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. 45

About introduction of amendments to the resolution of Board of National Bank of the Republic of Kazakhstan of August 27, 2018 No. 191 "About approval of the minimum obligatory training program of actuaries, the list and requirements to international associations of actuaries, Requirements to content and procedure for provision of the obligatory actuarial conclusion, Rules of conducting testing, Requirements to confirmation of qualification of the actuary, Rules and terms of involvement of the independent actuary for check of activities of the actuary who is on the staff of the insurance (reinsurance) organization, the direction the independent actuary of results of check of reliability of the calculations which are carried out by the actuary who is on the staff of the insurance (reinsurance) organization, forms of the license for implementation of actuarial activities, the statement for licensing for implementation of actuarial activities and the information about the applicant on receipt of the license for implementation of actuarial activities"

According to the laws of the Republic of Kazakhstan of December 18, 2000 "About insurance activity", of July 4, 2003 "About state regulation, control and supervision of the financial market and the financial organizations", of April 15, 2013 "About the state services", of May 16, 2014 "About permissions and notifications" 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 National Bank of the Republic of Kazakhstan of August 27, 2018 No. 191 "About approval of the minimum obligatory training program of actuaries, the list and requirements to international associations of actuaries, Requirements to content and procedure for provision of the obligatory actuarial conclusion, Rules of conducting testing, Requirements to confirmation of qualification of the actuary, Rules and terms of involvement of the independent actuary for check of activities of the actuary who is on the staff of the insurance (reinsurance) organization, the direction the independent actuary of results of check of reliability of the calculations which are carried out by the actuary who is on the staff of the insurance (reinsurance) organization, forms of the license for implementation of actuarial activities statements for licensing for implementation of actuarial activities and the information about the applicant on receipt of the license for implementation of actuarial activities" (it is registered in the Register of state registration of regulatory legal acts at No. 17618, it is published on November 7, 2018 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan) the following changes:

state heading in the following edition:

"About approval of the minimum obligatory training program of actuaries, the list and requirements to international associations of actuaries, Requirements to content and procedure for provision of the obligatory actuarial conclusion, Requirements to confirmation of qualification of the actuary, Rules and terms of involvement of the independent actuary for check of activities of the actuary who is on the staff of the insurance (reinsurance) organization, the direction the independent actuary of results of check of reliability of the calculations which are carried out by the actuary who is on the staff of the insurance (reinsurance) organization, Rules of licensing for the right of implementation of actuarial activities in the insurance market, Rules of conducting testing";

state Item 1 in the following edition:

"1. Approve:

1) the Minimum obligatory training program of actuaries according to appendix 1 to this resolution;

2) the List and requirements to international associations of actuaries according to appendix 2 to this resolution;

3) Requirements to content and procedure for provision of the obligatory actuarial conclusion according to appendix 3 to this resolution;

4) Requirements to confirmation of qualification of the actuary according to appendix 4 to this resolution;

5) Rules and terms of involvement of the independent actuary for check of activities of the actuary who is on the staff of the insurance (reinsurance) organization, the direction the independent actuary of results of check of reliability of the calculations which are carried out by the actuary who is on the staff of the insurance (reinsurance) organization according to appendix 5 to this resolution;

6) Rules of licensing for the right of implementation of actuarial activities in the insurance market according to appendix 6 to this resolution;

7) Rules of conducting testing according to appendix 7 to this resolution.";

1, of 2, of 3, of 4, of 5, of 6, 7 to be reworded as follows appendices according to appendices 1, of 2, of 3, of 4, of 5, of 6, 7 to this resolution;

8, 9 to exclude appendices.

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 4 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. 45

Minimum obligatory training program of actuaries

1. The minimum obligatory training program of actuaries consists of six following subjects:

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