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

of February 14, 2022 No. 2

About modification of some regulatory legal acts of the Republic of Kazakhstan concerning rendering the state services in the insurance market and approvals of leading employees in the financial market

Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Approve the List of regulatory legal acts of the Republic of Kazakhstan concerning rendering the state services in the insurance market and approvals of leading employees in the financial market to which changes, according to appendix to this resolution are made.

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 action provided by the subitem 2) of this Item.

3. 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.

4. This resolution becomes effective after sixty calendar days after day of its first official publication.

Appendix

to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of February 14, 2022 No. 2

The list of regulatory legal acts of the Republic of Kazakhstan concerning rendering the state services in the insurance market and approvals of leading employees in the financial market to which changes are made

1. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of February 24, 2012 No. 54 "About approval of Rules of issue of permission to voluntary reorganization of the insurance (reinsurance) organization (insurance holding) or refusal in issue of the specified permission" (it is registered in the Register of state registration of regulatory legal acts at No. 7542) the following changes:

in the Rules of issue of permission to voluntary reorganization of the insurance (reinsurance) organization (insurance holding) or refusal in issue of the specified permission approved by the specified resolution:

state Item 1 in the following edition:

"1. These rules of issue of permission to voluntary reorganization of the insurance (reinsurance) organization (insurance holding) or refusal in issue of the specified permission (further - Rules) are developed according to Articles 66 and 73 of the Administrative procedural Procedure Code of the Republic of Kazakhstan, article 62 of the Law of the Republic of Kazakhstan "About insurance activity" (further - the Law), the laws of the Republic of Kazakhstan "About the state services", "About permissions and notifications" and "About the electronic document and the digital signature" and determine procedure for issue by authorized body by regulation, control and supervision of the financial market and the financial organizations (further - authorized body) permissions to voluntary reorganization of the insurance (reinsurance) organization (insurance holding) or refusal in issue of the specified permission.";

state Item 8 in the following edition:

"8. The employee of authorized body authorized on acceptance and registration of correspondence in day of receipt of the petition performs its acceptance, registration and the direction on execution in the division of authorized body responsible for rendering the state service (further - responsible division). In case of the address of the applicant after the termination of working hours, in days off and holidays according to the Labor code of the Republic of Kazakhstan and the Law of the Republic of Kazakhstan "About holidays in the Republic of Kazakhstan", documents acceptance is performed the next working afternoon.

The employee of responsible division within 5 (five) working days from the date of registration of the petition checks completeness of the submitted documents.

In case of factual determination of incompleteness and (or) expiration of the submitted documents, the employee of responsible division within the specified term prepares and directs to the applicant motivated refusal in further review of the petition.

In case of factual determination of completeness of the submitted documents the employee of responsible division during the term of rendering the state service considers documents regarding their compliance to requirements of Items 3, of 4 Rules and Item 8 of the Standard of the state service "Issue of Permission to Voluntary Reorganization of the Insurance (Reinsurance) Organization and Insurance Holding" according to appendix 2 to Rules.

In case of identification of the bases for refusal in rendering the state service the authorized body notifies the applicant on the provisional solution about refusal in rendering the state service, and also time and the place (method) of carrying out hearing for provision to the applicant of opportunity to express line item according to the provisional solution.

The notification on hearing goes at least in 3 (three) working days prior to completion of term of rendering the state service. Hearing is carried out no later than 2 (two) working days from the date of the notification.

By results of consideration of the documents submitted by the applicant of hearing the responsible division prepares and submits for consideration of Board of authorized body the draft of the resolution on issue (about refusal in issue) permissions to carrying out voluntary reorganization of the insurance (reinsurance) organization (insurance holding) (further - result of rendering the state service).

The employee of responsible division within 4 (four) working days after adoption by authorized body of the decision on issue (about refusal in issue) permissions to voluntary reorganization of the insurance (reinsurance) organization and insurance holding directs result of the rendering the state service to the applicant in "personal account" in electronic form certified by the digital signature of the authorized person of authorized body.";

state Item 9 in the following edition:

"9. Consideration of the claim concerning rendering the state services is made by the head of authorized body, authorized body by assessment and control of quality of rendering the state services (further - the body considering the claim).

The claim is submitted to the service provider, the official whose decision, action (failure to act) are appealed.

The service provider, the official, whose decision, action (failure to act) are appealed, no later than 3 (three) working days from the date of receipt of the claim send it to the body considering the claim.

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