ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of December 31, 2015 No. 1167

About approval of Rules of liquidation of the state-owned Islamic special finance company

According to Item 7-1 of article 32-6 of the Law of the Republic of Kazakhstan of July 2, 2003 "About the security market" the Government of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of liquidation of the state-owned Islamic special finance company.

2. This resolution becomes effective since January 1, 2016 and is subject to official publication.

Approved by the Order of the Government of the Republic of Kazakhstan of December 31, 2015 No. 1167

Rules of liquidation of the state-owned Islamic special finance company

1. These rules of liquidation of the state-owned Islamic special finance company are developed according to Item 7-1 of article 32-6 of the Law of the Republic of Kazakhstan of July 2, 2003 "About the security market" and determine procedure for liquidation of the state-owned Islamic special finance company (further – the company).

2. By a court decision the company can be liquidated in case of bankruptcy, and also in other cases, stipulated by the legislation the Republic of Kazakhstan.

3. The decision on voluntary liquidation of the company is made by the Government of the Republic of Kazakhstan.

At the same time voluntary liquidation of the company can be performed after approval of the report on results of repayment of release of the government Islamic securities issued by the company.

4. After decision making about liquidation of the company the authorized body on state-owned property without delay in writing reports about decision making about liquidation of the company to the judicial authority performing registration of legal entities, to body of state revenues in place of registration.

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