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

of November 23, 2022 No. 96

About modification and amendments in some regulatory legal acts of the Republic of Kazakhstan on questions voluntarily and compulsorily liquidated banks, the insurance (reinsurance) organizations, voluntarily and the branches of nonresident banks of the Republic of Kazakhstan, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan which are compulsorily stopping activities

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 on questions voluntarily and compulsorily liquidated banks, the insurance (reinsurance) organizations, voluntarily and the branches of nonresident banks of the Republic of Kazakhstan, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan which are compulsorily stopping activities to which changes and additions, according to appendix to this resolution are made.

2. To provide to department of bank regulation 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 the Acting Chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of November 23, 2022 No. 96

The list of regulatory legal acts of the Republic of Kazakhstan on questions voluntarily and compulsorily liquidated banks, the insurance (reinsurance) organizations, voluntarily and the branches of nonresident banks of the Republic of Kazakhstan, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan which are compulsorily stopping activities to which changes and additions are made

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 March 25, 2006 No. 77 "About approval of Rules of liquidation of the insurance (reinsurance) organization, the forced termination of activities of the branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan and job requirements of liquidation commissions of compulsorily liquidated insurance (reinsurance) organization which is compulsorily stopping activities of branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan" (it is registered in the Register of state registration of regulatory legal acts at No. 4257) the following changes:

in Rules of liquidation of the insurance (reinsurance) organization, the forced termination of activities of the branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan and job requirements of the liquidation commissions of compulsorily liquidated insurance (reinsurance) organization which is compulsorily stopping activities of branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan, approved by the specified resolution:

state Item 83 in the following edition:

"83. The liquidation commission in the absence of the valuation report of property transferred by temporary administration of the insurance (reinsurance) organization, carries out assessment of property of the liquidated insurance (reinsurance) organization with involvement of the appraiser performing estimative activities according to the Law of the Republic of Kazakhstan "About estimative activities in the Republic of Kazakhstan" (further - the appraiser).

The choice of the appraiser for real estate appraisal irrespective of its book value, personal estate over 1000 (one thousand) monthly settlement indicators for unit is performed by book value by carrying out tender (tender) by results of which preference is given to the appraiser who offered the most advantageous conditions (the amount of payment for the rendered services, evaluating terms, availability at the appraiser of branch network and other conditions). Conditions of carrying out tender (tender) are determined by the chairman of liquidation commission and published in the Kazakh and Russian languages in the periodic printing editions distributed in all territory of the Republic of Kazakhstan or area, city of republican value, the capital of the Republic of Kazakhstan in the location of the property of the insurance (reinsurance) organization which is subject to assessment.

The choice of the appraiser for assessment of 1 (one) unit of property book value from 50 (fifty) to 1000 (one thousand) monthly settlement indicators is performed by liquidation commission by request of price offers.

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