ORDER OF THE MINISTER OF AGRICULTURE OF THE REPUBLIC OF KAZAKHSTAN

of June 26, 2015 No. 4-5/575

About approval of Rules of receipt of guarantees of 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 receipt of guarantees of 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. 4-5/575

Rules of receipt of guarantees of funds of guaranteeing obligation fulfillment for cotton receipts

1. General provisions

1. These rules of receipt of guarantees of 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" (further - the Law) and determine procedure for receipt of guarantees of funds of guaranteeing obligation fulfillment for cotton receipts.

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

1) amount of the guaranteed cotton - the cotton amount established by fund for each participant which responsibility on return is guaranteed by fund;

2) the agreement of participation - the agreement signed between fund and the cotton-processing organization on the basis of which the last participates in system of guaranteeing obligation fulfillment according to cotton receipts;

3) the member of fund - the cotton-processing organization having the license for rendering services in warehouse activities with issue of cotton receipts with which fund it is signed and the agreement of participation is effective;

4) 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;

5) fund of guaranteeing obligation fulfillment for cotton receipts - the legal entity performing the activities for the purpose of ensuring protection of the rights and legitimate interests of holders of cotton receipts from non-execution of obligations by the cotton-processing organizations for the cotton receipts issued by them (further - fund or funds).

2. Procedure for receipt of guarantees of fund

3. For receipt of guarantee of fund the holder of the cotton receipt submits in fund the application in any form and attaches to it the following documents:

1) the cotton receipt with undivided mortgage and warehouse certificates;

2) copies of the signed agreements of slaughtering of seed cotton in cotton-fiber and (or) the storages of seed cotton corresponding to standard forms of the agreements of storage and conversion approved by authorized body according to the subitem 17) of article 7 of the Law;

3) the cover letter of the participant with the petition for inclusion of this cotton receipt in amount of the guaranteed cotton;

4) legal entities represent copies of the certificate * or certificates of the state registration (re-registration) of the legal entity;

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;

5) physical persons represent the copy of the identity document of the holder of the cotton receipt, or the copy of the registration certificate of the individual entrepreneur (if the holder of the cotton receipt is individual entrepreneur);

6) the power of attorney on the right of the appeal to fund if not the first head of the holder of the cotton receipt of legal entity or physical person addressed to fund.

4. The fund refuses to the holder of the cotton receipt issue of guarantee if one of following cases takes place:

1) the cotton receipt is issued by the cotton-processing organization, not being the member of fund to which the holder of the cotton receipt addressed;

2) the holder of the cotton receipt did not submit the documents specified in Item 3 of these rules;

3) the cotton receipt does not conform to requirements of article 20 of the Law imposed to cotton receipts.

5. The refusal of fund in receipt of guarantee is not obstacle for the repeated address of the holder of the cotton receipt for receipt of guarantee, after elimination of cases, stipulated in Item 4 these rules.

6. Issue of guarantee of fund is performed within amount of the guaranteed cotton established by fund for the member of fund according to the agreement of participation signed between fund and the member of fund by making of the corresponding text on the cotton receipt with the authorized signature and impress of a seal of fund.

7. The term of issue of guarantees by fund does not exceed three working days from the moment of receipt of statements from holders of cotton receipts in fund.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info