RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of October 7, 2019 No. 165

About modification and amendments in some regulatory legal acts of the Republic of Kazakhstan concerning regulation of the security market

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 the security market to which changes and additions, according to appendix to this resolution are made.

2. To provide to development department of the non-bank organizations in the procedure established by the legislation of the Republic of Kazakhstan:

1) together with Legal department state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication;

3) within ten working days after state registration of this resolution submission to Legal department of data on execution of the actions provided by the subitem 2) of this Item and Item 3 of this resolution.

3. To department of external communications - the press service of National Bank to 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 Birtanov E. A.

5. This resolution becomes effective after ten calendar days after day of its first official publication.

Appendix

to the Resolution of Board of National Bank of the Republic of Kazakhstan of October 7, 2019 No. 165

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

1. Bring in 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 October 29, 2008 No. 170 "About approval of Rules of implementation of organization activity of trade with securities and other financial instruments" (it is registered in the Register of state registration of regulatory legal acts at No. 5406, it is published on January 14, 2009 in the Yuridicheskaya Gazeta newspaper No. 5 (1602) the following changes and amendments:

in the Rules of implementation of organization activity of trade with securities and other financial instruments approved by the specified resolution:

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

"4) system of stock exchange for control of target placement (control system) - the software and hardware complex of stock exchange allowing persons connected to it:

determine limits for the broker of the representative to conclude bargains on behalf of the client of the connected person;

confirm the bargains concluded by the authorized broker on behalf of the client of custodian if calculation for such transactions is perfromed in real time and without use of services of the clearing organization;

accept the bargains concluded by the broker on the order of the client of custodian on calculations;";

2) of Item 7 to state the subitem in the following edition:

"2) timely and completely other obligations according to the legislation of the Republic of Kazakhstan on the security market and internal documents of stock exchange fulfill the obligations to the settlement organizations of stock exchange by delivery of assets for execution of the bargains with financial instruments concluded by them in the organized market of securities, and also;";

exclude Item 35;

add with Item 36-1 of the following content:

"36-1. The transactions specified 2) of Item 36 of Rules consist in the subitem with use of services of the central partner and (or) without use of services of the central partner.";

to state heading of Chapter 10 in the following edition:

"Chapter 10. System of stock exchange for control of target placement";

52, 53 and 54 to state Items in the following edition:

"52. Internal documents of stock exchange determine the procedure and procedures allowing custodian to control target placement of assets of the single accumulation pension fund, Voluntary accumulation pension fund, investment fund, special finance company of the Republic of Kazakhstan.

53. The custodians servicing the single accumulation pension fund, the Voluntary accumulation pension funds, investment funds, special finance companies of the Republic of Kazakhstan exercise control of target placement (use) of assets of the specified clients according to Item 2 of article 73 of the Law of the Republic of Kazakhstan of July 2, 2003 "About the security market".

54. The control system of stock exchange for the purpose of target placement of assets allows custodian to use one of the following mechanisms:

1) confirmation of the bargains concluded by the broker on behalf of the client of custodian if calculation for such transactions is perfromed in real time and without use of services of the clearing organization;

2) acceptance on calculations of the bargains concluded by the broker on the order of the client of custodian;

3) determination of limits for the broker, the representative to conclude bargains on behalf of the client of custodian.";

add with Item 54-1 of the following content:

"54-1. The transaction with financial instruments which were not confirmed with custodian or are not accepted by it on calculations, are performed at the expense of own assets of the broker who concluded it according to the procedure and on the conditions established by the civil legislation of the Republic of Kazakhstan and internal documents of stock exchange.";

to state heading of Chapter 11 in the following edition:

"Chapter 11. Obligation fulfillment according to transactions with financial instruments";

state Items 55 and 56 in the following edition:

"55. The procedure for obligation fulfillment is determined by the bargains with financial instruments concluded in trade system of stock exchange by its internal documents which contain, in addition to other possible conditions, the following conditions on transactions with financial instruments:

1) registration of transactions with financial instruments (registration of transition of the property right to financial instruments) is performed in system of accounting of the central depositary according to the procedure, the established legislation of the Republic of Kazakhstan on the security market and the set of rules of the central depositary;

2) obligation fulfillment according to transactions with financial instruments is performed by the principle "delivery against payment" by one of the following methods:

in real time, based on each separate transaction without carrying out offset of requirements and obligations for other transactions of members of stock exchange according to the procedure of priority of their registration in trade system;

following the results of the biddings, based on the net line items (net - requirements and (or) net - obligations) determined by results of implementation of offset of requirements and obligations on the bargains which are earlier concluded by the certain member of stock exchange, and subject to execution in the present day;

with use of services of the central partner and following the results of the biddings, based on the net line items determined by results of implementation of offset of requirements and obligations on the bargains which are earlier concluded by the certain member of stock exchange, and subject to execution in the present day;

3) obligation fulfillment according to transactions of purchase and sale of financial instruments is performed by other principles, methods and methods applied by the clearing organization (the central partner) servicing (servicing) stock exchange.

56. If the bidder has no personal account in the central depositary, execution of the security transactions concluded by it is made on the sub-account of this bidder opened within personal account of the depositor of the central depositary.".

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