RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of October 27, 2003 No. 379

About combination of types of professional activity in the security market

According to the paragraph the second item 4 of article 45 of the Law of the Republic of Kazakhstan "About the security market" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Determine that in the security market combination of the following types of professional activity is allowed:

1) broker and/or dealer - with custodial activities, activities for management of investment portfolio, and also for the National operator of mail and banks - about transfer - agency activities;

2) on maintaining system of registers of security holders - about transfer - agency activities;

3) on management of investment portfolio - with broker and/or dealer activities;

4) on investment management of pension assets - with activities for management of investment portfolio, except as specified, when activities for investment management of pension assets are performed by the accumulation pension funds independently, and also with broker and/or dealer activities without the right of account management of clients;

5) custodial - with broker and/or dealer activities;

6) depositary - with activities for maintaining system of registers of security holders.

1-1. excluded

2. This resolution becomes effective after fourteen days from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan.

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