of December 7, 2015 No. 438-V ZRK
About the International financial center "Astana"
In this Constitutional law the following basic concepts are used:
1) the International financial center "Astana" (further - the Center) - the territory in city boundaries of Nour-Sultan with precisely designated borders determined by the President of the Republic of Kazakhstan in which the particular legal regime in the financial sphere is effective;
2) stock exchange - the legal entity in form of business of joint-stock company performing organizational and technical supply of the biddings by financial instruments in the Center;
3) licensing - complex of the actions connected with the issue of the operating authority in the territory of the Center requiring license availability;
4) the act of the Center - the written official document accepted by body of the Center, governing the relations arising between members of the Center and (or) bodies of the Center and (or) their workers;
5) members of the Center - the legal entities registered according to the law in force of the Center and also other legal entities accredited by the Center;
6) the worker of the participant or body of the Center - the physical person consisting in employment relationships with the participant or body of the Center to which duties realization of the main objectives and the purposes of the participant or body of the Center belongs;
7) members of the family of the worker of the participant or body of the Center - the spouse (spouse) of the worker of the participant or body of the Center and their children who did not reach eighteen-year age;
8) the register of the Center of identification numbers - the information system intended for accounting and storage of data on the bodies of the Center, their organizations and members of the Center, forming and storage of data on the assigned identification numbers created and stopped activities;
9) identification number - the unique number created in the form of business and identification number for bodies of the Center, their organizations and members of the Center, allowing to make records about the data relating to them in the register of the Center of identification numbers.
1. The purpose of the Center is forming of the leading international center of financial services.
2. Tasks of the Center are:
1) assistance in investment attraction in economy of the Republic of Kazakhstan by creation of the attractive circle for investment in the field of financial services;
2) market development of securities of the Republic of Kazakhstan, ensuring its integration with the international markets of the capital;
3) development in the Republic of Kazakhstan of the market of insurance, banking services, Islamic financing, financial technologies, electronic commerce and innovative projects;
4) development of financial and professional services on the basis of the best international the practician;
5) acquisition of the international recognition as financial center.
3. Activities of the Center are based on the following principles:
1) efficiency of activities of members of the Center;
2) transparency of activities of the Center and its participants;
3) conscientiousness of members of the Center;
4) professionalism of members of the Center in rendering financial services;
5) application in activities of members of the Center of international standards and the best international the practician.
4. Regulation of the Center is performed according to the principle of independence of the Center and its participants.
1. Requirements to legal entities and procedure for their accreditation as members of the Center, types of their activities which implementation is allowed in the territory of the Center procedure for licensing and qualifying standards to members of the Center, and also procedure for creation and registration of legal entities in the territory of the Center, their forms of business are determined by acts of the Center.
1-1. The identification numbers created for bodies of the Center, their organizations and members of the Center are recognized and applied on an equal basis with the identification numbers created according to the legislation of the Republic of Kazakhstan.
1-2. The procedure for creation, maintaining and use of the register of the Center of identification numbers, procedure for forming of identification numbers for bodies of the Center, their organizations and members of the Center are determined by the Managing director of the Center.
2. The procedure for release, placement, the address, redemption and repayment of securities in the territory of the Center is established by Committee of the Center for regulation of financial services.
The procedure for release, placement, the address, redemption and repayment of other financial instruments, placement and (or) the address of which are performed on the stock exchange, is established by stock exchange.
1. The law in force of the Center is based on the Constitution of the Republic of Kazakhstan and consists from:
1) this Constitutional law;
2) the acts of the Center which are not contradicting this Constitutional law which can be based on the principles, regulations and precedents of the right of England and Wales and (or) standards of the leading international financial centers accepted by bodies of the Center within the powers conferred by this Constitutional law;
3) the law in force of the Republic of Kazakhstan which is applied in the part which is not settled by this Constitutional law and acts of the Center.
2. The procedure for development, approval of authorized bodies, registration, enforcement, publication, modification, amendments, and also cancellation of acts of the Center is determined by acts of the Center.
1) civil relations;
2) civil and procedural relations;
3) financial relations;
4) ministerial procedures;
5) procedures of purchases by bodies of the Center of goods, works and services.
Organa Centre in the cases which are directly provided by this Constitutional law adopt the acts governing the relations which are not provided by part one of this Item.
For the purpose of ensuring national interests of the Republic of Kazakhstan and exception of conditions for emergence of threats of homeland security of the Republic of Kazakhstan of acts of the Center separate restrictions for members of the Center can be set.
4. If the international treaty ratified by the Republic of Kazakhstan establishes other rules, than those which contain in this Constitutional law then are applied rules of the international treaty.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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