on each guaranteed type of insurance for each insurance participating organization the current financial year and sends to authorized body on regulation, control and supervision of the financial market and the financial organizations (further - authorized body) for review.

Rates of compulsory contributions affirm the solution of the board of directors of Fund the current financial year within 10 (ten) working days from the date of their calculation.

The authorized body approves rates of the compulsory contributions approved by the board of directors of Fund within 15 (fifteen) working days from the date of their obtaining or returns with notes in case of their availability.

In the presence of notes of authorized body the Fund within 5 (five) working days from the date of their obtaining performs recalculation of rates of compulsory contributions and sends to authorized body for repeated coordination.

After coordination by authorized body of rate of compulsory contributions are brought to the attention of each insurance participating organization by Fund individually in writing.

4. In case of obtaining from the insurance participating organization of information other than the Technique provided earlier according to Item 2, the Fund in need of current of 5 (five) working days from the date of receipt of information performs recalculation of rates of compulsory contributions and sends to authorized body the rates of compulsory contributions approved by the board of directors of Fund for repeated coordination.

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