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. 62

About approval of the Instruction for maintaining system of registers of security holders

According to the subitem 8) Item 2 of article 3 of the Law "About the Security Market", the subitem 10) of article 12 of the Law "About State Regulation and Supervision of the Financial Market and the Financial Organizations", 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 Instruction for maintaining system of registers of security holders according to appendix 1 to this resolution.

2. Recognize invalid the regulatory legal acts of the Republic of Kazakhstan specified in appendix 2 to this resolution.

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

4. To department of supervision of subjects of the security market and accumulation pension funds (Tokobayev N. T.):

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 state registration in the Ministry of Justice of the Republic of Kazakhstan to bring this resolution to the attention of the interested divisions of the Agency, Consolidation of legal entities "the Kazakhstan Association of Registry holders", the central depositary and the organizations performing activities for maintaining system of registers of security holders.

5. To department of the international relations and public relations of the Agency (Pernebayev T. Sh.) take measures to the publication of this resolution in printing editions of the Republic of Kazakhstan.

6. To impose control of execution of this resolution on the vice-chairman of the Agency Bakhmutova E. L.

Appendix 1

to 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. 62

Instruction for maintaining system of registers of security holders

This Instruction for maintaining system of registers of security holders (further - the Instruction) is developed according to the laws of the Republic of Kazakhstan of May 13, 2003 "About joint-stock companies", of July 2, 2003 "About the security market" (further - the Law on the security market) and of July 7, 2004 "About investment funds" and establishes the list of the documents constituting system of registers of security holders (further - system of registers), conditions of forming, storage and maintaining system of registers, statement form and content from personal account in system of registers, and also determines data which join in the list of the security holders having the right to participate in general shareholder meeting.

1. General provisions

1. In the Instruction the following concepts are used:

1) personal account of the issuer for accounting of the announced securities - the personal account opened for the issuer in system of registers on whom accounting of not placed issued securities is performed;

2) personal account of the security holder - the personal account opened for the registered person in system of registers who is the owner of securities (rights to claim according to obligations of the issuer on issued securities) and (or) the central depositary on which registration of transactions is performed and accounting is right on issued securities;

3) the register of security holders - set of information about the security holders for certain date allowing to identify these holders, and also type and quantity of the securities belonging to them (rights to claim according to obligations of the issuer on issued securities);

4) personal account of the general representative - the personal account opened for the general representative of participants of common property in system of registers on whom accounting of the securities (rights to claim according to obligations of the issuer on issued securities) belonging on the property right to several persons is performed;

5) personal account of the issuer for accounting of issued securities which circulation period expired - the personal account opened for the issuer in system of registers for accounting of issued securities which circulation period expired and the issuer obligations on their repayment, the holders of these securities charged off personal accounts are not fulfilled;

6) Islamic securities - Islamic rent certificates and Islamic participation certificates;

7) operational day - period of time during which the registrar performs acceptance, processing of orders, registration of transactions on personal accounts and information transactions;

8) personal account of mutual investment fund for accounting of the placed shares - personal account in system of registers on which accounting of quantity of the placed shares of mutual investment fund which are in circulation is performed;

9) personal account of the issuer for accounting of the redeemed securities - the personal account opened for the issuer in system of registers on whom accounting of the issued securities redeemed by the issuer in the secondary security market is performed;

10) transaction in system of registers - set of actions of the registrar of which introduction of the registers this in system or their change and (or) preparation and provision of information from system of registers is result;

11) the registrar - the specialized non-profit organization created in form of business of joint-stock company which more than fifty percent of voting shares belong to National Bank of the Republic of Kazakhstan, the performing activities for maintaining system of registers of security holders;

12) authorized body - Committee on control and supervision of the financial market and financial organizations of National Bank of the Republic of Kazakhstan;

13) personal account of the issuer for accounting of the placed issued securities unclaimed by their holders, - the personal account opened for the issuer in system of registers for accounting of the placed issued securities paid by the holder (holders) but not enlisted on its front (front) the account (account) in connection with non-presentation by the holder (holders) corresponding (corresponding) the order (orders);

14) internal control - set of the procedures performed by bodies and authorized employees of registrar, aimed at providing efficiency of activities of the registrar, its divisions and workers, provision of the authentic reporting on results of activities of the registrar, observance of the legislation of the Republic of Kazakhstan by the registrar and internal documents of the registrar and also timely informing bodies and leading employees of the registrar on the risks inherent in activities of the registrar;

15) personal account of the issuer for accounting of the redeemed rights to claim according to obligations of the issuer on issued securities - the personal account opened for the issuer in system of registers for accounting of the rights to claim redeemed by the issuer in the secondary security market according to its obligations on issued securities which circulation period expired and the issuer obligations on their repayment are not fulfilled;

16) rights to claim according to obligations of the issuer on issued securities - rights to claim according to obligations of the issuer on issued securities which circulation period expired and the issuer does not fulfill obligations on their repayment.

1-1. The registrar exercises internal control according to the internal documents approved by governing body of the registrar, determining:

1) object of internal control;

2) requirements to the employees of registrar exercising internal control;

3) the procedures of internal control performed by officials and employees of registrar, terms and procedure for their carrying out;

4) procedure and terms of informing the registrar by the workers exercising internal control, bodies of registrar about results of internal control.

1-2. The governing body of the registrar provides creation of service of internal audit and creates conditions for execution of internal audit of the obligations by service in the field of internal audit.

Concerning activities of service of internal audit are determined by the internal documents of the registrar approved by its governing body:

1) structure of service of internal audit, its function, obligation and power;

2) requirements to the workers performing internal audit;

3) object of internal audit;

4) scale and frequency of conducting checks by service of internal audit;

5) requirements to scheduling of carrying out internal audit;

6) terms and forms of representation by service of internal audit of reports on results of checks to governing body of the registrar.

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