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ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of December 12, 2016 No. 661

About approval of Provisional regulations for licensing of separate types of activity in the field of the non-bank financial market

(as amended on 30-01-2020)

For the purpose of settlement of licensing of activities in the field of the non-bank financial sector, according to the Law of the Kyrgyz Republic "About licensed authorization system in the Kyrgyz Republic", articles 10 and 17 of the constitutional Law of the Kyrgyz Republic "About the Government of the Kyrgyz Republic" the Government of the Kyrgyz Republic decides:

1. Approve Provisional regulations for licensing of separate types of activity in the field of the non-bank financial sector according to appendix.

2. This Resolution becomes effective after fifteen days from the date of official publication and is effective till December 31, 2020.

Prime Minister

S. Zheenbekov

Appendix

Provisional regulations for licensing of separate types of activity in the field of the non-bank financial market

1. General provisions

1. Physical persons and legal entities irrespective of form of business and the patterns of ownership which showed willingness to be engaged in the licensed type of activity in the field of the non-bank financial market shall obtain the corresponding license and/or permission.

2. Licensor in the field of the non-bank financial market is Public service of regulation and supervision of the financial market under the Government of the Kyrgyz Republic which grants licenses and permissions to the following types of activity and actions:

- activities for the organization of professional lottery;

- activities of pawnshops;

- the voluntary accumulative life insurance performed by insurance company;

- the voluntary personal insurance performed by insurance company;

- the voluntary property insurance performed by insurance company;

- the voluntary insurance of responsibility performed by insurance company;

- obligatory types of insurance, performed by insurance company;

- the inward reinsurance on obligatory and voluntary types of insurance performed by the reinsurance organization;

- activities of insurance broker;

- activities of non-state pension fund;

- the organization of trade in the security market;

- broker activities in the security market;

- maintaining register of security holders;

- depository activity in the security market;

- dealer activities in the security market;

- activities of investment fund;

- trust management of investment assets;

- carrying out the state or stimulating lottery;

- auditor activities;

- actuarial activities.

3. The statement on receipt of the license and/or permission moves in writing, according to appendix 1 to these Provisional regulations.

The license for implementation of the types of activity specified in Item 2 of these Provisional regulations is issued in form, according to appendix 2 to these Provisional regulations.

Permission to carrying out the state or stimulating lottery is issued in form according to appendix 4 to these Provisional regulations on the letterhead of the licensor.

4. Recognition of the licenses in the field of the non-bank financial market in the territory of the Kyrgyz Republic granted by authorized bodies of foreign states is performed according to the procedure, provided by the Law of the Kyrgyz Republic "About licensed authorization system in the Kyrgyz Republic".

2. Features of licensing of activities for the organization of professional lottery

5. The license for activities on the organization of professional lottery is termless.

6. The license for activities on the organization of professional lottery acts on all territory of the Kyrgyz Republic.

7. For receipt of license for activities on the organization of professional lottery the following documents are submitted:

- the statement of the established form;

- copy of the certificate on state registration of the legal entity;

- the copy of the document confirming introduction of the license fee for consideration of the application and licensing;

- conditions of carrying out lottery;

- business plan;

- the document confirming forming at least 30 percent from the total amount of prize fund of instant lottery;

- description of degrees of protection of lottery tickets.

2-1. Features of licensing of activities of pawnshops

7-1. The license for activities of pawnshops is termless and acts on all territory of the Kyrgyz Republic.

7-2. For receipt of license for activities of pawnshops the following documents are submitted:

- the statement of the established form;

- copy of the certificate on state registration (re-registration) of the legal entity;

- copies of the foundation agreement or decision of the single founder, charter of the legal entity, protocol of meeting of founders on adoption of the charter, statement of the head of executive body and chief accountant (in the presence);

- the information about officials of pawnshop (the head and the chief accountant (accountant) in form according to appendix 3 to these Provisional regulations;

- the written confirmation of commercial bank about account availability at the legal entity, and also the size of the paid authorized capital, is at least minimum size of the authorized capital which constitutes 500000 (five hundred thousand) som;

- the copy of the document confirming introduction of the license fee for consideration of the application and licensing;

- for the legal entity: the reference from tax authorities of absence of debt before the budget at the time of filing of application;

- loan agreement sample;

- list of separate divisions (in the presence);

- in case of intention to accept as a deposit the large-size property in addition is represented notarially certified / verified copy of the document on availability of the territory at least 100 (hundred) sq.m on the property right or on right to use.

In case of renewal of the license for the right of implementation of lombard activities, from small-size type of property on large-size property, the following documents are submitted:

- the statement of the established form;

- the copy of the document confirming introduction of the license fee for consideration of the application and licensing;

- earlier granted license for the right of implementation of lombard activities;

- notarially certified / verified copy of the document on availability of the territory at least 100 (hundred) sq.m on the property right or on right to use.

7-3. Licensed requirements to lombard activities:

1) for the head:

- availability of higher education (bachelor, master, specialist), availability of supporting documents;

- lack of criminal record or the extinguished or removed criminal record in accordance with the established procedure;

- availability of general years of service of labor activity at least 5 years;

2) for the chief accountant (the accountant in case of absence in the state of position of the chief accountant):

- availability of special preparation concerning financial accounting in the organizations (availability of supporting documents);

- lack of criminal record or the extinguished or removed criminal record in accordance with the established procedure;

- availability of length of service as the accountant at least two years;

3) minimum requirements to the pawnshop territory:

- the room of pawnshop located in trade organization, premises and other rooms shall be isolated from personnel and clients of the above-stated organizations, customer service shall be made only through cash window of pawnshop;

- in rooms of the pawnshops leasing or occupying separately located construction, the room with separate entrance in non-residential buildings or the apartment in the apartment house, availability of metal lattices at windows and entrance metal doors. Issue and return of the credits is made in pawnshop only through cash desk of pawnshop;

- the cash room of pawnshop shall be isolated, doors in cash desk during making of transaction are locked from the inside;

- availability of fireproof metal case (safe) for storage of small-size property;

4) in case of acceptance as proof of small-size property by the pledger the accepted pledge in the presence of the pledger is sealed in envelope, with indication of sequence number of cell of the safe, with the signature of the pledger on envelope joint;

5) storage of the pledged small-size property shall be performed in the certain isolated room of pawnshop.

At the end of the working day of door to this room and cash desk of pawnshop shall be closed by key and be sealed by pawnshop seal. Access to this room to persons which do not have relations to work of pawnshop is forbidden;

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