RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of August 27, 2018 No. 204

About modification and amendments in some regulatory legal acts of the Republic of Kazakhstan concerning regulation of insurance activity

For the purpose of enhancement of regulatory legal acts of the Republic of Kazakhstan the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the List of regulatory legal acts of the Republic of Kazakhstan concerning regulation of insurance activity to which changes and additions are made (further - the List), according to appendix to this resolution.

2. To department of regulation of the non-bank financial organizations (Kosherbayeva A. M.) 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) within ten calendar days from the date of state registration of this resolution its direction in the Kazakh and Russian languages in the Republican state company on the right of economic maintaining "The republican center of legal information" for official publication and inclusion in Reference control bank of regulatory legal acts 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) within ten working days after state registration of this resolution submission to Legal department of data on execution of the actions provided by subitems 2), 3) of this Item and Item 3 of this resolution.

3. To management on consumer protection of financial services and external communications (Terentyev A. L.) provide within ten calendar days after state registration of this resolution the direction it to the copy on official publication in periodic printing editions.

4. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Kurmanov Zh. B.

5. This resolution becomes effective after ten calendar days after day of its first official publication, except for paragraphs of the thirty fifth and thirty sixth Item 1, of Item 4, of paragraphs of the seventh, eighth and eighteenth Item 7 of the List which become effective since January 1, 2019.

Appendix

to the Resolution of Board of National Bank of the Republic of Kazakhstan of August 27, 2018 No. 204

The list of regulatory legal acts of the Republic of Kazakhstan concerning regulation of insurance activity to which changes and additions are made

1. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of September 24, 2003 No. 345 "About approval of the Standard agreement of participation in Fonda of guaranteeing insurance payments" (it is registered in the Register of state registration of regulatory legal acts at No. 2548) the following changes:

in the Standard agreement of participation in the Fund of guaranteeing insurance payments approved by the specified resolution:

to state part one of preamble in the following edition:

""Fund of guaranteeing insurance payments" joint-stock company (further - Fund) on behalf of the Chairman _____________________, acting on the basis of the Charter, and the Insurance company (further - insurance company - the participant) ________________ on behalf of the Chairman ____________, acting on the basis of the Charter, the hereinafter referred to as Parties, signed the agreement as follows:";

state Item 1 in the following edition:

"1. Subject of this agreement is participation of insurance company - the participant in Fund according to requirements of the Law and regulatory legal acts of authorized body for regulation, control and supervision of the financial market and the financial organizations (further - authorized body) by payment of compulsory, additional and extraordinary contributions, forming of contingent obligations, and also acceptance on itself the obligations defined by this agreement on additional protection of the rights of insurers.";

state Items 3 and 4 in the following edition:

"3. Calculation of the amount of compulsory contribution insurance company - the participant is made independently according to the resolution of Board of National Bank of the Republic of Kazakhstan of December 24, 2012 No. 387 "About approval of the Method of calculation of rate of compulsory, additional contributions and contingent obligations, procedure and payment due dates of compulsory, additional and extraordinary contributions, procedure for forming and accounting of contingent obligations by insurance companies - members of Fund of guaranteeing insurance payments", registered in the Register of state registration of regulatory legal acts at No. 8329 (further - the Resolution No. 387).

4. Payment of compulsory contributions is made by the insurance participating organizations performing activities in industry "general insurance", independently into the account of Fund in National Bank of the Republic of Kazakhstan following the results of every quarter no later than 15 (fifteenth) following reporting quarter.

Payment of compulsory contributions is made by the insurance participating organizations performing activities in industry "life insurance", independently into the account of Fund in National Bank of the Republic of Kazakhstan following the results of financial year no later than 15 (fifteen) calendar days after approval of rate of compulsory contributions.";

state Chapter 2-1 in the following edition:

"Chapter 2-1. Payment procedure of additional contributions, the insurance participating organizations performing activities in industry "general insurance"

4-1. The insurance company - the participant, the performing activities in industries "general insurance", pays additional contributions in the amount of, determined according to the rate of additional contributions established by Fund annually in coordination with authorized body.

4-2. Calculation of the amount of additional contribution insurance company - the participant, performing activities in industry "general insurance", is made independently according to the Resolution No. 387.

4-3. Payment of additional contributions is made by insurance company - the participant, performing activities in industry "general insurance", independently into the account of Fund in National Bank of the Republic of Kazakhstan following the results of every quarter no later than the fifteenth following reporting quarter.";

10, 11 and 12 to state Items in the following edition:

"10. Calculation of the amount of contingent obligations by insurance company - the participant is made independently according to the Resolution No. 387.

11. Forming of contingent obligations is made by independently insurance company - the participant, performing activities in industry "general insurance", quarterly on each guaranteed type of insurance as of the first, following reporting quarter and the created contingent obligations do not change before completion of the current quarter.

Forming of contingent obligations is made by independently insurance company - the participant, performing activities in industry "life insurance", annually no later than 15 (fifteen) calendar days after approval of rate of contingent obligations, and the created contingent obligations do not change before completion of the current financial year.

12. The fund performs payment of the insurance portfolio of compulsorily liquidated insurance (reinsurance) organization transferred to insurance company - to the participant, the assets acquired as a result of investment according to the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of financial supervision and the financial organizations of October 2, 2008 No. 148 "About approval of Rules of investment of assets of "Fund of Guaranteeing Insurance Payments" joint-stock company registered in the Register of state registration of regulatory legal acts at No. 5365, and the resolution of Board of National Bank of the Republic of Kazakhstan of August 27, 2018 No. 199 "About approval of the List of the financial instruments permitted to acquisition at the expense of reserves of guaranteeing insurance payments and reserve of indemnification, and Rules of collection of commission fee by "Fund of Guaranteeing Insurance Payments" joint-stock company registered in the Register of state registration of normative

legal acts at No. 17396.";

state Item 14 in the following edition:

"14. Warranty payments are performed by Fund according to the procedure and on the conditions established by articles 15 and 15-1 of the Law and the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of financial supervision and the financial organizations of April 30, 2010 No. 62 "About approval of Rules of implementation of warranty payments by the "Fund of Guaranteeing Insurance Payments" Joint-stock company registered in the Register of state registration of regulatory legal acts at No. 6287.";

3) of Item 28 to state the subitem in the following edition:

"To publish 3) in the periodic printing editions distributed in all territory of the Republic of Kazakhstan, in the Kazakh and Russian languages and on the Internet resource the annual financial reporting confirmed with auditing organization;";

1) of Item 30 to state the subitem in the following edition:

"To publish 1) in the periodic printing editions distributed in all territory of the Republic of Kazakhstan, in the Kazakh and Russian languages information on participation in system of guaranteeing insurance payments;";

2) and 2-1) Items 31 to state subitems in the following edition:

"Quarterly no later than the fifteenth following reporting quarter to represent 2) to Fund of data for the added amount of insurance premiums, compulsory contributions, additional contributions and contingent obligations for form according to appendix 1 to this Standard agreement;

2-1) within 30 (thirty) calendar days after completion of the previous financial year to represent to Fund of the data on the number of the signed insurance contracts, the total amount of insurance reserves, the total added amount of insurance premiums and insurance payments for form according to appendix 2 to this Standard agreement, and also the other information necessary for realization of tasks and functions of Fund;";

state Item 33 in the following edition:

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