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The document ceased to be valid since  April 18, 2014 according to Item 2 of the Resolution of Board of National Bank of the Republic of Kazakhstan of February 26, 2014 No. 24

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC KAZAKH

of July 26, 2013 No. 186

About approval of Rules of implementation of accounting and assessment of pension assets

According to the Law of the Republic of Kazakhstan of June 21, 2013 "About provision of pensions in the Republic of Kazakhstan" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of implementation of accounting and assessment of pension assets (further - Rules).

2. To "Single Accumulation Pension Fund" joint-stock company:

To accept 1) in investment portfolio the financial instruments which are part of pension assets of the accumulation pension funds on current value on which these financial instruments were considered in investment portfolios the accumulation pension funds for date of their acceptance by the single accumulation pension fund and which is created according to the Rules of assessment of the financial instruments which are in investment portfolios of the accumulation pension funds, approved by the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of March 26, 2005 No. 109 (registered in the Register of state registration of regulatory legal acts at No. 3603);

2) to perform accounting and assessment of pension assets according to Rules from the date of, the beginning of transfer of pension assets and agreement obligations following behind day about provision of pensions of the first accumulation pension fund according to the Schedule of reception-transmission of pension assets and obligations of the accumulation pension funds according to pension provision agreements.

3. This resolution becomes effective since September 1, 2013 and is subject to official publication.

Chairman of National Bank

G. Marchenko

Approved by the resolution of Board of National Bank of the Republic of Kazakhstan of July 26, 2013 No. 186

Rules of implementation of accounting and assessment of pension assets

1. Rules of implementation of accounting and assessment of pension assets (further - Rules) are developed according to the Law of the Republic of Kazakhstan of June 21, 2013 "About provision of pensions in the Republic of Kazakhstan" (further - the Law) and determine accounting treatment for pension assets and assessment of the financial instruments which are in investment portfolio of the single accumulation pension fund and (or) investment portfolios of the Voluntary accumulation pension funds.

2. For the purposes of Rules the following concepts are used:

1) book value of shares - the share value determined based on the financial reporting of the issuer of these shares according to the stock exchange rules approved with authorized body;

2) nominal value of the debt financial instrument - the monetary value of cost of the debt financial instrument determined in case of its release on which the remuneration expressed as a percentage, and also the amount which is subject to payment to the holder of the debt financial instrument in case of its repayment is charged;

3) the accumulation pension fund - the legal entity performing activities for attraction of pension contributions and implementation of retirement benefits whose license is terminated according to item 4 of article 73 of the Law;

4) the managing director of pension assets - National Bank of the Republic of Kazakhstan;

5) the resident managing director of the Republic of Kazakhstan - concerning pension assets of the single accumulation pension fund - legal resident person of the Republic of Kazakhstan, National Bank of the Republic of Kazakhstan it is entrusted to them to make the actions necessary for management of pension assets according to the contract for investment asset management, concerning pension assets of the Voluntary accumulation pension fund - the Voluntary accumulation pension fund or other resident organization of the Republic of Kazakhstan having the license of authorized body for management of investment portfolio, operating at the request of the Voluntary accumulation pension fund;

6) committee on assessment of financial instruments - collegiate organ of the managing director of pension assets which structure and procedure for functioning is regulated by internal documents of the managing director of pension assets;

7) current value of the financial instrument - the cost of the financial instrument reflected in financial accounting;

8) fair value of the financial instrument - the cost determined according to Items 4, of 5, of 6, of 7, of 8, of 9, of 10, of 11, of 12, of 13, of 14, of 15, of 16, of 17, of 18 Rules;

9) the counterpartner - the legal entity having rights to conclude bargains with financial instruments according to the legislation of the Republic of Kazakhstan or foreign state;

10) structural notes - the financial instruments issued by nonresident issuers of the Republic of Kazakhstan whose conditions of release provide dependence of payments of the amounts of principal debt and (or) remuneration on these financial instruments from achievement of the indicators set in the conditions of their release;

11) illiquid debt securities - debt securities, cost (profitability) of which it cannot be calculated proceeding from criteria of cost determination of the debt securities established by technique of the securities valuation approved by the board of directors of the stock exchange and approved with authorized body;

12) authorized body - Committee on control and supervision of the financial market and financial organizations of National Bank of the Republic of Kazakhstan.

3. The single accumulation pension fund and (or) the Voluntary accumulation pension funds perform accounting of pension assets according to the Accounting standard "Accounting and disclosure of information on transactions on the pension assets" approved by the resolution of Board of National Bank of the Republic of Kazakhstan of July 26, 2013 No. 195 (registered in the Register of state registration of regulatory legal acts at No. ____).

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