RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of September 13, 2019 No. 155

About introduction of amendments to the resolution of Board of National Bank of the Republic of Kazakhstan of July 26, 2013 No. 195 "About approval of the Accounting standard "Accounting and disclosure of information on transactions on pension assets"

According to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan", of February 28, 2007 "About financial accounting and the financial reporting", of June 21, 2013 "About provision of pensions in the Republic of Kazakhstan" and 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 July 26, 2013 No. 195 "About approval of the Accounting standard "Accounting and disclosure of information on transactions on pension assets" (it is registered in the Register of state registration of regulatory legal acts at No. 8765, it is published on October 31, 2013 in the Yuridicheskaya Gazeta newspaper No. 163 (2538)) the following changes:

in the Accounting standard "Accounting and disclosure of information on transactions on pension assets" approved by the specified resolution:

to state heading of paragraph 6 of Chapter 3 in the following edition:

"Paragraph 6. Derecognition and recovery of financial assets";

state Item 23 in the following edition:

"23. Receipts of cash flows in fund for financial asset after derecognition of this financial asset by fund are subject to recognition in financial accounting of fund as the income.

If the financial asset was derecognized at the expense of reserves (provisions) on covering of possible losses from impairment of financial asset, receipt of money on this financial asset belongs on the income from recovery of reserves (provisions) on covering of possible losses from impairment of financial asset.

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