ORDER OF THE MINISTER OF AGRICULTURE OF THE REPUBLIC OF KAZAKHSTAN

of June 26, 2015 No. 4-5/576

About approval of Rules of repayment of obligations by funds of guaranteeing obligation fulfillment for cotton receipts

According to the subitem 18) article 7 of the Law of the Republic of Kazakhstan of July 21, 2007 "About development of cotton industry", PRIKAZYVAYU:

1. Approve the enclosed Rules of repayment of obligations by funds of guaranteeing obligation fulfillment for cotton receipts.

2. To provide to department of production and conversion of crop products and phytosanitary safety of the Ministry of Agriculture of the Republic of Kazakhstan in the procedure established by the legislation:

1) the state registration of this order in the Ministry of Justice of the Republic of Kazakhstan;

2) within ten calendar days after the 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 Ad_let;

3) placement of this order on Internet resource of the Ministry of Agriculture of the Republic of Kazakhstan.

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

Approved by the Order of the Minister of Agriculture of the Republic of Kazakhstan of June 26, 2015 No. 4-5/576

Rules of repayment of obligations by funds of guaranteeing obligation fulfillment for cotton receipts

1. General provisions

1. These rules of repayment of obligations by funds of guaranteeing obligation fulfillment for cotton receipts (further - Rules) are developed according to the subitem 18) of article 7 of the Law of the Republic of Kazakhstan of July 21, 2007 "About development of cotton industry" and determine procedure for repayment of obligations by funds of guaranteeing obligation fulfillment for cotton receipts (further - fund).

2. In these rules the following basic concepts are used:

1) the table of the prices - the document necessary for determination of the amount of warranty payments and containing the cotton cost established by fund for certain period according to its quality;

2) force majeure - force majeur circumstances: natural disasters, accidents of natural and technogenic nature which the parties not in forces to expect and prevent;

3) warranty case - approach of the fact of loss or the quality degradation of seed cotton and (or) cotton-fiber accepted on storage by the participant;

4) the agreement of participation - the agreement signed between fund and the participant on the basis of whom the last participates in system of guaranteeing obligation fulfillment according to cotton receipts;

5) the participant - the cotton-processing organization with which fund it is signed and the agreement of participation is effective;

6) the holder of the cotton receipt - the owner of cotton who transferred to the cotton-processing organization raw cotton to storage and (or) slaughtering; cotton-fiber and cottonseeds - on storage, in making cases on the cotton receipt of the endorsement - the endorsee.

2. Procedure for repayment of obligations by funds of guaranteeing obligation fulfillment for cotton receipts

3. In case of approach of warranty case the fund bearing subsidiary responsibility according to obligations of the participants pays to the holder of the cotton receipt money the cost of the fund of cotton which is not issued by the participant calculated according to Items 17 and 18 of these rules.

4. Effective period of guarantees of fund is specified in the cotton receipt. If guarantee period in the cotton receipt is not specified, then effective period of guarantee will constitute twelve months from the date of making of text by fund on the cotton receipt.

5. The fund does not guarantee obligation fulfillment according to cotton receipts of the cotton-processing organizations, not being members of this fund.

6. Repayment of obligations according to cotton receipts of participants is performed by fund according to these rules to the persons which are holders of the cotton receipt, who received guaranteeing fund.

7. In case of approach of warranty case the holder of the cotton receipt addresses to fund for receipt of warranty payment, except for case, stipulated in Item 5 these rules.

For receipt of warranty payment owners of cotton or their authorized representative (based on the power of attorney) who acquired it at the biddings of the pledged cotton if terms of guaranteeing by fund for the cotton receipt did not expire can address to fund.

8. For receipt of warranty payment are represented to fund:

1) the statement in any form with the requirement about receipt of warranty payment;

2) copies of the cotton receipt or document on results of the biddings and mortgage certificate.

In case of decision making by fund about satisfaction of the requirement originals of the above-stated documents are represented;

3) the copy of the appeal (claim) of the holder of the cotton receipt to local executive body of area, city of republican value and the capital and the copy of the statement which is drawn up by the state inspector of cotton industry by results of check of the participant according to this address (claim). The documents specified in this subitem are not represented in case of introduction of temporary management of the participant;

4) if the holder of the cotton receipt is physical person - the copy of the identity certificate (passport) and if the legal entity - the copy of the certificate * or certificates of the state registration (re-registration).

Note: * the certificate on the state (accounting) registration (re-registration) of the legal entity (branch, representation) issued before enforcement of the Law of the Republic of Kazakhstan of December 24, 2012 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning the state registration of legal entities and accounting registration of branches and representations" is valid before the termination of activities of the legal entity.

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