RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 26, 2016 No. 311

About approval of Rules of application (establishment) of conservation regime of banks of the second level, carrying out transaction on simultaneous transfer of assets and obligations of bank in part or in complete size to another (another) to bank (banks) temporary administration on bank management (the interim manager of bank) at stage of preservation and coordination of this transaction by authorized body, and also asset type and the obligations which are subject to transfer when carrying out the specified transaction

According to the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of application (establishment) of conservation regime of banks of the second level, carrying out transaction on simultaneous transfer of assets and obligations of bank in part or in complete size to another (another) to bank (banks) temporary administration on bank management (the interim manager of bank) on stages of preservation and coordination of this transaction by authorized body, and also asset types and the obligations which are subject to transfer when carrying out the specified transaction.

2. Recognize invalid:

1) the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of August 5, 2009 No. 177 "About approval of Rules about preservation of banks of the second level and implementation by temporary administration on bank management (the interim manager of bank) of transaction on simultaneous transfer of assets and obligations of bank in part or in complete size before physical and (or) legal entities to another (another) to bank (banks)" (registered in the Register of state registration of regulatory legal acts at No. 5767, published on October 2, 2009 in the Yuridicheskaya Gazeta newspaper No. 150 (1747));

2) item 4 of the List of regulatory legal acts of the Republic of Kazakhstan concerning regulation, control and supervision of the financial market and the financial organizations to which changes and additions are made, the Board of National Bank of the Republic of Kazakhstan approved by the resolution of May 27, 2015 No. 93 "About modification and amendments in some regulatory legal acts of the Republic of Kazakhstan concerning regulation, control and supervision of the financial market and the financial organizations" (registered in the Register of state registration of regulatory legal acts at No. 11670, published on July 30, 2015 in information system of law of Ad_let).

3. To department of methodology of the financial market (Abdrakhmanov N. A.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

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

2) the direction of this resolution in 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" for inclusion in the State register of regulatory legal acts of the Republic of Kazakhstan, Reference control bank of regulatory legal acts of the Republic of Kazakhstan within ten calendar days from the date of 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 management on consumer protection of financial services and external communications (Terentyev A. L.) 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.

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of December 26, 2016 No. 311

Rules of application (establishment) of conservation regime of banks of the second level, carrying out transaction on simultaneous transfer of assets and obligations of bank in part or in complete size to another (another) to bank (banks) temporary administration on bank management (the interim manager of bank) on stages of preservation and coordination of this transaction by authorized body, and also asset types and the obligations which are subject to transfer when carrying out the specified transaction

Chapter 1. General provisions

1. These rules of application (establishment) of conservation regime of banks of the second level, carrying out transaction on simultaneous transfer of assets and obligations of bank in part or in complete size to another to bank (banks) temporary administration on bank management (the interim manager of bank) on stages of preservation and coordination of this transaction by authorized body, and also asset types and the obligations which are subject to transfer when carrying out the specified transaction (further - Rules) are developed (another) according to the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks) and determine procedure for application (establishment) for conservation regime of banks of the second level (further - bank), carrying out transaction on simultaneous transfer of assets and obligations of bank in part or in complete size to another (another) to bank (banks) temporary administration on bank management (the interim manager of bank) at preservation stage (further - temporary administration (interim manager)), coordination by authorized body on regulation, control and supervision of the financial market and the financial organizations (further - authorized body) this transaction, and also asset types and the obligations which are subject to transfer when carrying out the specified transaction.

2. Establishment of conservation regime assumes appointment on limited (up to one year) the term of temporary administration (interim manager).

3. Tasks of temporary administration (interim manager) are improvement of financial position of bank and improvement of quality of its work.

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