RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of December 21, 2012 No. 50/7

About modification and amendments in some regulatory legal acts of National Bank of the Kyrgyz Republic

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 additions to the Regulations of activities of credit unions in the Kyrgyz Republic approved by the resolution of Board of National Bank of the Kyrgyz Republic of May 4, 2005 No. 14/2 "About new edition of Regulations of activities of credit unions in the Kyrgyz Republic", 06.05.2005 registered in the Ministry of Justice of the Kyrgyz Republic, registration number 73-05, the following amendments:

in Item 5:

- in the fourth paragraph of subitem 5.3.3. after the word of "the licensed NBKR" to add with words ", except for investments into FKKS capital";

- add with subitem 5.3.4. following content:

"5.3.4. The amount of investments of credit union or the credit unions connected among themselves of the capital of FKKS shall not exceed 10% of the authorized capital of FKKS.

The credit unions connected among themselves are understood as credit unions which are under general direct or indirect control.

General direct or indirect control is understood as possibility of physical person or legal entity to perform the determining influence on management or policy of credit union solely or together with other persons irrespective of participation in the equity capital of credit union.".

2. Ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 15.06.2017 No. 2017-P-12/25-10

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