RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of August 24, 2011 No. 48/4

About modification and amendments in the resolution of Board of National Bank of the Kyrgyz Republic of March 18, 2005 No. 5/5 "About approval of the Provision "On Pre-judicial Regulation of Disputes between the National Bank of the Kyrgyz Republic and Commercial Banks, the Organizations Performing Separate Types of Banking Activities and Their Founders (Participants), Legal Entities and Physical Persons", registered in the Ministry of Justice of the Kyrgyz Republic on April 29, 2005, registration number 59-05

According to articles 7 and 43 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", the Board of National Bank of the Kyrgyz Republic decides:

1. Make changes and additions to the resolution of Board of National Bank of the Kyrgyz Republic of March 18, 2005 No. 5/5 "About approval of the Provision "On Pre-judicial Regulation of Disputes between the National Bank of the Kyrgyz Republic and Commercial Banks, the Organizations Performing Separate Types of Banking Activities and Their Founders (Participants), Legal Entities and Physical Persons", registered in the Ministry of Justice of the Kyrgyz Republic on April 29, 2005, registration number 59-05 (is attached).

2. This resolution becomes effective after one month after official publication.

3. After official publication to send to Legal management this resolution to the Ministry of Justice of the Kyrgyz Republic for inclusion in the State register of regulatory legal acts of the Kyrgyz Republic.

4. To impose control of execution of this resolution on the vice-chairman of National Bank of the Kyrgyz Republic Zheenbayeva B. Zh.

 

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of August 24, 2011 No. 48/4

Changes and amendments in the resolution of Board of National Bank of the Kyrgyz Republic of March 18, 2005 No. 5/5 "About approval of the Provision "On Pre-judicial Regulation of Disputes between the National Bank of the Kyrgyz Republic and Commercial Banks, the Organizations Performing Separate Types of Banking Activities and Their Founders (Participants), Legal Entities and Physical Persons", registered in the Ministry of Justice of the Kyrgyz Republic on April 29, 2005, registration number 59-05

Bring in the Provision "On Pre-judicial Regulation of Disputes between the National Bank of the Kyrgyz Republic and Commercial Banks, the Organizations Performing Separate Types of Banking Activities and Their Founders (Participants), Legal Entities and Physical Persons" approved by the resolution of Board of NBKR of March 18, 2005 No. 5/5 "About approval of the Provision "On Pre-judicial Regulation of Disputes between the National Bank of the Kyrgyz Republic and Commercial Banks, the Organizations Performing Separate Types of Banking Activities and Their Founders (Participants), Legal Entities and Physical Persons" registered in the Ministry of Justice of the Kyrgyz Republic on April 29, 2005, registration number 59-05, the following changes and amendments:

1. In all text of the Provision the word "NBKR" shall be replaced with words "National Bank" in the corresponding cases.

2. In the Provision preamble:

- in paragraph one after words "" to add with financial credit institute (further - bank) words", and also other legal entity or physical person,";

- state paragraph two in the following edition:

"decisions on application of corrective actions and/or on imposing of the penalties (further - corrective actions) accepted by the vice-chairman of National Bank supervising the supervising block or Committee on supervision of National Bank (further - Committee on supervision);";

- in paragraph four:

- after the words "and banks" to add the words "or legal entities and physical persons";

- "claim" to replace the word with the word "judicial".

3. In Item 1.1:

- shall be replaced with words the words "or other person" ", legal entity or physical person";

- the word is "intended" to be replaced with the word "intends";

- exclude the words "instruction or another";

- after the word "decision" to add words "the vice-chairman of the National Bank supervising the supervising block or";

- exclude the word of "(measure)".

4. In Item 1.2:

- the paragraph one of Item 1.2 to state in the following edition:

"The concepts used in this Provision:";

- to state concept of the term "Appellant" in the following edition:

"The appellant - bank or other legal, or physical person which appeals the decision of the vice-chairman of the National Bank supervising the supervising block or Committee on supervision, or board decision of National Bank according to the procedure established by this Provision.";

- after concept "National Bank" to add concept of the term "Responsible Structural Division of National Bank" of the following edition:

"Responsible structural division of National Bank - Management of banking supervision, Management of supervision of non-bank organizations, the Management of methodology of supervision and licensing initiating consideration of question in the matter of the appellant.";

- in the name of the concept "Decision on Application of Corrective Action" to replace the word "measures" with the word of "measures";

- state the concept "Decision on Application of Corrective Actions" of the following edition:

"The decision on application of corrective actions - the document accepted by the vice-chairman of National Bank supervising the supervising block, or Committee on supervision of National Bank, or Board of National Bank concerning bank, other legal entity or physical person determining corrective actions and/or the certain actions obligatory to execution including the decision on imposing of penalty.";

- in concept "Party" of the word "other person" shall be replaced with words "other legal, or physical person".

5. In Item 1.4:

- words "the measure (measures) is applied "shall be replaced with words" measures are applied";

- shall be replaced with words the words "in Board" "before Board".

6. In the subitem) Item 2.3 of the word "any persons" shall be replaced with words "any persons".

7. In Item 3.1:

- exclude words "instructions or another";

- after the word "decisions" to add words "the vice-chairman of the National Bank supervising the supervising block or".

8. In Item 3.2:

- in the subitem and) after the words "name and bank address" to add the words "or other legal entity";

- the subitem in) to state in the following edition:

"c) surname, name, middle name, office address and phone number of person who represents the interests of the appellant in case of trial based on properly drawn up power of attorney (the power of attorney is enclosed to the application);";

- in the subitem of) after the word "decision" to add words "the vice-chairman of the National Bank supervising the supervising block or";

- in the subitem of) to replace the word "measures" with the word of "measures";

- the subitem е) to state in the following edition:

"e) any objections of the appellant concerning the actual or legal reasons for the decision of the vice-chairman of the National Bank supervising the supervising block or Committee on supervision about application of corrective actions, imposing of penalty, and/or contents of the decision;";

- the subitem з) to state in the following edition:

"h) the signature of the appellant (if the appellant has the right to sign bank, the appeal the Chairman of the board or the Chairman of the board of directors; if branch of nonresident bank - the head of branch; if the legal entity - the head or the deputy manager having right to sign on behalf of the legal entity).".

9. In Item 3.3 before words to "Committee on supervision" to add words "to the vice-chairman of the National Bank supervising the supervising block or".

10. In Item 5.1:

- replace figure "10" with figure "20";

- to replace the word of "copies" with the word "copies";

- shall be replaced with words the words "specified in Item" "provided according to Item";

- the words "Management of Banking Supervision" shall be replaced with words "responsible structural division";

- words "Legal department" shall be replaced with words "Legal management";

- in the second offer the floor is "given" to be replaced with the word "represent".

11. In Item 5.2 to exclude the words "can not be considered by Board of NBKR".

12. State Item 6.1 in the following edition:

"6.1. The meeting on consideration of the application (further meeting) is held on the appeal for the purpose of fair and bystry permission of the corresponding matters of argument. Each party has the right to provide the line item by means of oral arguments and documentary evidences, and also to ask questions to witnesses about the facts provided by any other party.".

13. In Item 6.6 the word of "Party" shall be replaced with words "The parties and".

14. In Item 6.8 to replace the word "its" with the word "of".

15. In Item 7.1:

- in the subitem 1) after the word "before" to add words "with the vice-chairman of the National Bank supervising the supervising block or";

- 2) to state the subitem in the following edition:

"2) to reject the statement of appeal and to uphold the decision of the vice-chairman of the National Bank supervising the supervising block or Committee on supervision about application of corrective actions, imposing of penalty.";

- in the fourth paragraph to replace the word "toughening" with the word "toughenings".

16. State Item 8.1 in the following edition:

"8.1. In case of decision making by Board of National Bank about application to the appellant of corrective actions, the appellant within 10 working days after receipt of board decision of National Bank can direct written objection concerning application of corrective actions to it. The written objection shall be signed by the appellant according to requirements of the subitem з) Item 3.2 of this provision.".

17. In Item 8.2:

- to replace the word of "bank" with the word of "appellant";

- the word "is represented" to be replaced with the word "go";

- the words "Management of Banking Supervision" shall be replaced with words "responsible structural division";

- words "Legal department" shall be replaced with words "Legal management".

18. In Item 8.3:

- exclude the word of "(measure)";

- replace the word "measures" with the word of "measures".

19. In Item 8.4:

- to replace the word of "bank" with the word of "appellant";

- replace the word "measures" with the word of "measures".

20. In Item 8.5:

- the words "Management of Banking Supervision" shall be replaced with words "Responsible structural division";

- words "Legal department" shall be replaced with words "Legal management";

- to replace the word of "bank" with the word of "appellant";

- exclude the word of "(measure)";

- replace figure "5" with figure "10".

21. In Item 8.6:

- replace the word "measures" with the word of "measures";

- "bank" to replace the word with the word "appellant";

- to replace the word of "bank" with the word of "appellant";

- the last offer to state in the following edition:

"In case of hearing by Board of National Bank of oral arguments of the appellant there shall be staff of responsible structural division, Legal management and, if necessary, other structural divisions of the supervising block of National Bank.".

22. In Item 8.7:

- replace figure "15" with figure "20";

- to replace the word of "bank" with the word of "appellant";

- replace the word "measures" with the word of "measures";

- to replace the word of "removal" with the word "acceptances".

 

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