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 June 25, 2007 No. 179

About approval of Rules of implementation of direct settlement

For the purpose of implementation of article 26-1 of the Law of the Republic of Kazakhstan of July 1, 2003 "About compulsory insurance of civil responsibility of owners of vehicles", the Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations (further - the Agency) DECIDES:

1. Approve the enclosed Rules of implementation of direct settlement.

2. This resolution becomes effective after six months from the date of enforcement of the Law of the Republic of Kazakhstan of May 7, 2007 "About modification and amendments in some legal acts of the Republic of Kazakhstan on obligatory types of insurance".

3. To department of supervision of subjects of the insurance market and other financial organizations (Karakulov D. Sh.):

1) together with Legal department (Baysynov M. B.) to take measures to state registration in the Ministry of Justice of the Republic of Kazakhstan of this resolution;

2) in ten-day time from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan to bring this resolution to the attention of the interested divisions of the Agency, the insurance (reinsurance) organizations and Consolidation of legal entities "Association of financiers of Kazakhstan".

4. To service of the Chairman of the Agency (Zabortseva E. N.) provide the publication of this resolution in mass media of the Republic of Kazakhstan.

5. To impose control of execution of this resolution on the vice-chairman of the Agency Uzbekov G. N.

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