RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of April 23, 2014 No. 70

About approval of Rules of recognition of the bargains concluded in the organized and unorganized security markets as made for the purpose of manipulation, forming and works of expert stock exchange committee, and also its quantitative structure

According to the Law of the Republic of Kazakhstan of July 2, 2003 "About the security market" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of recognition of the bargains concluded in the organized and unorganized security markets as made for the purpose of manipulation, forming and work of expert stock exchange committee, and also its quantitative structure according to appendix to this resolution.

2. Recognize invalid 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 November 28, 2008 as No. 196 "About approval of Rules of recognition of the bargains concluded in the organized market of securities as made for the purpose of manipulation, forming and work of stock exchange committee concerning recognition of the security transactions made for the purpose of manipulation, and also its quantitative structure" (registered in the Register of state registration of regulatory legal acts at No. 5476, published on February 18, 2009 in the Yuridicheskaya Gazeta newspaper from No. 25 (1622).

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

Appendix

to the Resolution of Board of National Bank of the Republic of Kazakhstan of April 23, 2014 No. 70

Rules of recognition of the bargains concluded in the organized and unorganized security markets as made for the purpose of manipulation, forming and works of expert stock exchange committee, and also its quantitative structure

These rules of recognition of the bargains concluded in the organized and unorganized security markets as made for the purpose of manipulation, forming and works of expert stock exchange committee, and also its quantitative structure (further - Rules) are developed according to the Law of the Republic of Kazakhstan of July 2, 2003 "About the security market" (further - the Law on the security market) and establish procedure and conditions of recognition of the bargains concluded in the organized and unorganized security markets of the Republic of Kazakhstan as made for the purpose of manipulation and also procedure for forming and work of expert stock exchange committee, and also its quantitative structure.

1. The transaction made at the price, significantly different from the prices of these securities which developed in the organized market of securities to the conclusion of such transaction the transaction is recognized if:

1) in case of the conclusion of the transaction with shares in the organized market of securities the variation of the price of this transaction with shares from the weighted market price of these shares calculated according to Item 3 of Rules constitutes thirty and more percent;

2) in case of the conclusion of the transaction with bonds (including with the government issued securities) in the organized market of securities the variation of profitability of these bonds to repayment according to the price of this transaction from the weighted market average yield of these bonds to repayment calculated according to item 4 of Rules constitutes three and more than percent point.

2. The following transactions of purchase and sale of securities made within five working days which execution did not lead to essential change of quantity of such securities which are at the parties of these transactions are not committed for the purpose of manipulation:

1) transactions of opening and closing of "repo" which belong to the same transaction of the "repo" performed in the sector of trade system of stock exchange intended for such transactions;

2) two transactions of the same amount with the same securities, the second of which is concluded for the purpose of correction of the technical mistake made in case of the conclusion of the first of these transactions in the organized market;

3) the security transactions concluded in trade system of stock exchange by method of open tenderings, corresponding to the following conditions or one of the following conditions:

during the last thirty working days preceding date of the conclusion of the transaction, but at least within ten working days from this period with securities of this name at least twenty total bargains by amount at least fifty million tenges which parties were at least ten members of stock exchange were concluded;

at the time of the conclusion of the transaction these securities were included in the representative list of the indicator (index) of stock exchange which is calculated according to internal documents of stock exchange at the prices of the most liquid shares allowed to the address on this stock exchange.

3. The weighted average market share price is calculated as the total relation of amount of bargains with shares (in money) which are concluded at the biddings, the open tenderings held by stock exchange by method during the last five expired working days, to the total size of such transactions (in securities) (taking into account the feature established by parts two and third this Item).

If the number of the bargains with shares concluded during the specified period makes less than five, then the weighted market price of these shares is calculated as the total relation of amount of the last five bargains with these shares (in money) which are concluded at the biddings, the open tenderings held by stock exchange by methods during the last sixty expired calendar days, to the total size of such last five transactions (in securities).

If the number of the bargains with shares concluded during the last sixty expired calendar days makes less than five, then the weighted market price of these shares is not calculated.

4. The weighted average market bond yield to repayment is calculated by formula:

Y - the weighted average market bond yield to repayment, as a percentage annual;

Yi - bond yield to repayment according to the price of i-that transaction with these bonds, as a percentage annual;

Vi - amount of i-that transaction with bonds, in money;

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