RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 31, 2015 No. 261

About approval of Rules of carrying out transactions with translated and promissory notes the banks of the second level, branches of nonresident banks of the Republic of Kazakhstan and the organizations performing separate types of banking activities

According to the subitem 27) "About National Bank of the Republic of Kazakhstan" the Board of National Bank of the Republic of Kazakhstan DECIDES: parts two of article 15 of the Law of the Republic of Kazakhstan

1. Approve the enclosed Rules of carrying out transactions with translated and promissory notes by the banks of the second level, branches of nonresident banks of the Republic of Kazakhstan and the organizations performing separate types of banking activities.

2. Recognize invalid:

1) the resolution of Board of National Bank of the Republic of Kazakhstan of November 15, 1999 No. 397 "About approval of Rules of carrying out the second level of transactions by banks with translated and promissory notes" (it is registered in the Register of state registration of regulatory legal acts at No. 1016);

2) Item 2 of the resolution of Board of National Bank of the Republic of Kazakhstan of May 13, 2005 No. 61 "About modification and amendments in some regulatory legal acts of National Bank of the Republic of Kazakhstan concerning implementation of the second level of transactions by banks with translated and promissory commercial bills" (it is registered in the Register of state registration of regulatory legal acts at No. 3684).

3. And managements of payment systems (Musayev R. N.) in the procedure established by the legislation to provide to development department:

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"? d_lt" 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 Pirmatov G. O.

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

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of December 31, 2015 No. 261

Rules of carrying out transactions with translated and promissory notes the banks of the second level, branches of nonresident banks of the Republic of Kazakhstan and the organizations performing separate types of banking activities

1. General provisions

Rules of carrying out transactions with translated and promissory notes by the banks of the second level, branches of nonresident banks of the Republic of Kazakhstan and the organizations performing separate types of banking activities (further - Rules), are developed according to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan", of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan", of April 28, 1997 "About circulation of bills in the Republic of Kazakhstan" (further - the Law on circulation of bills) and determine procedure for carrying out the second level by banks, branches of nonresident banks of the Republic of Kazakhstan and the organizations performing separate types of banking activities (further - banks), transactions with translated and promissory commercial bills (further - bills of exchange/bills of exchange).

1. In Rules the concepts provided by the Law on circulation of bills and also the following concepts are used:

1) the collection of the bill of exchange (collection) – transaction on bill presentation to payment and obtaining of payment on them bank at the request of the client;

2) domitsiliant – the payer according to bill of exchange and the drawer according to the promissory note;

3) domitsiliat – the bank specified in the bill of exchange as the intermediary making payment on the bill of exchange. Domitsiliat is not person obliged on the bill of exchange;

4) domitsiliation – making payment on the bill of exchange the third party (domitsiliaty) according to the order, from name and at the expense of the payer according to bill of exchange or the drawer according to the promissory note;

5) the domicile – the place of making payment specified in the bill of exchange;

6) inkassat – the bank which received the bill of exchange according to the preporuchitelny endorsement for the collection of the bill of exchange (collection) which acts as remitting bank or the collecting bank;

7) the collecting bank – the bank participating in the collection of the bill of exchange (collection), not being remitting bank;

8) the order for collection – specifying of the client to remitting bank about receipt of payment on the bill of exchange in time, specified in the bill of exchange, and/or timely making of protest in non-payment of the bill of exchange;

9) remitting bank – the bank accepting the order for collection;

10) the principal – the client of bank which charges to bank to perform the collection of the bill of exchange (collection).

2. The bank refuses carrying out transaction with the bill of exchange:

1) in case of its discrepancy to Articles 1 and 2 or articles 74 and 75 of the Law on circulation of bills;

2) if the sequence of endorsements is interrupted.

Implementation of check of authenticity of signatures of endorsees by bank, and also existence of the drawer and other persons obliged on the bill of exchange is allowed;

3) in case of the payment expiration on the bill of exchange;

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