of April 9, 2015 No. 9-1/320
About approval of Rules of subsidizing of interest rate for credit and leasing obligations within the direction on financial improvement of subjects of agro-industrial complex
According to Item 2 of article 11 of the Law of the Republic of Kazakhstan of July 8, 2005 "About state regulation of development of agro-industrial complex and the rural territories", PRIKAZYVAYU:
2. To provide to department of investment policy and financial instruments of the Ministry of Agriculture of the Republic of Kazakhstan in the procedure established by the legislation:
1) state registration of this order in the Ministry of Justice of the Republic of Kazakhstan;
2) within ten calendar days after state registration of this order in the Ministry of Justice of the Republic of Kazakhstan the direction it the copy on official publication in periodic printing editions and in information system of law of "Adilet";
3) placement of this order on Internet resource of the Ministry of Agriculture of the Republic of Kazakhstan.
3. To impose control of execution of this order on the supervising Vice-Minister of Agriculture of the Republic of Kazakhstan.
It is approved
Acting minister of finance of the Republic of Kazakhstan
April 15, 2015
It is approved
Acting minister of national economy of the Republic of Kazakhstan
April 14, 2015
Approved by the Order of the Minister of Agriculture of the Republic of Kazakhstan on April 9, 2015 No. 9-1/320
1. These rules of subsidizing of interest rate for credit and leasing obligations within the direction on financial improvement of subjects of agro-industrial complex (further - Rules) are developed according to the Program for development of agro-industrial complex in the Republic of Kazakhstan for 2013 - 2020 "Agrobusiness - 2020", the Republic of Kazakhstan approved by the order of the Government of February 18, 2013 No. 151, and determine procedure for subsidizing of interest rate for credit and leasing obligations within the direction by financial improvement of subjects of agro-industrial complex (further - the AIC).
1) administrator - Ministry of Agriculture of the Republic of Kazakhstan.
For the purpose of optimization of the taxation the administrator is recognized the tax agent to whom the obligation on calculation, deduction and transfer of the taxes withheld at payment source is assigned;
2) credit and leasing obligations - obligations of the borrower concerning which application of measures of financial improvement within these rules, arisen before financial institutions in connection with receipt of credit/leasing on the purpose of replenishment turnover, acquisition of fixed assets and construction is possible, and also on refinancing of the debt which arose in connection with obtaining credit/leasing on the above-stated purposes;
3) creditor obligations - the obligations of the borrower which arose before other business entities in connection with replenishment turnover, acquisition of fixed assets, obtaining in leasing of the agricultural and special machinery, processing equipment, and also refinancing of obligations to other creditors;
4) creditor committee - the commission created of representatives of financial institutes creditors with possibility of inclusion of the representative of the relevant industry association for each certain borrower;
5) restructuring of credit and leasing obligations - increase in terms of return, change of procedure and priority of repayment of payments, change of rate of remuneration, and also provision of grace period on repayment available for borrowers to credit and leasing obligations;
6) refinancing of credit/creditor and leasing obligations provision to borrowers of new purpose-oriented loans, or replacement of earlier loans by the conclusion of supplementary agreements with long-term terms of return, low interest rate of remuneration and grace period on repayment of the available debts;
7) the borrower - the subject of the AIC who is performing activities in the sphere of agro-industrial complex, including conversion and realization of agricultural products and having credit/creditor and leasing obligations;
8) the decision of the Commission on financial improvement - the decision on approval/disapproval of financial improvement concerning the borrower;
9) means of funding the raised borrowed funds of the financial agent provided to financial institutions for the subsequent restructuring / refinancing of credit and leasing obligations of borrowers;
10) financial improvement - restructuring, refinancing of credit/creditor and leasing obligations of the borrowers used on replenishment turnover, acquisition of fixed assets and construction, obtaining in leasing of processing equipment, agricultural machinery, and also refinancing of the debt which arose in connection with receipt of credit/leasing on the above-stated purposes with support from the state in the form of subsidizing of rate of remuneration;
11) financial institutions - the banks of the second level, the organizations performing separate types of banking activities, credit partnerships in the sphere the agrarian and industrial complex, microfinancial/microcredit institutions, the leasing companies performing activities in the AIC sphere;
12) the financial agent - the national managing holding performing activities in the sphere of agro-industrial complex.
13) operator - Kazagromarketing joint-stock company;
14) subsidizing of interest rate of remuneration the form of the state support of subjects of the AIC used for partial expense recovery, paid by the borrower to financial institution as remuneration according to credit and/or leasing obligations;
15) processing equipment - the equipment on production and conversion of agricultural products consisting of the equipment of direct appointment and auxiliary without which participation the complete production cycle cannot be provided.
3. Credit/creditor and leasing obligations of borrowers on replenishment turnover, construction and acquisition of fixed assets, and also obtaining in leasing of processing equipment, agricultural machinery are subject to restructuring and refinancing.
4. Subsidizing of interest rate of remuneration can be performed according to currency credit/creditor and leasing obligations of the borrower, and also according to obligations with binding to foreign currency. At the same time the amounts of subsidies it is paid to tenge on the rate established by National Bank of the Republic of Kazakhstan for date of transfer of the amounts of subsidies. In case of positive exchange difference it is set off on account of future subsidies, and in case of negative exchange difference it is paid by the borrower.
Financial improvement is performed according to credit/creditor and leasing obligations, arisen till January 1, 2014.
5. Financial institutions do not charge from borrowers the fee, the charges and (or) other payments connected with participation in financial improvement, except for the commissions, charges and/or other payments connected with the change of conditions of crediting/provision of leasing initiated by borrowers.
6. Agreements according to credit/leasing obligations of borrowers according to which support in type of subsidizing of interest rate of remuneration for other state and/or budget programs, and also according to credit/leasing obligations of the borrowers financed at the expense of means of the republican budget and means of National fund of the Republic of Kazakhstan is given are not subject to subsidizing of interest rate of remuneration.
7. Financial improvement of credit/leasing obligations of the borrowers financed at the expense of means of the republican budget and means of National fund of the Republic of Kazakhstan is performed on condition of their replacement with financial resources from extrabudgetary funds by replacement of source of financing.
8. Borrowers whose activities are in stage of change of form of business, liquidation or bankruptcy, except as specified restructurings of financial debt of borrowers, and also the borrowers who are in the accelerated rehabilitation procedure or the rehabilitation procedure are not allowed to procedures of financial improvement. At the same time borrowers on whom the decision of the commission on financial improvement on the subsidizing termination is made repeatedly do not participate in the procedure of financial improvement.
Charge of means of subsidizing of interest rates of remuneration for credit and leasing obligations begins from the date of the conclusion of the agreement on restructuring/refinancing of obligations signed by the borrower and financial institution, payment of means of subsidizing is performed within financial year, from the moment of the conclusion of the agreement of subsidizing for the account and limits of the means provided according to the appropriate budget program. At the same time distribution of funds for subsidizing is performed taking into account earlier signed agreements of subsidizing.
9. Financial improvement is performed on condition of write-off by financial institutions of accrued fines and penalty fee, the added overdue remuneration is made with payment payment by installments the separate schedule (without capitalization in principal debt) with rate of remuneration of no more 0,1 of % per annum, except as specified, when there is consent of the borrower to capitalization of overdue remuneration in principal debt.
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