ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of December 23, 2014 No. 723

About the minimum size of the authorized capital of the accumulation pension funds

For the purpose of strengthening of financial stability, safety, reliability of the accumulation pension funds and increase in trust of society to them, according to article 10 of the Law of the Kyrgyz Republic "About the accumulation pension funds in the Kyrgyz Republic" the Government of the Kyrgyz Republic decides:

1. Establish the minimum size of the authorized capital for:

- the accumulation pension fund performing activities for non-state pension provision:

since June 20, 2014 - at least 5000000 (five million) som;

since January 1, 2016 - at least 10000000 (ten million) som;

since January 1, 2017 - at least 20000000 (twenty million) som;

- the accumulation pension fund performing activities as the participant of system for compulsory accumulative pension insurance:

since June 20, 2014 - at least 5000000 (five million) som;

since January 1, 2016 - at least 20000000 (twenty million) som;

since January 1, 2017 - at least 40000000 (forty million) som.

2. This resolution becomes effective since June 20, 2014.

3. Publish this resolution in mass media.

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