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The document ceased to be valid since December 12, 2018 according to Item 2 of the Resolution of Board of National Bank of the Republic of Kazakhstan of November 29, 2018 No. 307

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 19, 2015 No. 254

About approval of Rules of implementation of activities of the central depositary

(as amended on 28-12-2018)

According to the Law of the Republic of Kazakhstan of July 2, 2003 "About the security market" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of implementation of activities of the central depositary.

2. Recognize invalid regulatory legal acts of the Republic of Kazakhstan according to appendix to this resolution.

3. To department of supervision of subjects of the security market (Hadzhiyeva M. Zh.) in the procedure established by the legislation to provide:

1) together with Legal support department (Dosmukhambetov N. M.) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) the direction of this resolution on official publication in information system of law of Ad_let of the republican state company on the right of economic maintaining "The republican center of legal information of the Ministry of Justice of the Republic of Kazakhstan" within ten calendar days after its state registration in the Ministry of Justice of the Republic of Kazakhstan;

3) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication.

4. To department of the international relations and public relations (Kazybayev A. K.) provide the direction of this resolution on official publication in periodic printing editions within ten calendar days after its state registration in the Ministry of Justice of the Republic of Kazakhstan.

5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Smolyakov O. A.

6. This resolution becomes effective after ten calendar days after day of its first official publication.

Chairman of National Bank

D. Akishev

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of December 19, 2015 No. 254

Rules of implementation of activities of the central depositary

1. General provisions

1. These rules of implementation of activities of the central depositary (further – Rules) are developed according to the Law of the Republic of Kazakhstan of July 2, 2003 "About the security market" (further – the Law on the security market) and establish conditions and procedure of activities of the central depositary.

2. For the purposes of Rules the following concepts are used:

1) the client of the depositor - the physical person or legal entity using services of the depositor according to the service provision agreement of nominal continence signed with it;

2) the settlement organization - the organization making at the request of the central depositary transfer and accounting of money in national currency (National Bank of the Republic of Kazakhstan) and foreign currency (the banks of the second level performing custodial activities in the security market of the Republic of Kazakhstan and abroad, the international and foreign depositaries and custodians);

3) the accounting organization – registrar, bank custodian, the international and foreign depositaries in which addressed to the central depositary personal accounts for accounting of financial instruments are opened;

4) sub-account - the sub-account opened within personal account intended for accounting of the financial instruments belonging to the depositor (the client of the depositor) or the organizations performing dealer activities in the security market based on the license of authorized body or according to legal acts of the Republic of Kazakhstan;

5) the reserve center - the organization performing storage of the electronic data constituting system of accounting of the central depositary;

6) authorized body - authorized body on regulation, control and supervision of the financial market and the financial organizations.

3. The organizational structure of the central depositary includes the separate divisions performing:

1) depository activity;

2) money transfers in case of registration of transactions with financial instruments, in case of payment of the income for financial instruments and in case of their repayment, and also opening and maintaining current accounts for accounting and storage of money of depositors and their clients;

3) maintaining system of registers of shareholders of the registrar;

4) clearing activities for transactions with financial instruments;

5) risk management;

6) internal audit.

The requirement about availability of the division specified in the subitem 4) to part one of this Item extends to the central depositary when implementing of clearing activities for transactions with financial instruments by it.

Employees of the divisions specified in part one of this Item do not combine function and obligation of employees of other divisions, except for the division performing clearing activities.

4. For adoption of investment decisions on implementation of transactions with financial instruments at the expense of own assets the central depositary creates investment committee as a part of at least 3 (three) people.

5. Are part of investment committee:

1) members of executive body of the central depositary;

2) the division manager of the central depositary exercising risk management.

6. Election of members of investment committee is performed by executive body of the central depositary.

7. The procedure for activities of investment committee is established by internal documents of the central depositary.

8. The central depositary does not participate in creation and activities of legal entities, except for:

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