of December 31, 2019 No. 266
About approval of Rules of application of measures of supervising reaction to 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 and legal entities whose exclusive activities is collection of banknotes, coins and values
According to the subitem 18) "About National Bank of the Republic of Kazakhstan" the Board of National Bank of the Republic of Kazakhstan DECIDES: parts three of article 15 of the Law of the Republic of Kazakhstan
2. To provide to department of cash circulation 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 Galiyeva D. T.
5. This resolution is subject to official publication and becomes effective since January 1, 2020.
Chairman of National Bank
E.Dosayev
Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of December 31, 2019 No. 266
1. These rules of application of measures of supervising reaction to 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 and legal entities whose exclusive activities is collection of banknotes of coins and values, (further - Rules) are developed according to the Administrative procedural Procedure Code of the Republic of Kazakhstan (further - APPK), the laws of the Republic of Kazakhstan "About National Bank of the Republic of Kazakhstan" (further - the Law on National Bank), "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks and banking activity), "About currency control and currency exchange control" (further - the Law on currency control and currency exchange control) also determine procedure for application by National Bank of the Republic of Kazakhstan (further - National Bank) measures of supervising reaction to the legal entities performing activities only through exchange points based on the license of National Bank for exchange transactions with cash foreign currency and legal entities whose exclusive activities is collection of banknotes, coins and values.
2. The measures of supervising reaction determined by subitems 1) and 2) of item 4 of article 45-1 of the Law on banks and banking activity are applied according to Item 4-1 of article 45-1 of the Law on banks and banking activity, the subitem 2) of Item 2 of article 22 of the Law on currency control and currency exchange control.
3. The National Bank applies to persons specified in Item 1 of Rules, the following measures of supervising reaction:
1) referral measures of supervising reaction;
2) measures for improvement of financial condition and (or) risk minimization.
4. In case of determination of feasibility of application of measures of supervising reaction and the choice of measure of supervising reaction factors, stipulated in Item 3 articles 45-1 of the Law on banks and banking activity are considered.
5. The National Bank records the applied measures of supervising reaction and places information on the applied measures of supervising reaction (except referral measures of supervising reaction) on the official Internet resource in the Kazakh and Russian languages.
5-1. The National Bank according to article 66 APPK sends to 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 and legal entities whose exclusive activities is collection of banknotes, coins and values, the provisional solution about application of measure of supervising reaction which is drawn up in the form of the project of measure of supervising reaction with the notification on the place and time of carrying out hearing for provision of opportunity to express the line item to the provisional solution by it.
The provisional solution about application of measure of supervising reaction and the notification on the place and time of carrying out hearing go at least in 3 (three) working days prior to decision making about application of measure of supervising reaction.
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 and legal entities whose exclusive activities is collection of banknotes, coins and values provide or state objection to the provisional solution about application of measure of supervising reaction in time, established by part 3 of article 73 APPK.
5-2. According to article 96 APPK submission of the claim does not stop execution of the applied measures of supervising reaction (except referral measures of supervising reaction).
6. No. 19 is excluded according to the Resolution of Board of National Bank of the Republic of Kazakhstan of 22.02.2021
7. The National Bank applies referral measures of supervising reaction to persons specified in Item 1 of Rules, in the cases specified in Item 1 of article 45-2 of the Law on banks and banking activity, the subitem 2) of Item 2 of article 22 of the Law on currency control and currency exchange control.
8. The referral measure of supervising reaction is drawn up by the letter of National Bank according to requirements, stipulated in Clause 80 APPK, and contains the bases of application of this measure and the notification on the revealed shortcomings, risks or violations and (or) recommendations about elimination of the revealed shortcomings, risks or violations, and (or) the warning of possibility of application of other measures of supervising reaction in case of repeated identification by National Bank of shortcomings, risks or violations, and also failure to carry out of referral measures of supervising reaction.
9. The National Bank sends referral measure of supervising reaction to the person specified in Item 1 of Rules, and if necessary, determined by National Bank, to separate governing bodies of person specified in Item 1 of Rules.
10. The National Bank for the purpose of remedial action, risks or violations applies measures for improvement of financial condition and (or) risk minimization to persons specified in Item 1 of Rules.
11. Measures for improvement of financial condition and (or) risk minimization are applied in the form of the written instruction or the written agreement.
12. The National Bank specifies in the written instruction acceptance of measures, obligatory to execution, stipulated in Item 1 article 46 of the Law on banks and banking activity, and (or) need of representation in time, established in the written instruction, the actions plan on their execution (further - the actions plan).
13. The actions plan contains the description of shortcomings, risks or violations, the reasons which led to their origin, the list of the planned actions, terms of their implementation and also ranking leading employees for execution of each Item of the actions plan.
14. The National Bank considers the actions plan provided by person to whom measures for improvement of financial condition and (or) risk minimization are applied, in time, not exceeding 10 (ten) working days after date of its receipt in National Bank. In case of availability according to the provided actions plan of notes of National Bank and (or) if the amount of the planned actions exceeds 20 (twenty) actions, the term of consideration of the actions plan is prolonged only once no more than for 10 (ten) working days.
In case of availability of notes of National Bank to the actions plan provided by person to whom measures for improvement of financial condition and (or) risk minimization are applied National Bank directs on it written notes and (or) carries out joint discussions for the purpose of completion of the actions plan. At the same time person to whom measures for improvement of financial condition and (or) risk minimization are applied represents the modifed actions plan taking into account notes of National Bank to the terms specified in the letter of National Bank or in case of disagreement with such notes represents the reasons.
The National Bank in writing approves or does not approve the actions plan provided by person to whom measures for improvement of financial condition and (or) risk minimization are applied.
In case of approval by National Bank of the provided actions plan person to whom measures for improvement of financial condition and (or) risk minimization are applied starts its realization.
In case of disapproval of the actions plan the National Bank applies to person to whom measures for improvement of financial condition and (or) risk minimization, measure for improvement of financial condition and (or) risk minimization with indication of measures, stipulated in Item 1 article 46 of the Law on banks and banking activity are applied.
15. The National Bank concludes with person specified in Item 1 of Rules, the written agreement about execution of measures, stipulated in Item 1 article 46 of the Law on banks and banking activity.
16. The written agreement provides the agreement on execution of the measures specified in Item 1 of article 46 of the Law on banks and banking activity, terms of elimination of the revealed shortcomings, risks or violations and (or) the list of restrictions which are assumed by person to whom measures for improvement of financial condition and (or) risk minimization are applied.
The written agreement is subject to obligatory signing by person to which measures for improvement of financial condition and (or) risk minimization are applied. After signing of the written agreement person to whom measures for improvement of financial condition and (or) risk minimization are applied assumes liabilities on accomplishment of its conditions in full and in the terms established in it.
17. The written agreement is constituted in 4 (four) copies (on 2 (two) copies in the Kazakh and Russian languages) having identical legal force and goes with the cover letter to person to whom measures for improvement of financial condition and (or) risk minimization are applied.
Person to whom measures for improvement of financial condition and (or) risk minimization are applied returns in National Bank signed 2 (two) copies (on 1 (one) copy in the Kazakh and Russian languages) the written agreement within 5 (five) working days after date of its obtaining.
18. Person to whom measures for improvement of financial condition and (or) risk minimization are applied notifies National Bank about:
execution of the measures specified in the written instruction, the written agreement in the terms provided by these documents;
execution of the actions provided in the actions plan no later than 5 (five) working days after the date of their implementation provided in the actions plan.
19. Execution by person to which measures for improvement of financial condition and (or) the risk minimization, measures and actions provided in the written instruction and (or) the actions plan, the written agreement are applied begins for:
1) the written instruction - from the date of receipt of the written instruction by person to which measures for improvement of financial condition and (or) risk minimization are applied;
2) the actions plan - from the date of receipt of the actions plan approved by National Bank by person to which measures for improvement of financial condition and (or) risk minimization are applied;
3) the written agreement - from signature date of the written agreement person to whom measures for improvement of financial condition and (or) risk minimization are applied.
If the completion dates of measures and (or) the planned actions established in the written instruction and (or) the actions plan, the written agreement exceed 1 (one) month, person to whom measures for improvement of financial condition and (or) risk minimization are applied, monthly in writing notifies National Bank on step-by-step execution of the measures and (or) actions provided in the written instruction and (or) the actions plan, the written agreement with application of copies of supporting documents.
20. In case of impossibility of performance of the measures and (or) actions provided in the written instruction and (or) the actions plan, the written agreement in the terms established by these documents for the reasons independent from the face to which measures for improvement of financial condition and (or) risk minimization are applied this person no later than the completion date of measures and (or) actions established by these documents represents to National Bank the petition for prolongation of completion date of the measures and (or) actions provided in the written instruction and (or) the actions plan, the written agreement (further - the petition), the containing reasons for need of prolongation of term.
The National Bank sends results of consideration of the petition to the person to whom measures for improvement of financial condition and (or) risk minimization are applied, in time, not exceeding 10 (ten) working days after date of its receipt in National Bank.
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