LAW OF THE REPUBLIC OF KAZAKHSTAN

of June 19, 2024 No. 97-VIII ZRK

About modification and amendments in some legal acts of the Republic of Kazakhstan concerning risk minimization when crediting, protection of the rights of borrowers, enhancement of regulation of the financial market and enforcement proceeding

Article 1. Make changes and additions to the following legal acts of the Republic of Kazakhstan:

1. In the Civil code of the Republic of Kazakhstan (Special part) of July 1, 1999:

Item 2 of Article 718 to state 1) in the following edition:

"2. Protection of the rights of borrowers of banks, the organizations performing separate types of banking activities, the organizations performing microfinancial activities is provided by limiting establishment of the sizes of annual effective rate of remuneration calculated according to the procedure, determined by the legislation of the Republic of Kazakhstan.

The extreme sizes of annual effective rate of remuneration on bank loans and the microcredits are determined by joint regulatory legal act of authorized body by regulation, control and supervision of the financial market and the financial organizations and National Bank of the Republic of Kazakhstan.";

Article 728 to add 2) with part four of the following content:

"Features of consumer bank loan and the consumer microcredit are determined by the bank law of the Republic of Kazakhstan and the legislation of the Republic of Kazakhstan on microfinancial activities.";

Part one of Item 1 of Article 740 to state 3) in the following edition:

"1. The money of citizens and legal entities which is on bank accounts it can be seized precisely by courts based on court resolutions and legal executives based on resolutions of the legal executives authorized by the prosecutor or resolutions of the territorial authorities of justice created in the state automated information system of enforcement proceeding, according to the procedure and on the bases which are established by the criminal procedure and civil procedural legislation of the Republic of Kazakhstan and the legislation of the Republic of Kazakhstan on enforcement proceeding and the status of legal executives.".

2. In the Budget code of the Republic of Kazakhstan of December 4, 2008:

The paragraph the twentieth the subitem 1) of Item 1 of Article 53 to exclude 1);

Part the fourth Item 3 of Article 62 to state 2) in the following edition:

"Supreme Court of the Republic of Kazakhstan, Constitutional Court of the Republic of Kazakhstan, Administration of the President of the Republic of Kazakhstan, Office of the Security Council of the Republic of Kazakhstan, Administration of the President of the Republic of Kazakhstan, Service of the state protection of the Republic of Kazakhstan, Government office of the Republic of Kazakhstan, Management of material logistics, National center for human rights of the Republic of Kazakhstan, the Highest auditor chamber of the Republic of Kazakhstan, Central Election Commission of the Republic of Kazakhstan, the Supreme Judicial Council of the Republic of Kazakhstan, Committee of homeland security of the Republic of Kazakhstan, Prosecutor General's Office of the Republic of Kazakhstan, Agency on strategic planning and reforms of the Republic of Kazakhstan, Agency of the Republic of Kazakhstan on regulation and development of the financial market, audit committees of areas, cities of republican value, capital, offices of maslikhats and executive bodies, financed from the local budget, development plans for state bodies are not developed.";

Heading of Section 5 to state 3) in the following edition:

"Section 5. System of financial accounting and the financial reporting of public institutions, except for National Bank of the Republic of Kazakhstan, its departments and authorized body on regulation, control and supervision of the financial market and the financial organizations".

3. In the Entrepreneurial code of the Republic of Kazakhstan of October 29, 2015:

1) of Item 2 of Article 169-1 to state the subitem in the following edition:

"1) state bodies, public institutions, except for National Bank of the Republic of Kazakhstan, its departments and authorized body on regulation, control and supervision of the financial market and the financial organizations;".

4. In the Law of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan":

in Article 15:

in part two:

add with subitem 48-1) of the following content:

"48-1) joint regulatory legal act about limiting determination of the sizes of annual effective rate of remuneration on bank loans and the microcredits developed by authorized body on regulation, control and supervision of the financial market and the financial organizations;";

75) to state the subitem in the following edition:

"75) rules of purchase of goods, works and services by National Bank of Kazakhstan, its departments, the organizations entering into its structure and legal entities, fifty and more percent of voting shares (shares in the authorized capital) which belong to National Bank of Kazakhstan or are in its trust management, authorized body on regulation, control and supervision of the financial market and the financial organizations;";

third to add part with subitem 20-1) of the following content:

"20-1) makes the decision on financing of activities of authorized body on regulation, control and supervision of the financial market and the financial organizations;".

5. In the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan":

Article 2 to add 1) with subitems 1-1) and 15) of the following content:

"1-1) electronic trading platforms selling bank and microfinancial assets - the Internet resource providing infrastructure to participants for tendering, operating according to the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations";";

"15) consumer bank loan - the bank loan which is not mortgage housing loan (mortgage loan), provided to physical person on purchase of goods, works, services and (or) other purposes which are not connected with implementation of business activity.";

2) in Article 8:

state Item 7-1 in the following edition:

"7-1. The bank shall realize by tendering on electronic trading platform selling bank and microfinancial assets the following property:

the mortgage property which was earlier ensuring obligation fulfillment under the agreement of bank loan, carried over bank as a result of the address of collection on it;

the property which arrived in property of bank as a result of receipt of compensation by bank instead of obligation fulfillment under the agreement of bank loan.

The requirement established by part one of this Item does not extend to the dwelling leased by bank according to the subitem 14) of Item 9 of this Article with condition of its redemption.

The property specified in part one of this Item shall be realized by bank within three years from the date of its transition to property of bank, except for:

the parcel of land which term of realization is determined taking into account the features provided by the Land code of the Republic of Kazakhstan;

the dwelling leased by bank according to the subitem 14) of Item 9 of this Article without condition of its redemption which term of realization is prolonged in proportion to lease term.

The requirements established by parts one, second and third this Item extend to the organizations performing separate types of banking activities, and the affiliated organizations of banks acquiring doubtful and bad assets of parent bank.

Requirements of this Item do not extend to cases of transition to property of banks of shares or shares in the authorized capital of legal entities, stipulated in Item the 7th this Article.

The property specified in part one of this Item in case of recognition of the biddings by cancelled can be realized by carrying out direct address sale according to the rules of tendering on electronic trading platform selling bank and microfinancial assets approved by regulatory legal act of authorized body.";

in Item 9:

7) to add the subitem with the words "and the property received in the form of compensation instead of obligation fulfillment under the agreement of bank loan";

add with subitem 9-2) of the following content:

"9-2) rendering services in management of the account (accounts) of the depositor opened (opened) in the central depositary addressed to the depositor;";

14) to state the subitem in the following edition:

"14) to hand over based on the agreement of property hiring (lease) in lease, including with redemption condition, the dwelling which carried over bank.

Only physical persons belonging to socially vulnerable segments of the population according to the Law of the Republic of Kazakhstan "About the housing relations" which dwelling carried over bank as a result of the address of collection on it in connection with non-execution or improper execution of agreement obligations by them of mortgage housing loan (mortgage loan) or provision of compensation by them in the form of the dwelling acting as pledge under the agreement of mortgage housing loan (mortgage loan) can act as lessees of the dwelling specified in part one of this subitem;";

changes in Kazakh are made to the subitem 15), the text in Russian does not change;

Article 9 to add 3) with Item 1-1 of the following content:

"1-1. The bank, the organization performing separate types of banking activities, in case of distribution and (or) advertizing, containing information on remuneration sizes on bank loan or contribution, shall specify remuneration rate in reliable, annual, effective, comparable basis.

In case of distribution of the advertizing containing information on remuneration sizes on bank loan or contribution, including its publication, the annual effective rate of remuneration is specified numerically, in form, identical by the size and style of registration of fonts, with other rates of remuneration. Specifying of annual effective rate of remuneration is not allowed by font, it is less used when specifying other information in this advertizing.";

4) in Article 17-1:

in the subitem 4) of Item 5 of the word "Physical Persons — Nonresidents in confirmation of Faultless Goodwill Submit the Document Confirming Lack of Not Removed or Unspent Conviction, Issued by the Relevant State Body of the Country of Their Nationality, and the Stateless Person — the Country of Their Permanent Residence (Date of Issue of the Specified Document Can Not Be More than Three Months Preceding Date of Filing of Application);" shall be replaced with words "On the leading employees of the applicant who are nonresidents of the Republic of Kazakhstan, the applicant represents the data confirming their faultless goodwill in the form provided by regulatory legal act of authorized body;";

add with Item 9-1 of the following content:

"9-1. Requirements of this Article for availability of the minimum required rating of one of rating agencies and the agreement between authorized body and the relevant supervisory authority of foreign state on exchange of information do not extend to cases of acquisition by the applicant - the financial organization - the nonresident of the Republic of Kazakhstan of hundred percent of shares of resident bank of the Republic of Kazakhstan at national managing holding.";

5) in Article 20:

2) of Item 3 to add the subitem with paragraphs the seventh and eighth the following content:

"and (or) on positions of the political government employees providing forming of state policy in spheres of economy, finance or the state audit and financial control;

and (or) in national managing holding, Development bank of Kazakhstan, special fund of development of private entrepreneurship, the affiliated organization of national managing holding performing market development of direct investments on the positions provided by subitem 3-2) of Item 5-1 of this Article;";

add Item 5-1 with subitems 3-1) and 3-2) of the following content:

"3-1) political government employees, providing forming of state policy in spheres of economy, finance or the state audit and financial control;

3-2) heads and members of governing body, the head of executive body, his deputy and members of executive body of national managing holding, Development bank of Kazakhstan, special fund of development of private entrepreneurship, the affiliated organization of national managing holding performing market development of direct investments;";

6) in Item 13 of Article 30:

the second to exclude part;

third to state part in the following edition:

"In addition to the condition provided by part one of this Item, condition of carrying out banks by branches - nonresidents of the Republic of Kazakhstan of the banking activities provided by the subitem 2) of Item 2 of this Article acceptance from physical person of contribution not below the amount equal in equivalent of hundred twenty thousand US dollars is.";

7) in Article 34:

in Item 3:

the fifth to state the paragraph to part two in the following edition:

"delay, including for the period including the term of passing of conscription military service and 60 days after its termination and (or) payment by installments of payments under the agreement of bank loan;";

part the fourth after the words "provided by the agreement of bank loan" to add with the words "and also through the objects of informatization providing to bank, the organization performing separate types of banking activities, opportunity to perform identification of the borrower-physical person by means of application of the identification means provided by the Law of the Republic of Kazakhstan " about payments and payment systems " (further-objects of informatization)";

add with part five of the following content:

"Provision by bank, the organization performing separate types of banking activities, delays and (or) payments by installments of payments under the agreement of bank loan without increase in monthly payments on loan is performed in the presence of the consent of the borrower.";

in part five of the word "according to the procedure, provided in the agreement of bank loan" shall be replaced with words "according to the procedure, provided by the agreement of bank loan, and also through objects of informatization";

add with Item 3-2 of the following content:

"3-2. The bank, the organization performing separate types of banking activities shall provide under the agreement of bank loan to the military personnel of conscription military service payment deferral on principal debt and remuneration for the period including the term of passing of conscription military service and 60 days after its termination, without charge of remuneration on loan according to the procedure, determined by authorized body.

Exchange of information about the military personnel called on conscription military service, and also their dismissal, availability or lack of bank loan, provision of payment deferral on it is performed by means of ensuring interaction of information systems of state bodies and banks, the organizations performing separate types of banking activities, according to the procedure, determined by authorized body in coordination with the Ministry of Defence of the Republic of Kazakhstan.

In the cases provided by part two of this Item, collection, processing and use of personal data are performed according to the legislation of the Republic of Kazakhstan.";

in Item 5-1:

shall be replaced with words the words "Has the Right to Identify Person" "Physical person has the right to identify free of charge";

after the words "remove it" to add with the words "in credit bureau or";

state Item 5-2 in the following edition:

"5-2. To bank, the organization performing separate types of banking activities it is forbidden to grant bank loans to physical person in the presence of information on establishment of voluntary refusal of receipt of bank loan by it in its credit report received by bank, the organization performing separate types of banking activities before decision making about provision of bank loan.

To bank, the organization performing separate types of banking activities it is forbidden to grant bank loans to physical person without the consent of the spouse (spouse) which procedure for obtaining and the minimum size of bank loan on which consent is necessary are determined by regulatory legal act of authorized body.

In case of issue by bank, the organization performing separate types of banking activities, bank loan in the presence of information on establishment by the client - physical person of voluntary refusal of receipt of bank loan in its credit report, and also without the consent of the spouse (spouse) bank, the organization performing separate types of the banking activities having no right to demand from physical person of obligation fulfillment on such bank loan.

The prohibition on provision of bank loan to physical person in the presence of information on establishment of voluntary refusal of receipt of bank loan by it does not extend to cases of issue of bank loan for the purpose of debt repayment on bank loan of physical person or within the set credit limit on payment card in the amount of, not exceeding seventy fivefold sizes of the monthly settlement indicator established for the corresponding financial year by the law on the republican budget.

The bank, the organization performing separate types of banking activities no later than three working days from the date of identification of the fact of issue of bank loan in the presence of information on establishment by physical person of voluntary refusal of receipt of bank loan in its credit report provided by part one of this Item and also without the consent of the spouse (spouse) take the following measures:

make the decision on debt write-off of the client on such bank loan;

stop debt collection and claim and claim work on such bank loan of the client;

make corrections to credit history of the client in credit bureaus by elimination of records about information on such bank loan;

perform return to the client of earlier withheld (paid) amounts of remuneration and (or) penalties on such bank loan.";

add with Items 5-3, 5-4, 5-5 and 15 of the following content:

"5-3. To bank, provision of the bank loan which is not connected with implementation of business activity, to the physical person having overdue debt on bank loan and (or) the microcredit over ninety calendar days is forbidden to the organization performing separate types of banking activities.

This prohibition does not extend to cases of issue of bank loan for the purpose of repayment of bank loan and (or) the microcredit of the physical person which is not connected with implementation of business activity on the improving conditions providing change towards rate decrease of remuneration and (or) the size of periodical payments and (or) change towards reduction or complete cancellation of penalty (penalty, penalty fee).

5-4. Bank, the organization performing separate types of banking activities, having no right to issue consumer bank loan which amount does not conform to the requirements established by regulatory legal act of authorized body.

5-5. To bank, the organization performing separate types of banking activities it is forbidden to sign the contract of bank loan with physical person by means of the Internet without carrying out its biometric identification which procedure for carrying out is determined by authorized body.";

"15. From the moment of detection of illegal information access, being bank secrecy, its illegal change, implementation of wrongful acts from the third parties or other illegal (fraudulent) actions with bank loans of physical persons bank, the organization performing separate types of banking activities within two working days take measures for elimination of the reasons and effects of such actions, and also within one working day inform on it the client and authorized body.

Based on the introduced (taken-out) law enforcement agencies according to Code of penal procedure of the Republic of Kazakhstan idea of taking measures to elimination of the circumstances promoting making of criminal offense, or the resolution on recognition of the borrower - physical person injured bank, the organization performing separate types of banking activities no later than three calendar days:

stop debt collection and claim and claim work on such bank loan of the client;

stop charge of remuneration and (or) penalty on such bank loan of the client.

Bank, the organization performing separate types of banking activities no later than ten working days from the date of receipt of the court resolution which took legal effect in which established fact of registration of bank loan by fraudulent method without participation of the client, measures for return to the client of earlier withheld (paid) amounts for such bank loan make the decision on debt write-off of the client on bank loan, and also.";

To add Article 34-1 with Items 11, of 12, 13 and 14 following contents:

"11. In cases of transition of the dwelling to property of bank, the organization performing separate types of banking activities, and (or) transfers of the dwelling under the act and absence at the pledger - the physical person belonging to socially vulnerable segments of the population according to the Law of the Republic of Kazakhstan "About the housing relations" in property of other dwelling he has the right within thirty calendar days from the date of transition of the dwelling to property of bank, the organization performing separate types of banking activities to address to bank, the organization performing separate types of banking activities with the statement for transfer to it in lease of such dwelling, including with condition of its redemption.

12. The bank, the organization performing separate types of banking activities within fifteen calendar days after day of receipt of the statement, stipulated in Item the 11th this Article, consider it and report to the physical person about one of the following decisions:

1) about consent to the conclusion of the agreement of property hiring (lease) of the dwelling with condition of its redemption or without that;

2) about refusal in the conclusion of the agreement of property hiring (lease) with indication of motivated reasons for the reasons of such refusal on the bases, the established this Law.

13. Bank, the organization performing separate types of the banking activities having the right to refuse the conclusion of the agreement of property hiring (lease) according to the statement, stipulated in Item to the 11th this Article in the following cases:

1) submissions by the applicant of false information on belonging to category of socially vulnerable segments of the population;

2) impossibility to pay by the applicant the rent in view of lack of sources of the income;

3) bankruptcies of the applicant;

4) availability at the applicant of housing on the property right.

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