RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of January 31, 2019 No. 12

About introduction of amendments to the resolution of Board of National Bank of the Republic of Kazakhstan of December 26, 2016 No. 304 "About establishment of normative values and techniques of calculations of prudential standard rates of the insurance (reinsurance) organization and insurance group and other regulations and limits, the list, forms, obligatory to observance, terms of submission of the reporting on accomplishment of prudential standard rates by the insurance (reinsurance) organizations and insurance groups, Rules of submission of the reporting on accomplishment of prudential standard rates by the insurance (reinsurance) organizations and insurance groups, requirements to the shares acquired by the insurance (reinsurance) organizations, the affiliated organizations of the insurance (reinsurance) organizations or insurance holdings (to shares in the authorized capital) legal entities, the list of bonds of the international financial institutions acquired by insurance holdings, the minimum required rating for bonds acquired by insurance holdings, and the list of rating agencies, and also the list of the financial instruments (except for shares and shares in the authorized capital) acquired by the insurance (reinsurance) organizations"

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. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of December 26, 2016 No. 304 "About establishment of normative values and techniques of calculations of prudential standard rates of the insurance (reinsurance) organization and insurance group and other regulations and limits, the list, forms, obligatory to observance, terms of submission of the reporting on accomplishment of prudential standard rates by the insurance (reinsurance) organizations and insurance groups, Rules of submission of the reporting on accomplishment of prudential standard rates by the insurance (reinsurance) organizations and insurance groups, requirements to the shares acquired by the insurance (reinsurance) organizations, the affiliated organizations of the insurance (reinsurance) organizations or insurance holdings (to shares in the authorized capital) legal entities, the list of bonds of the international financial institutions acquired by insurance holdings, the minimum required rating for bonds acquired by insurance holdings, and the list of rating agencies, and also the list of the financial instruments (except for shares and shares in the authorized capital) acquired by the insurance (reinsurance) organizations" (it is registered in the Register of state registration of regulatory legal acts at No. 14794, it is published on February 24, 2017 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan) the following changes:

in the Normative values and technique of calculations of prudential standard rates of the insurance (reinsurance) organization and insurance group and other regulations and limits, obligatory to observance, approved by the specified resolution:

state Item 3 in the following edition:

"3. Prudential standard rates and other regulations, obligatory to observance, and limits for the insurance (reinsurance) organizations include:

minimum size of the authorized capital;

standard rate of sufficiency of margin of solvency;

standard rate of sufficiency of highly liquid assets;

standard rates of asset diversification;

the amount of own deduction of the insurance (reinsurance) organization under the agreement (agreements) of insurance, reinsurance, joint insurance (joint reinsurance).

Additional prudential standard rates for the insurance (reinsurance) organizations include:

reserve of unexpected risks;

stabilization reserve.

The insurance (reinsurance) organization provides daily observance of the standard rate of sufficiency of margin of solvency, the standard rate of sufficiency of highly liquid assets, standard rates of asset diversification.";

state Item 9 in the following edition:

"9. The minimum size of margin of solvency of the insurance (reinsurance) organization increases by the amount of the obligations transferred (transferred) to reinsurance to the insurance (reinsurance) organizations - residents and nonresidents of the Republic of Kazakhstan according to current agreements of reinsurance depending on rating assessment of the overcautious person or value of the standard rate of sufficiency of margin of solvency of the reinsurance resident organization of the Republic of Kazakhstan on the previous reporting date according to the amount of increase in the minimum size of margin of solvency in form according to the table 2 of appendix 1 to the List, the forms, terms of submission of the reporting on accomplishment of prudential standard rates by the insurance (reinsurance) organizations and insurance groups established by this resolution.

In case of exceeding of the cumulative size of the insurance premiums added to the reinsurance organizations - to nonresidents of the Republic of Kazakhstan under agreements of reinsurance upon completion of financial year, less the commission fees added to obtaining from them the reinsurer (assignor), more than twenty five percent from the cumulative size of the insurance premiums added to obtaining upon completion of financial year, the calculated amount of increase in the minimum size of margin of solvency increases twice.";

state Item 14 in the following edition:

"14. The minimum size of margin of solvency increases by the following amounts:

according to insurance contracts (reinsurance) on the classes in voluntary form of insurance specified in subitems 13), 14), 15-1) and 16) of Item 3 of article 6 of the Law - for 10 (ten) percent from insurance premiums on current agreements of insurance (reinsurance) on these classes of insurance by the end of the reporting period;

according to insurance contracts (reinsurance) on the class in voluntary form of insurance specified in the subitem 12) of Item 3 of article 6 of the Law, object of insurance on which are the valuable interests of the insurer or beneficiary connected with indemnification as a result of non-execution (improper execution) by the insurer (insured) of the agreement obligations, concluded between the insurer, the insured or third party - for 10 (ten) percent from insurance premiums on current agreements of insurance (reinsurance) on this class of insurance by the end of the reporting period;

according to the insurance contracts (reinsurance) providing compensation of financial losses of persons connected with the insurance (reinsurance) organization the special relations within the classes in voluntary form of insurance specified in subitems 13), 14), 15-1) and 16) of Item 3 of article 6 of the Law - in addition for 10 (ten) percent from insurance premium on the insurance contracts (reinsurance) existing by the end of the reporting period.";

state Item 17 in the following edition:

"17. Calculation of the minimum size of margin of solvency for the insurance company performing activities in industry "life insurance" is performed separately on insurance classes:

1) on the classes "life insurance" and "annuity insurance";

2) on the classes "accidents insurance", "sickness insurance" and "compulsory insurance of the worker from accidents in case of execution of labor (office) obligations by it".

For calculation of the minimum size of margin of solvency of insurance company the amounts calculated according to Items 18 and 23 of Standard rates are accepted.";

to state the paragraph of the sixth part one of Item 21 in the following edition:

"under agreements of retirement annuity - to the work of the maximum size of the effective annual interest rate established according to the Requirements to forming, method of calculation of insurance reserves and their structure determined by regulatory legal act of authorized body according to Item 3 of article 47 of the Law (further - Requirements to forming, method of calculation of insurance reserves and their structure), from the amount of the created insurance reserves and the correction coefficient calculated according to part two of this Item.";

exclude Item 22;

the second Item 23 to state part in the following edition:

"When calculating the minimum size of margin of solvency with use of "method of awards" on the class "compulsory insurance of the worker from accidents in case of execution of labor (office) obligations by it" the amount of cumulative insurance premiums (cumulative earned premiums) accepted by the insurance (reinsurance) organization on this class of insurance except for of insurance premiums (earned premiums) under the agreement (agreements) of insurance of this class of insurance accepted by means of creation of insurance (reinsurance) pool is subject to increase by 100 (hundred) percent.";

state Item 33 in the following edition:

"33. The actual margin of solvency calculated taking into account classification of assets by quality and liquidity is determined by the following formula:

FMP = AKL - WEDNESDAY - Oh, where:

AKL - assets taking into account their classification by quality and liquidity according to Item 34 of Standard rates;

WEDNESDAY - the amount of insurance reserves of the insurance (reinsurance) organization minus the overcautious person's share for the end of the last month under report calculated according to Requirements to forming, method of calculation of insurance reserves and their structure. The amount of insurance reserves is used about day of provision of monthly financial and other reporting in authorized body (to the fifth following month under report the amount of insurance reserves for last month under report is used);

About - obligations, except for insurance reserves.";

in Item 34:

6) and 7) to state subitems to part one in the following edition:

"6) till July 1, 2019:

fixed assets in the form of real estate in the amount which is not exceeding 5 (five) percent from the amount of highly liquid assets of the insurance (reinsurance) organization - of 100 (hundred) percent from book value taking into account accumulated depreciation;

7) till January 1, 2022:

intangible assets: the software acquired for the purposes of main insurance activity (reinsurance) organization - in the amount of cost taking into account accumulated depreciation and not exceeding 10 (ten) percent from the amount of highly liquid assets of the insurance (reinsurance) organization;";

parts the second, third and fourth to state in the following edition:

"Insurance premiums to obtaining from insurers join in calculation of insurance value (reinsurance) organization taking into account their classification by quality and liquidity in case of payment by the insurer at least one twelfth part of insurance premium according to the insurance contract, taking into account additional (additional) agreements (agreements) to the insurance contract, or the first insurance premium under the agreement of accumulative insurance no later than the fifth working day following month under report.

Insurance premiums to obtaining from reinsurers join in calculation of insurance value (reinsurance) organization taking into account their classification by quality and liquidity in case of payment by the reinsurer at least one twelfth part of insurance premium under the agreement of reinsurance no later than the fifth working day following month under report.

(Reinsurance) organization taking into account their classification by quality and liquidity do not join in calculation of insurance value (except for receivables which arose in connection with placement of money on accounts at the organization performing broker and (or) dealer activities in the security market in case of transactions with financial instruments (the money specified subitem in paragraph six 1) to part one of this Item):

receivables delayed under the terms of the contract for term more than 3 (three) working days;

receivables delayed under the terms of the contract for term more than 30 (thirty) calendar days for the insurance (reinsurance) organizations which share of insurance premiums on the class "sickness insurance" constitutes more than 80 (eighty) percent in total amount of insurance premiums on current agreements of insurance (reinsurance) on reporting date;

receivables formed according to insurance contracts (reinsurance), effective period of insurance (reinsurance) protection according to which did not come;

receivables of large participants, the affiliated organizations, organizations in which the insurance (reinsurance) organization is large participant or have considerable participation, and also other affiliated organizations.";

the fifth to state the paragraph to part one of Item 35 in the following edition:

"WEDNESDAY - the amount of insurance reserves of the insurance (reinsurance) organization minus the overcautious person's share for the end of the last month under report calculated according to Requirements to forming, method of calculation of insurance reserves and their structure. The amount of insurance reserves is used about day of provision of monthly financial and other reporting in authorized body (to the fifth following month under report the amount of insurance reserves for last month under report is used).";

exclude Items 36 and 37;

third the subitem 4) to state the paragraph to part one of Item 38 in the following edition:

"are affiliated resident banks of the Republic of Kazakhstan which parent nonresident banks of the Republic of Kazakhstan have long-term credit rating in foreign currency not below "And -" on the international scale of the Standard & Poor agency "s or the rating of similar level of one of other rating agencies, taking into account the amounts of principal debt and the added remuneration, less doubtful debt allowance;";

state Items 40 and 41 in the following edition:

"40. For calculation of the amount of assets of the insurance (reinsurance) organization for quality and liquidity and highly liquid assets of the insurance (reinsurance) organization are not considered:

1) assets on which the property right of the insurance (reinsurance) organization is limited (including as a result of provision as a deposit, transaction on encumbrance of asset for ensuring obligation fulfillment), except for the assets which are repo operation subject;

2) deposits in banks of the second level and the share of legal entities who according to the Law are large members, the affiliated organizations of the insurance (reinsurance) organization or the organizations in which the insurance (reinsurance) organization has considerable participation;

3) the securities issued by legal entities being the faces tied with the insurance (reinsurance) organization the special relations.

41. For calculation of the amount of assets of the insurance (reinsurance) organization for quality and liquidity and highly liquid assets of the insurance (reinsurance) organization according to Items 34 and 38 of Standard rates transactions "the return by repo", made with participation of assets of the insurance (reinsurance) organizations according to Item 42 of Standard rates with 30 (тридцатью) percentage discount are considered.";

state Item 42 in the following edition:

"42. The insurance (reinsurance) organization observes the following standard rates of asset diversification:

Total 1) placement in securities (taking into account transactions "the return repo"), deposits and money (less doubtful debt allowance) in one bank of the second level having long-term credit rating is not lower than "VV-" on the international scale of the Standard & Poor agency "s or the rating of similar level of one of other rating agencies, or being affiliated resident bank of the Republic of Kazakhstan which parent nonresident bank of the Republic of Kazakhstan has long-term credit rating in foreign currency not below "And -" the Standard & Poor agencies "s or the rating of similar level of one of other rating agencies, and affiliates of this bank - no more than 20 (twenty) percent from the amount of the assets calculated according to Item 34 of Standard rates;

Total 2) placement in securities (taking into account transactions "the return repo"), deposits and money (less doubtful debt allowance) in one bank of the second level having long-term credit rating from "In" to "In +" on the international scale of the Standard & Poor agency "s or the rating of similar level of one of other rating agencies and affiliates of this bank - no more than 15 (fifteen) percent from the amount of the assets calculated according to Item 34 of Standard rates;

Total 3) placement in securities (taking into account transactions "the return repo"), deposits and money (less doubtful debt allowance) in one bank of the second level having long-term credit rating "In -" on the international scale of the Standard & Poor agency "s or the rating of similar level of one of other rating agencies, and affiliates of this bank - no more than 10 (ten) percent from the amount of the assets calculated according to Item 34 of Standard rates;

Total 4) placement in securities (taking into account transactions "the return repo") and money (less doubtful debt allowance) in one legal entity, not being bank of the second level, and affiliates of this legal entity - no more than 10 (ten) percent from the amount of the assets calculated according to Item 34 of Standard rates;

5) transactions "the return repo", made with participation of assets of the insurance (reinsurance) organization, concluded for the term of no more than 30 (thirty) calendar days (in trade system of stock exchange) - no more than 30 (thirty) percent from the amount of the assets calculated according to Item 34 of Standard rates;

Total 6) placement in the affined precious metals and metal deposits, for the term of no more than 12 (twelve) months - no more than 10 (ten) percent from the amount of the assets calculated according to Item 34 of Standard rates;

Total 7) the size of loans to insurers of the insurance (reinsurance) organization performing activities for industry "life insurance" - no more than 10 (ten) percent from the amount of the assets calculated according to Item 34 of Standard rates;

8) total placement in the securities (taking into account transactions "the return repo") having the status state, issued by the central government of foreign state less doubtful debt allowance - no more than 10 (ten) percent from the amount of the assets calculated according to Item 34 of Standard rates;

Total 9) placement in securities (taking into account transactions "the return repo") international financial institution which is included into the list, stipulated in Item 39 Standard rates, less doubtful debt allowance - no more than 10 (ten) percent from the amount of the assets calculated according to Item 34 of Standard rates;

Total 10) the amount of investments into the shares conforming to requirements of subitems 12) and 13) of Item 38 of Standard rates less doubtful debt allowance - no more than 10 (ten) percent from the amount of the assets calculated according to Item 34 of Standard rates;

Total 11) the amount of investments into shares of open and interval mutual investment funds, less doubtful debt allowance - no more than 5 (five) percent from the amount of the assets calculated according to Item 34 of Standard rates;

Total 12) the amount of investments into the debt securities issued by local executive bodies of the Republic of Kazakhstan taking into account the amounts of principal debt and the added remuneration, less doubtful debt allowance - no more than 10 (ten) percent from the amount of the assets calculated according to Item 34 of Standard rates;

Total 13) the amount of investments into the instruments of Islamic financing conforming to requirements of subitems 15) and 16) of Item 38 of Standard rates less doubtful debt allowance - no more than 10 (ten) percent from the amount of the assets calculated according to Item 34 of Standard rates.

Investments of the insurance (reinsurance) organization into debt securities do not exceed 25 (twenty five) percent from the total amount of bonds of one issue of bank of the second level of the Republic of Kazakhstan.

When calculating the standard rates of asset diversification specified in subitems 1), 2) and 3) of this Item, total placement in assets of bank of the second level and its affiliates is reflected in one of standard rates depending on the greatest admissible limit of placement of assets in this group of affiliates.";

the second Item 43 to state part in the following edition:

"For the purposes of calculation of standard rates of asset diversification are not recognized affiliates of the organization of person, being affiliated only through national managing holding.";

state Item 44 in the following edition:

"44. In case of change in value of assets of the insurance (reinsurance) organization minus reinsurance assets on reporting date for 20 (twenty) and more percent from insurance value (reinsurance) organization minus reinsurance assets on the previous reporting date, in connection with change in the exchange rate of national currency, the insurance (reinsurance) organization brings standard rates of asset diversification into accord with requirements of Item 42 of Standard rates within 3 (three) months from the date of exceeding of these standard rates of asset diversification.

In case of rating downgrade of bank of the second level it is lower than the level, Item 42 of Standard rates provided by subitems 1), 2) and 3) for the corresponding standard rate of diversification, the insurance (reinsurance) organization brings standard rates of asset diversification into accord with requirements of subitems 1), 2) and 3) of Item 42 of Standard rates within 1 (one) month from the date of exceeding of these standard rates of asset diversification.

In case of affiliation between the banks of the second level and (or) legal entities which are not banks of the second level, the insurance (reinsurance) organization brings standard rates of asset diversification into accord with requirements of subitems 1), 2), 3) and 4) of Item 42 of Standard rates within 1 (one) month from the date of exceeding of these standard rates of asset diversification.

In case of receipt of compensation from the overcautious person on the current account in the bank of the second level exceeding 10 (ten) percent from the amount of the assets calculated according to Item 34 of Standard rates, the insurance (reinsurance) organization brings standard rates of asset diversification into accord with requirements of subitems 1), 2) and 3) of Item 42 of Standard rates within 3 (three) working days from the date of exceeding of these standard rates of asset diversification.

Exceeding of standard rates of asset diversification during the term established by parts one, the second, third and fourth this Item is not considered violation of standard rates of asset diversification.";

state Item 45 in the following edition:

"45. The insurance (reinsurance) organizations observe the regulations, following other obligatory to observance:

1) the insurance (reinsurance) organizations transfer insurance risks to reinsurance to the insurance (reinsurance) resident organizations of the Republic of Kazakhstan only in case of observance of the standard rate of sufficiency of solvency margin by the last;

2) repo transactions are made in transaction type "the return by repo" by automatic method.";

to state heading of paragraph 2 in the following edition:

"Paragraph 2. The amount of own deduction of the insurance (reinsurance) organization under the agreement (agreements) of insurance, reinsurance, joint insurance (joint reinsurance)";

in Item 46:

the first and second to state parts in the following edition:

"46. The amount of own deduction of the insurance (reinsurance) organization under the agreement (agreements) of insurance, reinsurance, joint insurance (joint reinsurance) is calculated the actuary according to the policy of reinsurance approved by the board of directors of the insurance (reinsurance) organization.

The maximum amount of own deduction of the insurance (reinsurance) organization according to the separate insurance contract for date of the conclusion and modification of the insurance contract (reinsurance) (regarding amount of obligations) does not exceed according to insurance contracts (inward reinsurance):

100 (hundred) percent in relation to the size of actual margin of solvency of the insurance (reinsurance) organization, but no more than 25 000 000 000 (twenty five billion) tenges, in case of value of the standard rate of sufficiency of margin of solvency are not lower than the level exceeding the minimum value of the standard rate of sufficiency of margin of solvency established by this resolution on Item 0,2;

80 (eighty) percent in relation to the size of actual margin of solvency of the insurance (reinsurance) organization, but no more than 25 000 000 000 (twenty five billion) tenges, in case of value of the standard rate of sufficiency of margin of solvency are lower than the level exceeding the minimum value of the standard rate of sufficiency of margin of solvency established by this resolution on Item 0,2.";

the fourth to state part in the following edition:

"In case of joint insurance (joint reinsurance) the calculation specified in part two of this Item is performed proceeding from share from insurance sum of each insurer (overcautious person).";

state Item 47 in the following edition:

"47. Reserve of unexpected risks (further - RNR) - the reserve on possible future risks for covering of insurance payments and expenses on settlement of insurance losses created in case of insufficiency of the reserve of not earned premium (further - RNP) calculated according to Requirements to forming, method of calculation of insurance reserves and their structure.";

to state the paragraph of the sixth part four of Item 64 in the following edition:

"And - the amount of assets, the contingent and possible obligations of the member of insurance group weighed on degree of credit risk of investments according to the Normative values and techniques of calculations of prudential standard rates and other regulations, obligatory to observance, and limits of the size of the capital of bank for certain date approved by the resolution of Board of National Bank of the Republic of Kazakhstan of September 13, 2017 No. 170, registered in the Register of state registration of regulatory legal acts at No. 15886.";

in the List, forms, terms of submission of the reporting on accomplishment of the prudential standard rates by the insurance (reinsurance) organizations and insurance groups approved by the specified resolution:

state item 4 in the following edition:

"4. Insurance groups represent report form about accomplishment of the standard rate of sufficiency of margin of solvency of insurance group according to appendix 4 to the List, and also calculations of the minimum size of margin of solvency (equity) for members of insurance group concerning which regulatory legal acts of authorized body do not establish calculation of the standard rate (coefficient) of sufficiency of margin of solvency (equity), according to the Table of the assets of bank weighed on degree of credit risk of investments according to appendix 5 and the Table of the contingent and possible obligations of bank weighed on degree of credit risk according to appendix 6 to Normative values and techniques of calculations of prudential standard rates and other regulations, obligatory to observance, and limits of the size of the capital of bank for certain date, the approved resolution of Board of National Bank of the Republic of Kazakhstan of September 13, 2017 No. 170, registered in the Register of state registration of regulatory legal acts at No. 15886.";

state Item 7 in the following edition:

"7. If the term of submission of the report falls on output (festive) day, then the working day following it is considered date of submission of the report.

Identification of errors of intra uniform and interuniform control by authorized body is the basis for return of the reporting to the insurance (reinsurance) organization and (or) the parent organization of insurance group for correction.";

To state the report on accomplishment of prudential standard rates by the insurance (reinsurance) organization on form according to appendix 1 to the List, the forms, terms of submission of the reporting on accomplishment of prudential standard rates by the insurance (reinsurance) organizations and insurance groups approved by the specified resolution in edition according to appendix 1 to this resolution;

To state the report on calculation of reserve of unexpected risks on form according to appendix 2 to the List, the forms, terms of submission of the reporting on accomplishment of prudential standard rates by the insurance (reinsurance) organizations and insurance groups approved by the specified resolution in edition according to appendix 2 to this resolution;

To state the report on calculation of stabilization reserve on form according to appendix 3 to the List, the forms, terms of submission of the reporting on accomplishment of prudential standard rates by the insurance (reinsurance) organizations and insurance groups approved by the specified resolution in edition according to appendix 3 to this resolution;

To state the report on accomplishment of the standard rate of sufficiency of margin of solvency of insurance group on form according to appendix 4 to the List, the forms, terms of submission of the reporting on accomplishment of prudential standard rates by the insurance (reinsurance) organizations and insurance groups approved by the specified resolution in edition according to appendix 4 to this resolution;

in Rules of submission of the reporting on accomplishment of the prudential standard rates by the insurance (reinsurance) organizations and insurance groups approved by the specified resolution:

5, 6 and 7 to state Items in the following edition:

"5. The insurance (reinsurance) organization daily performs monitoring of rating estimates on each security, the issuer, the reinsurance organization, bank of the second level, and also category of securities of Kazakhstan stock exchange joint-stock company (further - stock exchange). During the implementing of calculations and submission of reports rating assessment and category of securities of stock exchange as of the end of the accounting period is used.

6. Authorized body the reports containing mistakes, corrections and erasures are not accepted and are subject to return.

7. In case of identification of mistakes in the reports submitted in authorized body, the insurance (reinsurance) organization, the parent organization of insurance group provide error correction by implementation of the following events in the specified sequence:

correct the found errors in accounting systems of the insurance (reinsurance) organization, insurance group by implementation of retrospective adjustment in earlier submitted doubtful (incomplete) reports, for the period not earlier than 12 (twelve) months of date of detection of mistake;

send to authorized body the written notice with indication of the description of the revealed mistakes in earlier submitted doubtful (incomplete) reports;

consider the revealed mistakes in the reports which are earlier submitted in authorized body in case of their submission to authorized body on the next reporting date.

For the purposes of Rules the doubtful and (or) incomplete reporting the reports which provided as a result of error correction in the reports which are earlier provided to authorized body to violation of the prudential standard rates and (or) identification of the factors influencing deterioration in financial position of the insurance (reinsurance) organization and (or) insurance group, specified in the resolution of Board of National Bank of the Republic of Kazakhstan of April 27, 2018 to No. 75 "About establishment of the factors influencing deterioration in financial position of the insurance (reinsurance) organization and insurance group and also the approval of Rules of approval of the actions plan providing measures of early reaction, and the Technique of determination of the factors influencing deterioration in financial position of the insurance (reinsurance) organization (insurance group)", registered in the Register of state registration of regulatory legal acts at No. 16944 are recognized.

The insurance (reinsurance) organization, the parent organization of insurance group perform replacement of the doubtful (incomplete) reporting for the period not earlier than 12 (twelve) months of date of detection of mistake.";

in the List of the financial instruments (except for shares and shares in the authorized capital) acquired by the insurance (reinsurance) organizations, approved by the specified resolution:

third the subitem 3) of Item 1 to state the paragraph in the following edition:

"banks are affiliated resident banks of the Republic of Kazakhstan which parent nonresident bank of the Republic of Kazakhstan has long-term credit rating not below "And -" on the international scale of the Standard & Poor agency "s or the rating of similar level of one of other rating agencies;";

state Item 3 in the following edition:

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