RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of May 17, 2017 No. 19/13

About approval of the Provision "On Pre-judicial Regulation of Disputes between the National Bank of the Kyrgyz Republic and Commercial Banks, the Organizations Performing Separate Types of Banking Activities and Their Founders (Participants), Legal Entities and Physical Persons"

According to articles 7 and 43 of the Law "About National Bank of the Kyrgyz Republic" Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Provision "On Pre-judicial Regulation of Disputes between the National Bank of the Kyrgyz Republic and Commercial Banks, the Organizations Performing Separate Types of Banking Activities and Their Founders (Participants), Legal Entities and Physical Persons" it (is applied).

2. Recognize invalid:

- the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Regulations on pre-judicial regulation of disputes between the National Bank of the Kyrgyz Republic and commercial banks, the organizations performing separate types of banking activities and their founders (participants), legal entities and physical persons" of March 18, 2005 No. 5/5;

- the resolution of Board of National Bank of the Kyrgyz Republic "About modification and amendments in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "On Pre-judicial Regulation of Disputes between the National Bank of the Kyrgyz Republic and Commercial Banks, the Organizations Performing Separate Types of Banking Activities and Their Founders (Participants), Legal Entities and Physical Persons" of March 18, 2005 No. 5/5" of August 24, 2011 No. 48/4;

- Item 9 of Appendix to the resolution of Board of National Bank of the Kyrgyz Republic "Changes and amendments in some regulatory legal acts of National Bank of the Kyrgyz Republic" of April 25, 2012 No. 18/9;

- Item 7 of Appendix to the resolution of Board of National Bank of the Kyrgyz Republic "Changes and amendments in some regulatory legal acts of National Bank of the Kyrgyz Republic" of November 16, 2012 No. 43/1;

- Item 2 of Appendix to the resolution of Board of National Bank of the Kyrgyz Republic "Changes and amendments in some regulatory legal acts of National Bank of the Kyrgyz Republic" of September 25, 2013 No. 35/16;

- the paragraph 2 Items 1 of the resolution of Board of "About Modification and Amendments in Some Regulatory Legal Acts of National Bank of the Kyrgyz Republic" National Bank of November 27, 2014 No. 53/8;

- Item 1 of Appendix to the resolution of Board of National Bank of the Kyrgyz Republic "Changes and amendments in some resolutions of Board of National Bank of the Kyrgyz Republic" of November 27, 2014 No. 53/8;

- the paragraph of the 11th Item 1 of the resolution of Board of National Bank of the Kyrgyz Republic "About entering of amendments and changes into some resolutions of Board of National Bank of the Kyrgyz Republic" of February 5, 2016 No. 5/1;

- Item 10 of Appendix to the resolution of Board of "Amendments and Changes in Some Resolutions of National Bank of the Kyrgyz Republic" National Bank of February 5, 2016 No. 5/1;

- the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "On Pre-judicial Regulation of Disputes between National Bank of the Kyrgyz Republic and Operators of Payment Systems / Payment Institutes" of February 24, 2016 No. 10/8.

3. To legal management:

- publish this resolution on the official site of National Bank of the Kyrgyz Republic;

- after official publication to send this resolution to the Ministry of Justice of the Kyrgyz Republic for entering into the State register of regulatory legal acts of the Kyrgyz Republic.

4. This resolution becomes effective on June 22, 2017.

5. To management of methodology of supervision and licensing and Management of payment systems to bring this resolution to the attention of commercial banks, microfinancial organizations, credit unions, exchange bureaus, credit bureaus, specialized financial credit institute JSC Finance Company of Credit Unions, National bank of development of the Kyrgyz Republic, operators of payment systems and payment institutes of the Kyrgyz Republic and the international electronic payment systems, regional managements and representative office of National Bank of the Kyrgyz Republic in Batken Province.

6. To impose control of execution of this resolution on the board member of National Bank of the Kyrgyz Republic Dzhusupova T.Dzh.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of May 17, 2017 No. 19/13

Regulations on pre-judicial regulation of disputes between the National Bank of the Kyrgyz Republic and commercial banks, the organizations performing separate types of banking activities and their founders (participants), legal entities and physical persons

This Provision regulates procedure for pre-judicial appeal by bank, including non-bank financial credit institution, other legal (exchange bureau, credit bureau, the operator of payment system and payment institute) or physical person, including appeal of decisions on application of corrective actions and/or about imposing of penalties (further - corrective actions), and also the decisions concerning licensing made by authorized persons (structural divisions), the deputy the chairman/board member of National Bank or Committee on supervision of National bank / Committee on payment system of National Bank (further - Committee) within competence, the stipulated by the legislation Kyrgyz Republic.

Pre-judicial appeal of decisions of National Bank is obligatory.

Any decisions of National Bank, except for board decisions of National Bank which are appealed in court are subject to pre-judicial appeal.

Pre-judicial appeal does not suspend decisions of National Bank.

Chapter 1. General provisions

1. This Provision is applied in all cases when bank, legal entity or physical person according to this Provision, intend to appeal the solution of the authorized person (structural division), the Deputy Chairman/board member of National Bank or Committee.

2. In the this provision sense:

"Persons or body performing trial" - the deputy the Chairman/board member, the Chairman and Board of National Bank.

"Appellant" - bank, non-bank financial credit institution, other legal, or physical person which appeals the solution of the authorized person (structural division), the deputy chairman/board member of National Bank or Committee, according to the procedure established by this Provision.

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