LAW OF THE REPUBLIC OF KAZAKHSTAN

of July 5, 2012 No. 27-V

About modification and amendments in the Law of the Republic of Kazakhstan "About housing construction savings in the Republic of Kazakhstan"

Article 1. Bring in the Law of the Republic of Kazakhstan of December 7, 2000 "About housing construction savings in the Republic of Kazakhstan" (Sheets of Parliament of the Republic of Kazakhstan, 2000, No. 21, Art. 382; 2003, No. 15, Art. 139; 2005, No. 7-8, of Art. 22; 2007, No. 14, Art. 102; 2011, No. 4, Art. 37; No. 16, Art. 128) following changes and amendments:

Subitems 1) and 2) of Article 2 to state 1) in the following edition:

"1) preliminary housing loan - the target loan granted by housing construction savings bank to the investor within the contractual amount for the purpose of improvement of housing conditions without repayment provision of principal debt before receipt of the contractual amount on which remaining balance is settled at the expense of the contractual amount according to this Law, domestic credit policy of bank and terms of the contract of bank loan;

2) interim housing loan - the target loan granted by housing construction savings bank to the investor for the purpose of improvement of housing conditions on condition of accumulating of minimum necessary size of cumulative money on which remaining balance is settled at the expense of the contractual amount under the agreement on housing construction savings according to this Law, domestic credit policy of bank and terms of the contract of bank loan;";

Item 9 of Article 3 to state 2) in the following edition:

"9. The investor has the right to early agreement cancelation about housing construction savings and receipt of the contribution added on it remunerations by housing construction savings bank. At the same time the investor has the right to award of the state when accumulating contribution more than three years on the conditions established by the agreement on housing construction savings.";

3) in Article 5:

in Item 2 part one:

2) to state the subitem in the following edition:

"2) translated transactions - accomplishment of orders of physical persons and legal entities on payments and money transfers;";

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