LAW OF THE REPUBLIC OF KAZAKHSTAN

of April 27, 2015 No. 311-V ZRK

About modification and amendments in some legal acts of the Republic of Kazakhstan concerning insurance and Islamic financing

List of amending documents

Article 1. Make changes and additions to the following legal acts of the Republic of Kazakhstan:

1. In the Civil code of the Republic of Kazakhstan (General part) accepted by the Supreme Council of the Republic of Kazakhstan on December 27, 1994 (Sheets of the Supreme Council of the Republic of Kazakhstan, 1994, No. 23-24 (appendix); 1995, No. 15-16, of Art. 109; No. 20, Art. 121; Sheets of Parliament of the Republic of Kazakhstan, 1996, No. 2, Art. 187; No. 14, Art. 274; No. 19, Art. 370; 1997, No. 1-2, of Art. 8; No. 5, Art. 55; No. 12, Art. 183, 184; Art. No. 13-14, 195, 205; 1998, No. 2-3, of Art. 23; No. 5-6, of Art. 50; No. 11-12, of Art. 178; Art. No. 17-18, 224, 225; No. 23, Art. 429; 1999, No. 20, Art. 727, 731; No. 23, Art. 916; 2000, No. 18, Art. 336; No. 22, Art. 408; 2001, No. 1, Art. 7; No. 8, Art. 52; No. 17-18, of Art. 240; No. 24, Art. 338; 2002, No. 2, Art. 17; No. 10, Art. 102; 2003, No. 1-2, of Art. 3; No. 11, Art. 56, 57, 66; No. 15, Art. 139; No. 19-20, of Art. 146; 2004, No. 6, Art. 42; No. 10, Art. 56; No. 16, Art. 91; No. 23, Art. 142; 2005, No. 10, Art. 31; No. 14, Art. 58; No. 23, Art. 104; 2006, No. 1, Art. 4; No. 3, Art. 22; No. 4, Art. 24; No. 8, Art. 45; No. 10, Art. 52; No. 11, Art. 55; No. 13, Art. 85; 2007, No. 2, Art. 18; No. 3, Art. 20, 21; No. 4, Art. 28; No. 16, Art. 131; No. 18, Art. 143; No. 20, Art. 153; 2008, No. 12, Art. 52; No. 13-14, of Art. 58; No. 21, Art. 97; No. 23, Art. 114, 115; 2009, Art. No. 2-3, 7, 16, 18; No. 8; Art. 44; No. 17, Art. 81; No. 19, Art. 88; No. 24, Art. 125, 134; 2010, No. 1-2, of Art. 2; No. 7, Art. 28; No. 15, Art. 71; No. 17-18, of Art. 112; 2011, No. 2, Art. 21, 28; No. 3, Art. 32; No. 4, Art. 37; No. 5, Art. 43; No. 6, Art. 50; No. 16, Art. 129; No. 24, Art. 196; 2012, No. 1, Art. 5; No. 2, Art. 13, 15; No. 6, Art. 43; No. 8, Art. 64; No. 10, Art. 77; No. 11, Art. 80; No. 20, Art. 121; No. 21-22, of Art. 124; No. 23-24, of Art. 125; 2013, No. 7, Art. 36; No. 10-11, of Art. 56; No. 14, Art. 72; No. 15, Art. 76; 2014, No. 4-5, of Art. 24; No. 10, Art. 52; No. 11, Art. 61, 63; No. 14, Art. 84; No. 21, Art. 122; No. 23, Art. 143):

state Article 283 in the following edition:

"Article 283. Increase in the amounts paid on content of the citizen

The amount paid according to monetary commitment it is direct on content of the citizen (indemnification, caused to life or health, under the agreement of the perpetual maintenance and others), annually increases in proportion to average value of the predicted rate of inflation.".

2. In the Civil code of the Republic of Kazakhstan (Special part) of July 1, 1999 (The sheet of Parliament of the Republic of Kazakhstan, 1999, No. 16-17, of Art. 642; No. 23, Art. 929; 2000, No. 3-4, of Art. 66; No. 10, Art. 244; No. 22, Art. 408; 2001, No. 23, Art. 309; No. 24, Art. 338; 2002, No. 10, Art. 102; 2003, No. 1-2, of Art. 7; No. 4, Art. 25; No. 11, Art. 56; No. 14, Art. 103; No. 15, Art. 138, 139; 2004, No. 3-4, of Art. 16; No. 5, Art. 25; No. 6, Art. 42; No. 16, Art. 91; No. 23, Art. 142; 2005, No. 21-22, of Art. 87; No. 23, Art. 104; 2006, No. 4, Art. 24, 25; No. 8, Art. 45; No. 11, Art. 55; No. 13, Art. 85; 2007, No. 3, Art. 21; No. 4, Art. 28; No. 5-6, of Art. 37; No. 8, Art. 52; No. 9, Art. 67; No. 12, Art. 88; 2009, No. 2-3, of Art. 16; No. 9-10, of Art. 48; No. 17, Art. 81; No. 19, Art. 88; No. 24, Art. 134; 2010, No. 3-4, of Art. 12; No. 5, Art. 23; No. 7, Art. 28; No. 15, Art. 71; No. 17-18, of Art. 112; 2011, No. 3, Art. 32; No. 5, Art. 43; No. 6, Art. 50, 53; No. 16, Art. 129; No. 24, Art. 196; 2012, No. 2, Art. 13, 14, 15; No. 8, Art. 64; No. 10, Art. 77; No. 12, Art. 85; No. 13, Art. 91; No. 14, Art. 92; No. 20, Art. 121; No. 21-22, of Art. 124; 2013, No. 4, Art. 21; No. 10-11, of Art. 56; No. 15, Art. 82; 2014, No. 1, Art. 9; No. 4-5, of Art. 24; No. 11, Art. 61, 69; No. 14, Art. 84; No. 19-I, 19-II, Art. 96; No. 21, Art. 122; No. 23, Art. 143):

Table of contents to add 1) with heading of Article 845-1 of the following content:

"Article 845-1. Islamic insurance";

Article 567 to add 2) with part two of the following content:

"Essential terms of the contract of financial leasing are established by the Law of the Republic of Kazakhstan "About financial leasing".";

Part the second Item 1 of Article 818 to state 3) in the following edition:

"The insurance premiums got by the insurer from the insurer, except for case, stipulated in Item 3 Articles 845-1 of this Code, belong to it on the property right.";

Item 3 of Article 824 to state 4) in the following edition:

"3. Conditions of reinsurance are determined by legal acts of the Republic of Kazakhstan and the contract of reinsurance between the reinsurer and the overcautious person.

The agreement of reinsurance shall meet requirements imposed by this Code to the insurance contract. The agreement of Islamic reinsurance shall meet requirements imposed by this Code to the agreement of Islamic insurance. At the same time the insurer according to the basic agreement of insurance (the agreement of Islamic insurance) in the agreement of reinsurance (the agreement of Islamic reinsurance) is considered insurer.";

Item 1 of Article 826 to add 5) with subitem 6-1) of the following content:

"6-1) amount of remuneration of the insurer for management of Islamic insurance fund, conditions and procedure for its payment (in case of the conclusion of the agreement of Islamic insurance);";

Chapter 40 to add 6) with Article 845-1 of the following content:

"Article 845-1. Islamic insurance

1. The agreement of Islamic insurance is the insurance contract (Article 803 of this Code) concluded taking into account the features established by the legislation of the Republic of Kazakhstan on insurance and insurance activity.

2. The insurance premium paid by the insurer under the agreement of Islamic insurance, and also income gained as a result of investment of insurance premiums is subject to transfer by the insurer in the Islamic insurance fund created by the insurer for implementation of insurance payments to insurers (beneficiaries) for agreements of Islamic insurance.

3. The insurance premiums got by the insurer under the agreement of Islamic insurance and also other property constituting Islamic insurance fund do not belong to the insurer on the property right.

4. The insurer under the agreement of Islamic insurance has the right to earn reward for management of Islamic insurance fund at the expense of means of Islamic insurance fund according to the requirements established by the legislation of the Republic of Kazakhstan on insurance and insurance activity and the signed agreement of Islamic insurance.

5. Features of implementation of Islamic insurance, forming, accounting, use and distribution of Islamic insurance fund, legal status of the insurers performing Islamic insurance, and conditions of their activities are determined according to this Code and legal acts of the Republic of Kazakhstan for insurance and insurance activity.";

Item 1 of Article 937 to state 7) in the following edition:

"1. When causing to compensation the earnings (income) lost by the victim which it had are subject to the citizen of mutilation or other damage of health or definitely could have, and also the expenses caused by damage of health (on treatment, additional food, acquisition of drugs, prosthetics, foreign leaving, sanatorium treatment, acquisition of special vehicles, preparation for other profession and others) if it is recognized that the victim needs these types of the help and leaving and does not receive them free of charge.

The expenses caused by damage of health (on treatment, additional food, acquisition of drugs, prosthetics, foreign leaving, sanatorium treatment, acquisition of special vehicles, preparation for other profession and others), are compensated by the employer who did harm to health of the worker in the limits set by the Labor code of the Republic of Kazakhstan.";

To exclude Item 6 of Article 938;

Article 943 to state 9) in the following edition:

"Article 943. Increase in indemnification in connection with value increase of life

The harm compensation amounts paid to citizens in connection with damage of health or the death of the victim annually increase in proportion to average value of the predicted rate of inflation.";

Item 1 of Article 944 to state 10) in the following edition:

"1. Indemnification, connected with decrease in working capacity or the death of the victim, is made by monthly payments.

Indemnification regarding the lost earnings by the victim in case of execution of labor (office) obligations by it is performed for the term of establishment of extent of disability, but no more achievement of the retirement age established by the legislation of the Republic of Kazakhstan on provision of pensions by it.

In the presence of reasonable excuses the court taking into account opportunities of the causer of harm can award upon the demand of the citizen having the right to compensation to it receivable payments one-timely, but no more than in three years.";

Item 4 of Article 945 to state 11) in the following edition:

"4. After completion of the period of capitalization of payments on indemnification caused to life and health of workers, the legal entities liquidated owing to bankruptcy, to the citizen of the Republic of Kazakhstan the public assistance in the type of monthly payments according to the procedure established by the Government of the Republic of Kazakhstan which amount annually increase in proportion to average value of the predicted rate of inflation is performed.".

3. In the Labor code of the Republic of Kazakhstan of May 15, 2007 (The sheet of Parliament of the Republic of Kazakhstan, 2007, No. 9, Art. 65; No. 19, Art. 147; No. 20, Art. 152; No. 24, Art. 178; 2008, No. 21, Art. 97; No. 23, Art. 114; 2009, No. 8, Art. 44; No. 9-10, of Art. 50; No. 17, Art. 82; No. 18, Art. 84; No. 24, Art. 122, 134; 2010, No. 5, Art. 23; No. 10, Art. 48; No. 24, Art. 146, 148; 2011, No. 1, Art. 2, 3; No. 11, Art. 102; No. 16, Art. 128; 2012, No. 3, Art. 26; No. 4, Art. 32; No. 5, Art. 41; No. 6, Art. 45; No. 13, Art. 91; No. 14, Art. 92; No. 15, Art. 97; No. 21-22, of Art. 123; 2013, No. 2, Art. 13; No. 3, Art. 15; No. 7, Art. 36; No. 9, Art. 51; No. 10-11, of Art. 56; No. 14, Art. 72, 75; No. 15, Art. 78, 81; No. 16, Art. 83; No. 23-24, of Art. 116; 2014, No. 2, Art. 10; No. 7, Art. 37; No. 8, Art. 44, 49; No. 11, Art. 67; No. 14, Art. 84; No. 16, Art. 90; No. 19-I, 19-II, Art. 96; No. 21, Art. 122; No. 23, Art. 143; 2015, No. 1, Art. 2; No. 3, Art. 13; The Law of the Republic of Kazakhstan of April 6, 2015 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning health care", published in the Egemen Kazakstan and Kazakhstan Truth newspapers on April 8, 2015):

Article 1 to add 1) with subitem 68-1) of the following content:

"68-1) rough imprudence - the actions of the worker promoting abuse of regulations of labor protection and safe engineering and safety of the health;";

Article 164 to state 2) in the following edition:

"Article 164. Liability of the employer for the harm done to life and (or) health of the worker

1. In case of damnification of life and (or) to health of the worker in connection with execution of labor obligations by it the employer shall compensate harm in the amount provided by the civil legislation of the Republic of Kazakhstan.

2. Harm, stipulated in Item 1 this Article, is compensated in full in case of absence at the worker of insurance payments, except for the case provided in item 4 of this Article. In the presence of insurance payments the employer shall compensate to the worker difference between insurance sum and the actual extent of harm.

3. The procedure for compensation by employers of the harm done to life and (or) health of workers is determined by the legislation of the Republic of Kazakhstan.

4. In case of damnification to the worker, connected with extent of loss of professional working capacity from five to twenty nine percent inclusive, the employer shall refund to the worker the lost earnings and expenses caused by damage of his health.

The size of the expenses caused by damage of health, compensated by the employer in each case cannot exceed two hundred fifty monthly settlement indicators established for the corresponding financial year by the law on the republican budget at the time of payment.

Payment for expense recovery, caused by damage of health, is performed based on the documents confirming these expenses, provided by the worker or person who incurred these expenses. At the same time expenses which enter the guaranteed amount of free medical care according to the legislation of the Republic of Kazakhstan in the field of health care are not subject to compensation.".

4. In the Code of the Republic of Kazakhstan of December 10, 2008 "About taxes and other obligatory payments in the budget" (Tax code) (Sheets of Parliament of the Republic of Kazakhstan, 2008, No. 22-I, 22-II, Art. 112; 2009, Art. No. 2-3, 16, 18; No. 13-14, of Art. 63; No. 15-16, of Art. 74; No. 17, Art. 82; No. 18, Art. 84; No. 23, Art. 100; No. 24, Art. 134; 2010, No. 1-2, of Art. 5; No. 5, Art. 23; No. 7, Art. 28, 29; No. 11, Art. 58; No. 15, Art. 71; No. 17-18, of Art. 112; No. 22, Art. 130, 132; No. 24, Art. 145, 146, 149; 2011, No. 1, Art. 2, 3; No. 2, Art. 21, 25; No. 4, Art. 37; No. 6, Art. 50; No. 11, Art. 102; No. 12, Art. 111; No. 13, Art. 116; No. 14, Art. 117; No. 15, Art. 120; No. 16, Art. 128; No. 20, Art. 151; No. 21, Art. 161; No. 24, Art. 196; 2012, No. 1, Art. 5; No. 2, Art. 11, 15; No. 3, Art. 21, 22, 25, 27; No. 4, Art. 32; No. 5, Art. 35; No. 6, Art. 43, 44; No. 8, Art. 64; No. 10, Art. 77; No. 11, Art. 80; No. 13, Art. 91; No. 14, Art. 92; No. 15, Art. 97; No. 20, Art. 121; No. 21-22, of Art. 124; No. 23-24, of Art. 125; 2013, No. 1, Art. 3; No. 2, Art. 7, 10; No. 3, Art. 15; No. 4, Art. 21; No. 8, Art. 50; No. 9, Art. 51; No. 10-11, of Art. 56; No. 12, Art. 57; No. 14, Art. 72; No. 15, Art. 76, 81, 82; No. 16, Art. 83; Art. No. 21-22, 114, 115; No. 23-24, of Art. 116; 2014, No. 1, Art. 9; No. 4-5, of Art. 24; No. 7, Art. 37; No. 8, Art. 44, 49; No. 10, Art. 52; No. 11, Art. 63, 64, 65, 69; No. 12, Art. 82; No. 14, Art. 84; No. 16, Art. 90; No. 19-I, 19-II, Art. 96; No. 21, Art. 122; No. 22, Art. 128, 131; No. 23, Art. 143; No. 24, Art. 145):

Item 7 of Article 43-1 to state 1) in the following edition:

"7. In case of identification of violations by tax authority during the term of limitation period after the termination of activities of the individual entrepreneur according to this Article calculation of the tax liabilities on taxes and other obligatory payments in the budget, to the compulsory pension contributions compulsory for professional pension contributions and social assignments on the activities performed during registration as the individual entrepreneur is made by physical person according to the tax legislation of the Republic of Kazakhstan existing at the time of emergence of obligations on their payment.";

Item 3 of Article 60 to state 2) in the following edition:

"3. If other is not established by this Item, action of the provisions established in tax accounting policy provided by subitems 1), 4), 5), 6) and 9) of part one of Item 1 of this Article extends for calendar year and is not subject to change on tax periods on which tax audit is made.

The reference method chosen by the taxpayer on value added on account of the value added tax, stipulated in Item 4 Articles 260 and (or) Item 5-1 of Article 262 of this Code, extends to the tax period established for the purposes of calculation of the value added tax and is not subject to change on tax periods on which tax audit is made.";

3) in Article 90:

6) of Item 2 to add the subitem with the paragraph the fourth the following content:

"to other bank if one of the banks participating in the transaction on the concession of rights to claim on the credit (will occupy) made till January 1, 2016 is the bank concerning which restructuring which more than 90 percent of voting shares for December 31, 2013 belong to national managing holding is by a court decision carried out and if on the credit (I occupy) right to claim cost on which the concession, not below the market value of right to claim determined in the valuation report, which is carried out according to the legislation of the Republic of Kazakhstan on estimative activities or foreign state is made;";

in Item 2-1:

the second to state part in the following edition:

"Provisions of this Item extend to bank concerning which restructuring which more than 90 percent of voting shares for December 31, 2013 belong to national managing holding, or the legal entity, earlier being such bank is by a court decision carried out.";

in part four:

2) and 3) to state subitems in the following edition:

"2) the debtor on the credit (loan) is specified in the list (lists) of debtors on the credits (loans) on which debt is subject to forgiveness, approved (approved) till January 1, 2015 by governing body of the bank provided in part two of this Item, and provided (provided) to authorized body no later than February 1, 2015;

3) forgiveness of credit debt (loan) is made within the amount specified in the list (lists) of debtors on the credits (loans) on which debt is subject to forgiveness approved (approved) till January 1, 2015 by governing body of the bank provided in part two of this Item, and provided (provided) to authorized body no later than February 1, 2015;";

the fourteenth the subitem 4) to state the paragraph in the following edition:

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