RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of June 24, 2021 No. 2021-P-14/34-4-(PS)

About introduction of amendments to the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About Licensing of Activities of Payment Institutes and Operators of Payment Systems" of September 2, 2019 No. 2019-P-14/46-1-(PS)

According to articles 20 and 68   of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity" and article 26 of the Law of the Kyrgyz Republic "About payment system of the Kyrgyz Republic" the Board of National Bank of the Kyrgyz Republic decides:

1. Make changes to the resolution of Board of National Bank of the Kyrgyz Republic "About approval  of the Provision "About Licensing of Activities of Payment Institutes and Operators of Payment Systems" of September 2, 2019 No. 2019-P-14/46-1-(PS) (are applied).

2. To legal management:

- publish this resolution on the official website of National Bank of the Kyrgyz Republic;

- after official publication to send this resolution to the Ministry of Justice of the Kyrgyz Republic for inclusion in the State register of regulatory legal acts of the Kyrgyz Republic.

3. This resolution becomes effective after fifteen days from the date of official publication.

4. To management of payment systems to bring this resolution to the attention of payment institutes and operators of payment systems and OYuL "Association of Operators of Payment Systems of the Kyrgyz Republic".

5. To department of development of state language and document flow to bring this resolution to the attention of the relevant structural divisions, regional managements and representative office of National Bank of the Kyrgyz Republic in Batken Province.

6. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising management of payment systems.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of June 24, 2021 No. 2021-P-14/34-4-(PS)

Changes in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About Licensing of Activities of Payment Institutes and Operators of Payment Systems" of September 2, 2019 No. 2019-P-14/46-1-PS

Bring in the resolution of Board of National Bank of the Kyrgyz Republic "About approval  of the Provision "About Licensing of Activities of Payment Institutes and Operators of Payment Systems" of September 2, 2019 No. 2019-P-14/46-1-(PS) the following changes:

in  the Provision "About Licensing of Activities of Payment Institutes and Operators of Payment Systems" approved by the above-stated resolution:

-  Add provision with Item 2-1 of the following content:

"2-1. The operator of payment system can combine the activities only with activities of payment institute.

The payment institute can combine the activities only with activities of the operator of payment system.";

- state Item 5 in the following edition:

"5. Licensees shall within 15 (fifteen) working days from the date of decision making of management by the relevant authorized body notify National Bank:

- about change of the size of the authorized capital;

- about liquidation or reorganization;

- about change of structure of executive, supervisory governing bodies (the board of directors - in the presence);

- about change of legal and/or actual addresses of the organization;

- about opening of representations and/or branches in areas or outside the Kyrgyz Republic.

Licensees also shall notify National Bank on change of list of founders (shareholders/participants) and/or the sizes of their shares / shares in the organization owing to their acquisition / sale / transfer in any manner, and also on transfer of shares/share of founders (shareholders/participants) of the organization to trust management to the third parties. The notification shall be sent to National Bank within 15 (fifteen) working days from the date of adoption by founders (shareholders/participants) of the corresponding solutions / conclusions of agreements/agreements and other bases according to the legislation of the Kyrgyz Republic.

Notifications shall go in writing with appendix of the copies of relevant decisions of authorized bodies of management certified by the licensee (or originals of statements from such decisions) and other supporting documents including provided by this Provision.

The National Bank has the right to request the additional documents / data concerning the accepted changes.";

- in Item 7:

the fourth to state the paragraph in the following edition:

"Officials - members of the supervisory governing body (The board of directors - in the presence), members of executive body (the head, the technical director, the chief accountant) and/or persons equated to them on the functional obligations, performing management of the current activities of payment institute and/or the operator of payment system.";

in paragraph five:

state subitem 1 in the following edition:

"1) officials of payment institute and/or operator of payment system and their close relatives;";

state subitem 3 in the following edition:

"3) members of the supervisory and executive governing bodies of the legal entities specified in the subitem 2 presents of determination and their close relatives;";

in subitems 4 and 5 to replace the word "term" in different case forms with the word "determination" in the corresponding cases;

- in Item 10:

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