RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of July 26, 2013 No. 194

About modification and amendments in some regulatory legal acts of National Bank of the Republic of Kazakhstan concerning financial accounting of the single accumulation pension fund and the Voluntary accumulation pension funds

According to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan" and of February 28, 2007 "About financial accounting and the financial reporting" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed list of regulatory legal acts of the Republic of Kazakhstan to which changes and additions concerning financial accounting of the single accumulation pension fund and the Voluntary accumulation pension funds are made.

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

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of July 26, 2013, No. 194

The list of regulatory legal acts of the Republic of Kazakhstan to which changes and additions concerning financial accounting of the single accumulation pension fund and the Voluntary accumulation pension funds are made

1. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of November 30, 2007 No. 134 "About approval of the Instruction for conducting financial accounting of confidential transactions and custodial activities of the second level by banks" (registered in the Register of state registration of regulatory legal acts at No. 5089) the following changes:

in the Instruction for conducting financial accounting of confidential transactions and the custodial activities of the second level by banks approved by the specified resolution:

state Item 32 in the following edition:

"32. The money of clients accepted by bank custodian based on the custodial contract, and transaction with the money accepted according to the custodial agreement and also gained investment revenue (expense) is considered on the following balance sheet accounts:

2012 "Correspondent accounts of foreign Central Banks" - if the custodial agreement is signed with foreign Central Bank;

2013 "Correspondent accounts of other banks" - if the custodial agreement is signed with bank (except foreign Central Bank);

2202 "Not invested current account balances, opened by banks custodians to the Voluntary accumulation pension funds and the organizations exercising control of investment portfolio" - if the custodial agreement is signed with the Voluntary accumulation pension fund on pension assets or the organization exercising control of investment portfolio;

2203 "Current accounts of legal entities" - if the custodial agreement is signed with other organizations (except the Voluntary accumulation pension funds on pension assets, the organizations exercising control of investment portfolio and banks).

Financial accounting of other assets accepted by bank custodian based on the custodial agreement is performed on off-balance accounts of account group 7700 "The assets accepted on custodial storage, except for pension assets of the Voluntary accumulation pension funds" provided by the Standard chart of accounts of financial accounting.";

1) of Item 33 to state the subitem in the following edition:

"1) on amount of money:

state Item 34 in the following edition:

"34. In case of placement of the money accepted based on the custodial agreement, receipt of investment revenue (expense) and making of other financial instrument transactions, accepted based on the custodial agreement, in addition to the accounting entries provided by this Instruction accounting entries on the debit and (or) the credit of the balance sheet accounts 1051 "Correspondent Account in National Bank of the Republic of Kazakhstan", 1052 "Correspondent accounts in other banks" and to the credit and (or) the debit of the balance sheet accounts 2012 "Correspondent Accounts of Foreign Central Banks", 2013 "Correspondent accounts of other banks", 2202 "Not invested current account balances, opened by banks custodians to the Voluntary accumulation pension funds and the organizations exercising control of investment portfolio", 2203 "Current accounts of legal entities" respectively are performed".;

in Chapter 4:

to state heading of paragraph 1 in the following edition:

"Paragraph 1. Accounting of pension contributions, and also payments and transfers of pension savings in the single accumulation pension fund and other Voluntary accumulation pension funds";

71, of 72, 73 and 74 to state Items in the following edition:

"71. In case of receipt of pension contributions of investors on the bank investment account of the Voluntary accumulation pension fund the following accounting entry is performed:

72. When implementing transfers of pension savings in the single accumulation pension fund, the Voluntary accumulation pension funds and banks servicing receivers of retirement benefits from the bank account of retirement benefits of the Voluntary accumulation pension fund, according to the custodial agreement the following accounting entries are performed:

1) on transfer of the amount from the bank investment account of the Voluntary accumulation pension fund for the bank account of retirement benefits of the Voluntary accumulation pension fund:

2) on transfer of the amount into bank account, the servicing receiver of retirement benefits:

73. In case of return of the amounts which arrived on the bank investment account of the Voluntary accumulation pension fund and recognized as mistakenly enlisted the following accounting entry is performed:

74. In case of placement of the money accepted based on the custodial agreement, receipt of investment revenue (expense) and making of other transactions with pension assets in addition to the accounting entries provided by this Instruction accounting entries on the debit and (or) the credit of the balance sheet accounts 1051 "Correspondent Account in National Bank of the Republic of Kazakhstan", 1052 "Correspondent accounts in other banks", 2011 "Correspondent accounts of National Bank of the Republic of Kazakhstan", 2013 "Correspondent accounts of other banks" and to the credit and (or) the debit of the balance sheet account 2202 "Not Invested Current Account Balances, Opened by Banks Custodians to the Voluntary Accumulation Pension Funds and the Organizations Exercising Control of Investment Portfolio" respectively are performed".;

the paragraph one of Item 75 to state in the following edition:

"75. In case of placement of the pension assets of the Voluntary accumulation pension fund accepted based on the custodial agreement in securities the following accounting entries are performed:";

state Item 76 in the following edition:

"76. In case of transfer on the bank investment account of the Voluntary accumulation pension fund of the amount of the penalty fee added for untimely placement of pension assets the following accounting entry is performed:

the paragraph one of Item 78 to state in the following edition:

"78. When carrying out revaluation of cost of the securities estimated at fair value, acquired at the expense of the pension assets accepted based on the custodial agreement the following accounting entries are performed:";

the paragraph one of Item 81 to state in the following edition:

"81. On each reporting date the bank carries out the test for impairment of the securities estimated on depreciated cost according to requirements of international accounting standards and accounting policy, and performs the following accounting entries:";

state Item 83 in the following edition:

"83. In case of placement of pension assets of the Voluntary accumulation pension fund in deposits in banks and National Bank of the Republic of Kazakhstan on the deposit amount taking into account costs according to the transaction the following accounting entry is performed:

the paragraph one of Item 89 to state in the following edition:

"89. According to the custodial agreement signed between the Voluntary accumulation pension fund and bank custodian in the terms determined by accounting policy of bank custodian charge of the amounts of remuneration (income) for custodial servicing of the Voluntary accumulation pension fund, and also charge of commission amounts of expenses on money transfers and other expenses is made and the following accounting entry is performed:";

the paragraph one of Item 90 to state in the following edition:

"90. In case of the fee of professional participants of the security market and other incurred expenses which are subject to compensation by the Voluntary accumulation pension fund according to the custodial agreement the following accounting entry is performed:";

91, 92 and 93 to state Items in the following edition:

"91. In case of compensation and payment by the Voluntary accumulation pension fund of the expenses made by bank custodian, which are subject to compensation according to the custodial agreement, and also payment of the added amounts of commission fee of bank custodian, the following accounting entry is performed:

92. In case of delay the Voluntary accumulation pension fund of payments on the added remuneration performs the following accounting entries:

on the amount added, but outstanding remuneration for the services provided to the Voluntary accumulation pension fund based on the custodial agreement: 

on the penalty amount (penalty, penalty fee):

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