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. 5

About modification of some regulatory legal acts of the Republic of Kazakhstan concerning regulation of activities of subjects of the security 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 regulation of activities of subjects of the security market to which changes are made, according to appendix to this resolution (further - the List).

2. To provide to department of methodology and prudential regulation of the financial organizations 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 ten 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. 5

The list of regulatory legal acts of the Republic of Kazakhstan concerning regulation of activities of subjects of the security market to which changes are made

1. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of August 27, 2013 No. 236 "About approval of the List of prudential standard rates, their normative values and techniques of calculations for the Voluntary accumulation pension funds" (it is registered in the Register of state registration of regulatory legal acts at No. 8794) the following changes:

in the List of prudential standard rates, their normative values and technique of calculations for the Voluntary accumulation pension funds approved by the specified resolution:

state preamble in the following edition:

"This List of prudential standard rates, their normative values and technique of calculations (further - the List) are developed for the Voluntary accumulation pension funds according to Item 7 of article 41 of the Law of the Republic of Kazakhstan "About provision of pensions in the Republic of Kazakhstan" (further - the Law on provision of pensions) and establish prudential standard rates, their normative values, technique of calculations for the Voluntary accumulation pension funds (further - Fund) which are attracting voluntary pension contributions and not exercising control of pension assets of the single accumulation pension fund.

Calculation for other prudential standard rates which are not specified in the List for the organizations combining types of professional activity in the security market is established by the resolution of Board of National Bank of the Republic of Kazakhstan of April 27, 2018 No. 80 "About establishment of types of prudential standard rates for the organizations performing broker and (or) dealer activities in the security market, approval of rules and method of calculation of values of the prudential standard rates obligatory to observance by the organizations performing broker and (or) dealer activities in the security market", registered in the Register of state registration of regulatory legal acts of the Republic of Kazakhstan at No. 17005.

The regulations provided by the List regarding affiliates of Fund are not applied to the legal entities and their affiliates who are affiliated with Fund as a result of direct (on banks - indirect) ownerships of 25 (twenty five) and more percent of voting shares of the specified organizations by joint-stock company "National welfare fund "Samruk-Kazyna".

Are part of prudential standard rates:

sufficiency of equity;

investment limits.";

state Items 1 and 2 in the following edition:

"1. For the purposes of the List in addition to rating estimates of the Standard & Poor agency "s (Standard энд Purs) authorized body on regulation, control and supervision of the financial market and the financial organizations (further - authorized body) are also recognized rating estimates of the Moody agencies" s Investors Service and Fitch (Mudis Investors Service and Features) (further - other rating agencies) established by the resolution of Board of National Bank of the Republic of Kazakhstan of December 24, 2012 No. 385 "About establishment of the minimum rating for legal entities and the countries which need of availability is required according to the legislation of the Republic of Kazakhstan regulating activities of the financial organizations, branches of nonresident banks of the Republic of Kazakhstan, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan, the list of the rating agencies assigning this score" registered in the Register of state registration of regulatory legal acts at No. 8318.

2. For the purposes of the List international financial institutions are understood as the following organizations:

Asian Development Bank (Asian Development Bank);

Inter-American Development Bank (Inter-American Development Bank);

African development bank (African Development Bank);

Eurasian Development Bank;

European Bank for Reconstruction and Development (European Bank for Reconstruction and Development);

European Investment Bank (European Investment Bank);

Development bank of the European Council (Council of Europe Development Bank);

Islamic corporation on private sector development (the Islamic Corporation for the Development of the Private Sector);

Islamic development bank (Islamic Development Bank);

Multilateral agency of guarantee of investments (Multilateral Investment Guarantee Agency);

Scandinavian investment bank (Nordic Investment Bank);

International Monetary Fund (International Monetary Fund);

International Development Association (International Development Association);

International settlements bank (Bank for International Settlements);

International Centre for Settlement of Investment Disputes (International Centre for Settlement of Investment Disputes);

International Bank for Reconstruction and Development (International Bank for Reconstruction and Development);

International Finance Corporation (International Finance Corporation).";

state Item 3 in the following edition:

"3. For calculation of prudential standard rates of Fund the current value of financial instruments according to accounting data determined according to the Rules of implementation of accounting and assessment of pension assets approved by the resolution of Board of National Bank of the Republic of Kazakhstan of February 26, 2014 No. 24, registered in the Register of state registration of regulatory legal acts at No. 9274 is used.";

state Items 5 and 6 in the following edition:

"5. As quick assets of Fund the assets specified in the Table of calculation of values of prudential standard rates of the Voluntary accumulation pension fund according to appendix 1 to the List are recognized the corresponding amounts.

6. Do not join in calculation of the quick assets specified in Item 5 of the List:

assets on which the property right of Fund is limited (security purchase by Fund on the terms of the obligation of their subsequent return sale or transfer to pledge, or securities having other encumbrances according to the legislation of the Republic of Kazakhstan), except for transactions of repo.

The government securities (including emitted according to the legislation of other states) issued by the Ministry of Finance of the Republic of Kazakhstan and National Bank of the Republic of Kazakhstan, which are subject of transaction of "the return repo" join in calculation of quick assets of Fund in the amounts specified in the Table of calculation of values of prudential standard rates of the Voluntary accumulation pension fund according to appendix to the List.

The securities which are the transaction subject of "the return repo" concluded with participation of the central partner join in calculation of quick assets of Fund in full;

the securities issued by the legal entities who are affiliates in relation to Fund, except for the shares entering the official listing of stock exchange which parameters are used for the purpose of calculation of index of the stock market of stock exchange (the representative list of stock exchange);

the securities issued by trustees in ten and more percent of the voting shares of Fund belonging to large shareholders of Fund and affiliates of these trustees;

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