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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of July 16, 2014 No. 147

About approval of Rules of appointment and powers of temporary administration (the temporary administrator) of bank, insurance (reinsurance) organization

(as amended on 16-07-2021)

According to Item 2 of article 48-1 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan", Item 7 of article 56 of the Law of the Republic of Kazakhstan "About insurance activity" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of appointment and power of temporary administration (the temporary administrator) of bank, the insurance (reinsurance) organization.

2. Recognize invalid regulatory legal acts of the Republic of Kazakhstan according to appendix to this resolution.

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

Chairman of National Bank

K. Kelimbetov

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of July 16, 2014 No. 147

Rules of appointment and power of temporary administration (temporary administrator) of bank, insurance (reinsurance) organization

Chapter 1. General provisions

1. Rules of appointment and power of temporary administration (the temporary administrator) of bank, the insurance (reinsurance) organization (further - Rules) determine procedure for appointment as authorized body by regulation, control and supervision of the financial market and the financial organizations (further - authorized body) temporary administration (the temporary administrator) of bank, the insurance (reinsurance) organization (further - the organization) appointed in connection with deprivation of the license for carrying out banking and other activities on the right of implementation of insurance (reinsurance) activity (further - the license), operating procedure of the organization and power of temporary administration of the organization.

1-1. The basic concepts used in Rules:

1) temporary administration (the temporary administrator) - the body appointed by authorized body for ensuring safety of property and implementation of actions for ensuring management of the organization (further - temporary administration);

2) the head of temporary administration - person designated by authorized body from among his workers or persons who are not employees of authorized body;

3) the member of temporary administration - person designated by authorized body from among his workers or persons who are not employees of authorized body;

4) persons who are not employees of authorized body - employees of the organization performing obligatory guaranteeing deposits and Fund of guaranteeing insurance payments.

Chapter 2. Procedure for appointment and structure of temporary administration

2. The temporary administration is appointed by the decision of authorized body.

The temporary administration is appointed to the period from the date of deprivation of the organization of the license and before appointment of liquidation commission as authorized body.

3. In the decision of authorized body on appointment of temporary administration it is specified:

1) full and abbreviated name of the organization;

2) date and number of the decision of authorized body on deprivation of the license of the organization;

3) effective period of temporary administration;

4) surname, name, in the presence - middle name of the head and members of temporary administration, with indication of their positions;

5) orders of authorized body about accomplishment of the tasks and functions assigned to temporary administration.

4. The structure of temporary administration is determined by authorized body depending on availability at the organization of branches and representations, and also from nature and amount of the forthcoming work.

The head and members of temporary administration are appointed from their consent, except as specified appointments in structure of temporary administration of the employee of authorized body.

The persons which are part of temporary administration who are employees of authorized body, the organization performing obligatory guaranteeing deposits of Fund of guaranteeing insurance payments are exempted from accomplishment of job responsibilities on principle place of employment for the entire period of activities in temporary administration.

For the specified period behind them the salary and other payments established on principle place of employment remains.

The head of temporary administration designates person having the higher economic or legal education.

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