THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND DEVELOPMENT OF THE FINANCIAL MARKET

of March 30, 2020 No. 47

About modification and amendments 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 April 30, 2007 No. 122 "About approval of Rules of issue of permission to creation of the insurance (reinsurance) organization, and also licensing for the right of implementation of insurance (reinsurance) activity and activities of insurance broker"

For the purpose of implementation of the Law of the Republic of Kazakhstan of November 25, 2019 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning rendering the state services" Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

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 April 30, 2007 No. 122 "About approval of Rules of issue of permission to creation of the insurance (reinsurance) organization, and also licensing for the right of implementation of insurance (reinsurance) activity and activities of insurance broker" (it is registered in the Register of state registration of regulatory legal acts at No. 4731) the following changes and amendment:

state heading in the following edition:

"About approval of Rules and conditions of issue of permission to creation of the insurance (reinsurance) organization, and also requirements to contents of the documents submitted for receipt of permission to creation of the insurance (reinsurance) organization, Rules of licensing of insurance (reinsurance) activity and activities of insurance broker, and also requirements to contents of the documents submitted for receipt of the license";

state Item 1 in the following edition:

"1. Approve:

1) Rules and conditions of issue of permission to creation of the insurance (reinsurance) organization, and also the requirement to contents of the documents submitted for receipt of permission to creation of the insurance (reinsurance) organization according to appendix 1 to this resolution;

2) Rules of licensing of insurance (reinsurance) activity and activities of insurance broker, and also requirements to contents of the documents submitted for receipt of the license according to appendix 2 to this resolution.";

The rules of issue of permission to creation of the insurance (reinsurance) organization, and also licensing for the right of implementation of insurance (reinsurance) activity and activities of insurance broker approved by the specified resolution to be reworded as follows according to appendix 1 to this resolution;

add with appendix 2 in edition according to appendix 2 to this resolution.

2. To provide to department of the insurance market and actuarial calculations 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 the Agency of the Republic of Kazakhstan on regulation and development of the financial market 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 management of the international relations and external communications 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 supervising vice-chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market.

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

Appendix 1

to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of March 30, 2020 No. 47

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 April 30, 2007 No. 122

Rules and conditions of issue of permission to creation of the insurance (reinsurance) organization, and also the requirement to contents of the documents submitted for receipt of permission to creation of the insurance (reinsurance) organization

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