The memorandum of understanding between Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations and the State Committee on securities in case of the President of the Azerbaijan Republic concerning supervision in the security market

of August 7, 2007

Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations (further - the Agency) and the State Committee on securities in case of the President of the Azerbaijan Republic (further - Committee), referred to as further with the Parties,

for the purpose of the organization of effective interaction and exchange of information for topical issues of supervision in the security market, assistance to further development of supervising activities in the states of the Parties, taking into account the international principles and standards in this sphere,

expressing the readiness to cooperate with each other on the basis of mutual trust,

proceeding from importance of tasks on ensuring transparency of cross-border organizations,

agreed as follows:

CHAPTER 1. GENERAL PROVISIONS

Article 1. Basic concepts

1. For the purposes of this Memorandum:

1) required supervision body - the supervision body receiving request about rendering assistance or rendering such assistance according to provisions of this Memorandum;

2) the requesting supervision body - the supervision body sending inquiry for rendering assistance and receiving such assistance according to provisions of this Memorandum;

3) information - supervising information, information on public questions and other data which are of interest to the Parties within their cooperation according to this Memorandum;

4) information on public questions - official information on creation, activities and the main indicators of the financial organizations, condition of the financial market and legal conditions of its regulation;

5) information of confidential nature - information on which distribution according to national legal systems of the states of the Parties or according to their mutual arrangement restrictions in its distribution are imposed;

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