ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of February 18, 2004 No. 191

About approval of Rules of financing of providing with agricultural machinery on leasing basis

According to the order of the Government of the Republic of Kazakhstan of December 12, 2003 N 1260 "About implementation of the Law of the Republic of Kazakhstan "About the republican budget for 2004" the Government of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of financing of providing with agricultural machinery on leasing basis.

2. This resolution becomes effective from the date of signing.

Approved by the order of the Government of the Republic of Kazakhstan of February 18, 2004 No. 191

Rules of financing of providing with agricultural machinery on leasing basis

1. General provisions

1. These rules determine procedure and conditions of loan granting at the expense of the means provided in the republican budget for 2004 according to the program 008 "Financing of providing with agricultural machinery on leasing basis" in the amount of 1000000000 (one billion) tenges (further - Means).

2. Procedure and terms for crediting

2. Funds are allocated from the republican budget according to the procedure, established by the legislation on the terms of urgency, the paid nature, security and recoverability for the term of 7 (seven) years on fixed rate of remuneration of equal 0,5 of % per annum.

3. Funds are allocated for acquisition of the agricultural machinery which is subject to the subsequent transfer to different types of leasing (further - the Equipment), and the cost recoveries connected with acquisition of the Equipment.

4. Assignment is made by crediting of bank of the second level or the organization having the license of National Bank of the Republic of Kazakhstan for implementation of separate types of banking activities (further - the Borrower).

The borrower is determined according to the Rules of financial procedures on budget implementation and maintaining forms of the reporting (periodic and annual) for the public institutions containing at the expense of the government budget approved by the order of the Government of the Republic of Kazakhstan of July 25, 2002 N 832.

5. For assignment the Ministry of Finance of the Republic of Kazakhstan (further - the Creditor) together with the Borrower and the Ministry of Agriculture of the Republic of Kazakhstan (further - the Administrator of the budget program) signs credit agreements (further - Credit agreements) in which procedure for assignment from the republican budget and their return according to these rules, methods of ensuring obligation fulfillment by the Borrower and other conditions are determined.

6. The borrower performs target use of Means, their timely return to the republican budget and timely repayment of rate of remuneration.

7. Allocation from the republican budget of Means to the Administrator of the budget program for the subsequent direction to the Borrower is performed by single tranche according to funding plan according to obligations and payments.

8. The borrower according to the procedure and the terms determined by Credit agreements represents to the Administrator of the budget program and the Creditor the report on use of allocated funds with application of copies of supporting documents.

9. The nomenclature and amounts acquired by the Borrower Tekhniki are determined by the Borrower based on the agreements of leasing signed by the time of acquisition.

3. Control of use of Means

10. The creditor exercises control of development, target use and timely return to the republican budget of Means.

11. The administrator of the budget program approves the nomenclature and amounts acquired by the Borrower Tekhniki, amount of remuneration of the Borrower on leasing and leasing terms.

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