ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of June 24, 2011 No. 344

About approval of the Regulations on depository activity

According to the Law of the Kyrgyz Republic "About the security market" the Government of the Kyrgyz Republic decides:

1. Approve the enclosed Regulations on depository activity.

2. This resolution becomes effective after 15 days from the date of official publication.

Approved by the Order of the Government of the Kyrgyz Republic of June 24, 2011 No. 344

Regulations on depository activity

1. General provisions

1. This Provision determines the legal basis of functioning of depositaries and establishes features of depository activity in the Kyrgyz Republic according to the Law of the Kyrgyz Republic "About the security market".

2. The relations arising in connection with implementation of depository activity are regulated by this Provision and other regulatory legal acts of the Kyrgyz Republic.

3. In this Provision the following basic concepts are used:

delivery of securities - assignment of rights on securities by transfers on custody accounts or their physical transfer;

the owner of securities - person to whom securities belong on the property right;

the contract for depositary servicing (further - the depositary agreement) - the contract between depositary and the depositor governing their relations in the course of depository activity;

the custody account - the set of entries in accounting registers of depositary providing registration of details of depositors, accounting of its valuable papers / money and valuable papers / money of his clients, and fixing of the rights affirmed by these securities;

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