RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 31, 2019 No. 265

About modification and amendments in the resolution of Board of National Bank of the Republic of Kazakhstan of April 4, 2019 No. 49 "About approval of Rules of the organization of exchange transactions with cash foreign currency in the Republic of Kazakhstan"

According to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan", of March 19, 2010 "About the state statistics", of May 16, 2014 "About permissions and notifications", of July 2, 2018 "About currency control and currency exchange control" and of July 3, 2019 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning regulation and development of the financial market, microfinancial activities and the taxation" 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 April 4, 2019 No. 49 "About approval of Rules of the organization of exchange transactions with cash foreign currency in the Republic of Kazakhstan" (it is registered in the Register of state registration of regulatory legal acts at No. 18545, it is published on April 24, 2019 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan) the following changes and amendments:

state heading in the following edition:

"About approval of Rules of implementation of exchange transactions with cash foreign currency in the Republic of Kazakhstan";

state Item 1 in the following edition:

"1. Approve the enclosed Rules of implementation of exchange transactions with cash foreign currency in the Republic of Kazakhstan.";

in Rules of the organization of the exchange transactions with cash foreign currency in the Republic of Kazakhstan approved by the specified resolution:

state heading in the following edition:

"Rules of implementation of exchange transactions with cash foreign currency in the Republic of Kazakhstan";

state Items 1 and 2 in the following edition:

"1. These rules of implementation of exchange transactions with cash foreign currency in the Republic of Kazakhstan (further - Rules) are developed according to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan", of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks), of March 19, 2010 "About the state statistics", of May 16, 2014 "About permissions and notifications" (further - the Law on permissions), of July 2, 2018 "About currency control and currency exchange control" (further - the Law on currency control) and determine procedure for licensing of authorized organizations, including qualification requirements to them, notifications authorized bank about the beginning or the termination of activities of exchange points, requirements to activities for implementation of exchange transactions with cash foreign currency, operating conditions of exchange points and procedure for carrying out the transactions on purchase and (or) sale of the affined ingot gold issued by National Bank of the Republic of Kazakhstan (further - National Bank), and also forms and terms of representation by authorized banks and authorized organizations of reports.

2. In Rules the concepts applied in the values specified in the laws of the Republic of Kazakhstan of December 8, 2001 "About rail transport" of January 7, 2003 "About the electronic document and the digital signature" of April 12, 2004 "On regulation of trading activity", of January 12, 2007 "About gaming", of July 15, 2010 "About use of airspace of the Republic of Kazakhstan and activities of aircraft", of January 16, 2013 "About Frontier of the Republic of Kazakhstan", of April 15, 2013 "About the state services" (further - the Law on the state services), the Law on currency control are used.

In Rules also following concepts are used:

1) the automated exchange point - the electronic and mechanical device belonging to the legal entity having the right to the implementation of exchange transactions with cash foreign currency and allowing to perform without participation of his worker exchange transactions by cash deposit of money in this device and obtaining from it cash of the equivalent amount in other currency;

2) exchange transactions - the transactions on purchase, sale and exchange of cash foreign currency performed through exchange points and the automated exchange points;

3) operational cash desk of exchange point - specially equipped part of the room of exchange point intended for the cashier servicing clients when carrying out transactions with cash foreign currency, and also upon purchase and (or) sale of the affined investment gold in the certified measuring ingots conforming to the national standard of the Republic of Kazakhstan of ST of RK 2049-2010 "Gold bars measuring. Specifications", issued by National Bank of the Republic of Kazakhstan not earlier than 2017 (further - the affined ingot gold);

4) the hardware and software - the automated information system realizing functions of cash register providing accounting of exchange transactions, purchases and (or) sales of the affined ingot gold;

5) the valid license - the granted or renewed license for exchange transactions with cash foreign currency which is not suspended or is not stopped;

6) cash foreign currency - the banknotes which are in circulation, coins and treasury notes accepted by foreign states as legal means of payment;

7) the legal entity having the right to implementation of exchange transactions with cash foreign currency - the authorized organization or authorized bank having the right to implementation of exchange transactions with cash foreign currency according to the license of National Bank, authorized body granted by it on regulation, control and supervision of the financial market and the financial organizations or the laws of the Republic of Kazakhstan;

8) the valid appendix to the license - the issued or renewed appendix to the license for exchange transactions with cash foreign currency which is not suspended or is not stopped;

9) appendix to the license - the integral part of the license for exchange transactions with cash foreign currency containing data on the actual location of exchange point of authorized organization;

10) the electronic license and the electronic appendix to the license - the license for the exchange transactions with cash foreign currency and appendix to the license in electronic form which are drawn up and issued with use of information technologies, equivalent licenses and to appendix to the license on paper.";

state item 4 in the following edition:

"4. The legal entity having the right to implementation of exchange transactions with cash foreign currency before carrying out exchange transactions, purchase and (or) sale of the affined ingot gold takes measures for proper check of clients according to article 5 of the Law of the Republic of Kazakhstan of August 28, 2009 "About counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing" (further - the Law on PODFT).";

6, 7 and 8 to state Items in the following edition:

"6. Founders (participants) of authorized organization are physical and legal resident persons and nonresidents of the Republic of Kazakhstan.

Person cannot be the founder, the member (one of founders, participants) of authorized organization:

1) being the founder, the member (one of founders, participants) of authorized organization on which the decision on deprivation of the license for exchange transactions with cash foreign currency, before the expiration of 3 (three) years from the date of the relevant decision of territorial branch of National Bank was made;

Concerning which 2) there is judgment which took legal effect about application of criminal penalty in the form of deprivation of the right to hold leading employee position of the financial organization, bank and (or) insurance holding and to be the large member (large shareholder) of the financial organization.

7. The authorized capital of authorized organization is created in cash in full to the request of the legal entity for receipt of the license for exchange transactions with cash foreign currency and (or) appendices to the license.

8. The minimum size of the authorized capital of authorized organization constitutes:

1) 100 000 000 (hundred million) Kazakhstani tenge (further - tenge) for each exchange point (the automated exchange point) with the location in Nour-Sultan's city, the cities of republican value, the administrative centers of areas, the cities of regional value;

2) 50 000 000 (fifty million) tenges for each exchange point (the automated exchange point) with other location.";

state Item 10 in the following edition:

"10. In case of reference of the city to category of the city of republican, regional value or recognition of the city by the administrative center of area the authorized organization having exchange point in this city brings the size of the authorized capital into accord with the requirement established by the subitem 1) of Item 8 of Rules within six months from the date of reference of the city to category of the city of republican, regional value or recognition of the city by the administrative center of area.";

1) of Item 11 to state the subitem in the following edition:

"1) the organization of protection and the device of the room of exchange point are performed according to the requirements established in Rules of the organization of protection and the device of premises of banks of the second level, the National operator of mail, legal entities whose exclusive activities is collection of banknotes, coins and values, and the legal entities performing activities only through exchange points based on the license of National Bank of the Republic of Kazakhstan for exchange transactions with cash foreign currency, approved by National Bank according to the subitem 11) of part two of article 15 of the Law of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan";";

to state heading of Chapter 3 in the following edition:

"Chapter 3. Procedure for licensing of authorized organizations";

1) of Item 12 to state the subitem in the following edition:

"1) the electronic statement with cash foreign currency and appendices to the license in form agrees to receipt of the license for exchange transactions to Rules, electronic copies of the documents confirming the applicant's compliance to qualification requirements, stipulated in Item 13 Rules;";

1) and 2) of Item 13 to state subitems in the following edition:

"1) the electronic statement on receipt of the license for exchange transactions with cash foreign currency and appendices to the license in form according to appendix 1 to Rules (in the case provided in Item 12 of Rules), the electronic statement on receipt of appendix to the valid license on exchange transactions with cash foreign currency for in addition opened exchange point in form according to appendix 2 to Rules (in the case provided in Item 17 of Rules);

2) the electronic copy of the document of bank of the second level (including the statement about movement of money according to bank accounts of the client) confirming transfer on the bank account of authorized organization of money as fee in the authorized capital according to requirements of Item 8 of Rules issued not earlier than 30 (thirty) calendar days before date of the request for receipt of the license and (or) appendix to the license or the electronic copy of the financial reporting as of the first of filing of application on receipt of appendix to the valid license on exchange transactions with cash foreign currency for in addition opened exchange point in form according to appendix 2 to Rules which confirms compliance of the size of the authorized capital of authorized organization to the established requirements taking into account additional exchange point (in the case provided in Item 17 of Rules);";

state Item 14 in the following edition:

"14. The license for exchange transactions with cash foreign currency and appendix to the license for exchange transactions with cash foreign currency are issued by territorial branch of National Bank through the web portal of "the electronic government" in the Kazakh and Russian languages in forms according to appendices 3 and 4 to Rules, respectively, within 20 (twenty) working days from the date of submission of all documents. The refusal in licensing and (or) appendices to the license is made by territorial branch of National Bank through the web portal of "the electronic government" in cases, stipulated in Item the 6th article 12 of the Law on currency control.";

state Item 18 in the following edition:

"18. Survey of the room, the equipment intended for exchange point of authorized organization on compliance to the qualification requirements imposed to them is carried out by territorial branch of National Bank during the term provided for licensing for exchange transactions with cash foreign currency and (or) appendices to the license.";

in Item 19:

1) to state the subitem to part two in the following edition:

"1) in case of renewal of the valid license on exchange transactions with cash foreign currency;";

third to state part in the following edition:

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info