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 February 25, 2006 No. 51

About approval of the Instruction about measures for maintenance by the large member of the insurance (reinsurance) organization owning (having the right to vote) in twenty five and more percent of voting shares of the insurance (reinsurance) organization, prudential standard rates of the insurance (reinsurance) organization

For the purpose of implementation of the Law of the Republic of Kazakhstan "About insurance activity" the Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations (further - the Agency) DECIDES:

1. Approve the enclosed Instruction about measures for maintenance by the large member of the insurance (reinsurance) organization owning (having the right to vote) by twenty five and more percent of voting shares of the insurance (reinsurance) organization of prudential standard rates of the insurance (reinsurance) organization.

2. This resolution becomes effective after fourteen days from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan.

3. To department of supervision of subjects of the insurance market and other financial organizations (Karimullin A. A.):

1) together with Legal department (Baysynov M. B.) to take measures to state registration in the Ministry of Justice of the Republic of Kazakhstan of this resolution;

2) in ten-day time from the date of enforcement of this resolution to bring it to the attention of the interested divisions of the Agency, Consolidation of legal entities in the form of Association of Financiers of Kazakhstan association, the insurance (reinsurance) organizations.

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