LETTER OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of September 25, 2013 No. 29307/2495

The National Bank of the Republic of Kazakhstan sends for data and use in work the letter of the Ministry of Finance of the Republic of Kazakhstan (further - MFRK) to No. KND-2YuL-B-729-13761 of 17.09.2013 concerning submission of data according to the bank account to the receiver.

According to Item 1 of article 9 of the Law of the Republic of Kazakhstan of January 21, 1997 "About bankruptcy" for goal achievement of implementation of the rehabilitation procedure and bankruptcy (liquidating) proceedings for their carrying out all bodies of the poor debtor are discharged of management by it, both powers on property management and are transferred by cases of the debtor rehabilitation or to the receiver (liquidator).

Rehabilitation and competitive managing directors (liquidator) act as the single authorized body of management of the debtor.

According to Item 1 of article 50 of the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks), the bank secrecy includes data on availability, owners and bank account numbers of depositors, clients and correspondents of bank, on remaining balance and movement of money on these accounts and accounts of the bank, about transactions of bank (except for general terms of carrying out banking activities), and also the data on availability, owners, nature and property value of clients which are stored in safe boxes, cases and premises of bank.

According to the Law of the Republic of Kazakhstan of July 5, 2012 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning the organization of activities of National Bank of the Republic of Kazakhstan, regulation of the financial market and the financial organizations", enacted since August 4, 2012, the part two of item 4 of article 50 of the Law on banks is added with the subitem 11) according to which representation to authorized body in the field of bankruptcy and to the receiver of data according to the bank account of person concerning which there is judgment which took legal effect about recognition by the bankrupt is not disclosure of bank secrecy.

At the same time, in view of the questions which are available for banks concerning submission of the data relating to bank secrecy, the receiver in the presence of the copy of the relevant order of authorized body on its appointment and the copy of the judgment about recognition of person by the bankrupt, the National Bank sent inquiry to the relevant state bodies.

According to the letter of MF RK, from Item 9 of Rules of appointment and discharge of rehabilitation and competitive managing directors, the administrator of external observation (No. approved by the order of the Minister of Finance of the Republic of Kazakhstan of December 15, 2011 637) follows that appointment of the receiver is made by the order of territorial subdivision of Committee on work with poor debtors of the Ministry within five working days after entry into force of the judgment about recognition of the debtor by the bankrupt. The order on appointment of the receiver in day of acceptance is placed on Internet resource of the Ministry. From the moment of placement on Internet resource of the Ministry of the order on appointment of person as the receiver, person is considered started accomplishment of the powers. The order is issued in duplicate, one of which in day of acceptance goes to the receiver. The second copy of the order is stored in territorial subdivision of Committee.

In this connection, data according to the bank account of person concerning which there is judgment which took legal effect about recognition by the bankrupt can be provided to the receiver in the presence of the copy of the judgment about recognition by the bankrupt and the copy of the relevant order of authorized body on its appointment.

We ask to be guided by the above-stated explanations further in case of submission of the data relating to bank secrecy, receivers.

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