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The document ceased to be valid since  May 13, 2018 according to Item 2 of the Resolution of Board of National Bank of the Republic of Kazakhstan of March 27, 2018 No. 61

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of April 23, 2014 No. 71

About approval of Rules of activities of the affiliated organization acquiring doubtful and bad assets of parent bank

(as amended of the Resolution of Board of National Bank of the Republic of Kazakhstan of 27.05.2015 No. 93)

According to the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of activities of the affiliated organization acquiring doubtful and bad assets of parent bank.

2. Recognize invalid the following regulatory legal acts of the Republic of Kazakhstan:

2) Item 9 of the List of regulatory legal acts of the Republic of Kazakhstan concerning banking regulation to which changes and additions are made, the Board of National Bank of the Republic of Kazakhstan approved by the resolution of February 25, 2013 No. 74 "About modification and amendments in some regulatory legal acts concerning banking regulation" (registered in the Register of state registration of regulatory legal acts at No. 8436, No. 85 published on June 12, 2013 in the Yuridicheskaya Gazeta newspaper (2460)).

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

Chairman of National Bank

K. Kelimbetov

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of April 23, 2014 No. 71

Rules of activities of the affiliated organization acquiring doubtful and bad assets of parent bank

These rules of activities of the affiliated organization acquiring doubtful and bad assets of parent bank (further - Rules), are developed according to the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law) and establish procedure for activities of the affiliated organization acquiring doubtful and bad assets of parent bank, term during which the affiliated organization manages the acquired doubtful and bad assets, and also requirements to the acquired (acquired) it doubtful and bad assets (further - assets).

1. For the purposes of Rules are understood as doubtful and bad assets:

1) requirements to all physical persons and legal entities, including banks, and also contingent obligations, the size of reserves on which is created at the level of 5 (five) and more percent from the amount of outstanding overdue debt;

2) property, including real estate and (or) the property right on incomplete construction objects, carried over parent bank as a result of realization of the rights of the pawnbroker by it or as compensation on doubtful and hopeless rights to claim.

2. Activities of the affiliated organization acquiring doubtful and bad assets of parent bank are not connected with implementation of other functions and execution of other obligations, except management of doubtful and bad assets, including their acquisition, realization (sale), restructuring and (or) securitization.

3. The affiliated organization acquiring doubtful and bad assets of parent bank performs the following types of activity:

1) acquisition of doubtful and hopeless rights to claim of parent bank;

2) acquisition of personal and real estate and (or) the property right to the objects of construction in progress which carried over parent bank as a result of the address of collection on pledged property on the acquired doubtful and hopeless the rights to claim;

3) share acquisition and (or) share in the authorized capital of legal entities in cases of their acceptance as pledge (compensation or providing) on the acquired doubtful and hopeless the rights to claim or transition to property of parent bank as a result of the address of collection on pledge;

4) leasing of the property which passed into its property as a result of the address of claim to property, acting as pledge, other providing or received in the form of compensation on the doubtful and hopeless the rights to claim acquired at parent bank, and also the property specified in the subitem 2) of this Item or use of other form of paid temporary use by such property;

5) acquisition of doubtful and bad assets, including by the translation of debt of the borrower (debtor) according to the procedure, established by the civil legislation;

6) the acquisition of personal estate which carried over parent bank as a result of realization of the rights of the pawnbroker by it or as compensation on doubtful and hopeless rights to claim;

7) creation, including share acquisition (share in the authorized capital) legal entities, according to the procedure, established by the civil legislation, and also realization and management of such shares and (or) shares in the authorized capital of legal entities;

8) leasing of own property the, and also the property acquired or received as compensation as a result of implementation of actions for improvement of quality of doubtful and bad assets or transfer to financial leasing, trust management or other form of temporary use of property;

9) realization of own property the, and also the property acquired or received as compensation as a result of implementation of actions for improvement of quality of doubtful and bad assets;

10) realization (alienation) of doubtful and bad assets by the conclusion of the transactions which are not forbidden by the civil legislation;

11) issue of loan by the civil legislation within implementation of actions, doubtful and bad assets specified in the actions plan on improvement of quality (further - the actions plan), stipulated in Item the 5th article 11-2 of the Law;

12) transfer of doubtful and bad assets to financial leasing, lease, trust management or other form of paid temporary use of property;

13) carrying out transactions on securitization of the doubtful and bad assets provided by the Law of the Republic of Kazakhstan of February 20, 2006 "About project financing and securitization";

14) implementation of the activities directed to improvement of quality of doubtful and bad assets, including acquisition at the third parties of the parcels of land and (or) construction in progress, services of the project, contract and other organizations connected with construction and completion of construction incomplete construction of facilities and (or) commissioning incomplete construction of facilities on doubtful and bad assets in the form of the parcels of land and (or) incomplete construction of facilities;

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