RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 31, 2015 No. 264

About modification and amendments in the resolution of Board of National Bank of the Republic of Kazakhstan of April 28, 2012 No. 154 "About approval of Rules of implementation of currency transactions in the Republic of Kazakhstan"

List of amending documents

According to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan", of March 19, 2010 "About the state statistics", of April 15, 2013 "About the state services" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of April 28, 2012 No. 154 "About approval of Rules of implementation of currency transactions in the Republic of Kazakhstan" (registered in the Register of state registration of regulatory legal acts at No. 7701, published on August 25, 2012 in the Kazakhstanskaya Pravda newspaper No. 286-287 (27105-27106)) the following changes and amendments:

in Rules of implementation of the currency transactions in the Republic of Kazakhstan approved by the specified resolution:

the first and second Item 9 to state parts in the following edition:

"9. When carrying out by the resident payment and (or) money transfer on currency transaction on which the registration certificate and (or) the certificate on the notification are required the resident represents to authorized bank originals (the duplicates issued by National Bank) and copies of such documents. After their reconciliation copies remain in authorized bank, and originals (the duplicates issued by National Bank) return to resident. In the cases provided by part one of Item 73 of these rules instead of the original of the registration certificate (the certificate on the notification) other resident participants of the currency agreement the copy of the registration certificate (the certificate on the notification) certified by seal of National Bank is submitted.

In case of absence at resident of the certificate on the notification the authorized bank performs operation, informing the resident in any form of need of receipt of the certificate on the notification. At the same time the authorized bank monthly to the 20th (inclusive) the month following the accounting period submits in central office of National Bank payment report and (or) money transfers on currency transactions in the form established by appendix 2 to these rules. Payments and (or) money transfers on currency transactions made with use of payment cards join in the report for that period in which information on such payments and (or) money transfers arrived from resident.";

to state part one of Item 12 in the following edition:

"12. In case of absence at physical person sender (receiver) of money of possibility of submission of the currency agreement the authorized bank registers payment and (or) money transfer on currency transaction only when specifying by the sender (receiver) of money of the purpose of such transfer and availability of the record made or confirmed to them:

1) information on this payment and (or) money transfer resolving to authorized bank submission to law enforcement agencies of the Republic of Kazakhstan and National Bank on their requirement;

2) confirmatory that this payment and (or) money transfer is not connected with implementation by physical person of the currency transaction requiring receipt of the registration certificate, the certificate on the notification, accounting contract number (for physical resident persons);

3) confirmatory that this payment and (or) money transfer is not connected with business activity of physical person (in case of money transfer without opening of the bank account in authorized bank);

4) confirmatory that this payment and (or) money transfer is not connected with financing of terrorist or extremist activities and other complicity to terrorism or extremism.";

state Item 28 in the following edition:

"28. Receipt of the new registration certificate and (or) new certificate on the notification in exchange earlier granted is required in case of change of the following data specified in earlier granted registration certificate and (or) the certificate on the notification:

1) the total amount of the currency agreement towards increase;

2) currencies of the currency agreement;

3) participants of the currency agreement if change involves change of requirements or obligations of the participating resident of the currency agreement;

4) identification these participants of the currency agreement (surname, name of physical person or name of the legal entity);

5) subject of the currency agreement;

6) effective period of the currency agreement – upon transition with short-term (up to one year inclusive) on long-term (more than one year);

7) places of permanent residence (stay) of resident – in case of re-deployment to other area, the city of Almaty, Astana;

8) countries of permanent residence (stay) of the nonresident.

In case of concession resident to other resident of the requirement to the nonresident and (or) transfer by the resident to other resident of debt to the nonresident the term of financial loan (commercial credit) is calculated from the date of emergence of requirements (obligations) of the initial creditor (the initial debtor).";

in Item 30:

the subitem 2) is reworded as follows in Kazakh, the text in Russian does not change;

5) and 6) to state subitems in the following edition:

"5) own transactions of banks connected with acquisition of securities of nonresident issuers and shares of the investment nonresident funds issued according to the legislation of other states and in their territory (except for direct investments);

6) the transactions of the single accumulation pension fund and the Voluntary accumulation pension funds connected with acquisition of securities of nonresident issuers and shares of the investment nonresident funds issued according to the legislation of other states and in their territory;";

10) to state the subitem in the following edition:

"10) the commercial credits and financial loans granted by banks to nonresidents for the term of more than 180 days and also the commercial credits obtained by banks from nonresidents for the term of more than 180 days.";

state Item 34 in the following edition:

"34. Authorized banks monthly to the 10th (inclusive) the month following the accounting period submit in central office of National Bank payment report and (or) the money transfers made under currency agreements on which registration certificates, certificates on the notification, in the form established by appendix 4 to these rules were granted. Payments and (or) money transfers on currency transactions made with use of payment cards join in the report for that period in which information on such payments and (or) money transfers arrived from resident.";

state Item 38 in the following edition:

"38. In case of availability with initiation of bankruptcy proceedings submission of the reporting under registration certificates and (or) certificates on the notification is not required from resident of the decision on recognition of the debtor by the bankrupt and his liquidation from the date of submission to National Bank of the copy of such decision. In case of removal of determination by court about suspension or suit abatement about bankruptcy, decisions on refusal in recognition of the debtor by the bankrupt or cancellations of the judgment about recognition of the debtor by the bankrupt submission of the reporting by the resident is resumed.

In case of availability submission of the reporting under registration certificates and (or) certificates on the notification is not required from resident of the copy of the decision of territorial subdivision of body of state revenues on suspension of submission of tax statements by the taxpayer (tax agent) from the date of submission to National Bank of the copy of such decision and before renewal of submission of tax statements.";

4) of Item 41 to exclude the subitem;

state Items 48 and 49 in the following edition:

"48. The resident (except for banks, the insurance (reinsurance) organizations) which is the direct investor under the received registration certificate before completion of ownership of asset quarterly to the 10th (inclusive) the month following the accounting period submits in place of registration of the currency agreement the report on equity participation of investment object on the form established by appendix 8 to these rules.

49. The resident (except for banks, the insurance (reinsurance) organizations managing investment portfolio) which is object of direct investment under the received registration certificate before completion of ownership of asset by the direct nonresident investor quarterly to the 10th (inclusive) the month following the accounting period submits in place of registration of the currency agreement the report on equity participation of investment object on the form established by appendix 8 to these rules.";

add with Item 54-1 in the following edition:

"54-1. Banks notify central office of National Bank in report form on regular basis by electronic method according to Item 5 of these rules, and also by means of communication channels with observance of procedures of confirmation of the digital signature.

The National Bank on own transactions of bank for the purpose of refining of circumstances of making of currency transactions requests the copy of the currency agreement from bank.";

55, 56 and 57 to state Items in the following edition:

"55. Residents (except for banks) notify territorial branch of National Bank on own currency transactions in the place of the permanent residence (for physical persons) or stays (for legal entities) in the form established by appendix 6 to these rules, except as specified, 66 and 68 these rules established by Items 58, 60-2, 61,.

Confirmation about the notification is performed by National Bank by execution of the certificate on the notification in the form established by appendix 5 to these rules. Issue of the certificate on the notification is performed after seven working days from the date of receipt of the notification.

In case of request of the currency agreement the certificate on the notification is drawn up by National Bank for refining of circumstances of making of currency transactions (classification of transactions and their participants) after receipt of the required document.

56. Banks monthly to the 10th (inclusive) the month following the accounting period notify central office of National Bank by submission of the report on conditions of attraction of financial loans by bank from nonresidents in the form established by appendix 9-1 to these rules:

1) about attraction conditions in the accounting period of financial loans from nonresidents (including in cases, stipulated in Item 2 articles 23 of the Law) if the outstanding amount of bank within the currency agreement exceeds five hundred thousand US dollars in equivalent;

2) about changes in the accounting period of the data on financial loans specified in subitems of 1)-6), 8) of Item 28 of these rules.

57. Banks quarterly to the 10th (inclusive) the month following the accounting period submit the report on development and servicing of the financial loans attracted with bank from nonresidents in the form established by appendix 9-2 to these rules.

The report on development and servicing of the financial loans attracted with bank from nonresidents in the form established by appendix 9-2 to these rules includes information on all financial loans attracted with banks from nonresidents on whom there are outstanding obligations for the beginning and (or) the end of the accounting period.";

state Item 59 in the following edition:

"59. The following transactions are subject to the notification:

1) the direct investments performed based on the agreement on rendering broker services signed with the resident broker or based on the agreement on management of investment portfolio signed with the managing resident company;

2) own transactions of banks connected with direct investments abroad and direct investments of nonresidents to the Republic of Kazakhstan;

3) introduction by residents (nonresidents) of money and other property for the purpose of ensuring equity participation of the organization, being the nonresident (resident), or as fee in property of such organization (except for direct investments);

4) acquisition by residents of securities of nonresident issuers, shares of the investment nonresident funds issued according to the legislation of other states and in their territory;

5) acquisition by nonresidents of securities of resident issuers, shares of the investment resident funds issued according to the legislation of the Republic of Kazakhstan;

6) placement of the securities of nonresident issuers issued according to the legislation of the Republic of Kazakhstan and also placement of the Kazakhstan depositary receipts;

7) placement of the securities of resident issuers issued according to the legislation of other states and on their territories, and also placement of depositary receipts which underlying asset are securities of resident issuers;

8) transactions with derivative financial instruments between residents and nonresidents;

9) direct investments of nonresidents in the insurance (reinsurance) organization, the managing director of investment portfolio, and also direct investments of the insurance (reinsurance) organization abroad.";

to state part one of Item 60 in the following edition:

"60. The following residents notify on own transactions in the form established by appendix 6 to these rules with filling of general part and Section 2 of the specified appendix:

1) brokers (except for banks), managing companies – about the transactions specified in the subitem 3) of Item 59 of these rules, except for direct investments;

2) other residents – about the transactions specified in subitems of 3)-5), 8) of Item 59 of these rules, except for direct investments.";

add with Items 60-1 and 60-2 of the following content:

"60-1. Banks on own transactions specified in subitems 2), 3), 5) (in case of acquisition of equity securities), 6) and 7) Item 59 of these rules, monthly to the 20th (inclusive) the month following the accounting period submit in central office of National Bank payment report and (or) money transfers on currency transactions in the form established by appendix 2 to these rules.

60-2. Residents do not notify on the transactions specified in subitems 6), 7), 9) of Item 59 of these rules. The authorized bank on such transactions notifies central office of National Bank on payments and (or) money transfers of resident clients monthly to the 20th (inclusive) the month following the accounting period in the form established by appendix 2 to these rules.

The National Bank for the purpose of refining of circumstances of making of currency transactions requests the copy of the currency agreement from resident.";

state Item 62 in the following edition:

"62. The resident (except for banks and brokers) under the received certificate on the notification quarterly to the 10th (inclusive) the month following the accounting period submits in the place of the notification the report on equity participation of investment object on the form established by appendix 8 to these rules on other transactions – the performance report of obligations under the currency agreement in the form established by appendix 9 to these rules.";

to state part one of Item 64 in the following edition:

"64. The bank on own transactions relating to other transactions of capital movement monthly to the 20th (inclusive) the month following the accounting period submits in central office of National Bank payment report and (or) money transfers on currency transactions in the form established by appendix 2 to these rules.";

add with Items 72-1 and 72-2 of the following content:

"72-1. The registration certificate (the certificate on the notification) is drawn up separately on each currency transaction performed within the mixed agreement and also on each currency of the currency agreement.

72-2. The currency transactions connected with the derivative financial instrument which is acquired for the purpose of application or realization of underlying asset and it cannot be given it (is sold) irrespective of underlying asset, are considered as currency transactions with underlying asset.";

the first and second Item 73 to state parts in the following edition:

"73. Under the currency agreement which participants are several residents the registration certificate (the certificate on the notification) is granted to the resident agreement party first which filed in National Bank the registration application (with the notification). When implementing payment for benefit of the nonresident and (or) receipt of means from the nonresident under such currency agreement by other resident agreement parties in authorized bank the copy of the registration certificate (the certificate on the notification) certified by seal of National Bank is submitted.

Behind receipt of the copy of the registration certificate (the certificate on the notification) other participating residents of the currency agreement file in place of registration (notification) the written application of any form of submission of the copy of the registration certificate (the certificate on the notification).";

add with Item 77 of the following content:

"77. The certificates on the notification granted to bank on financial loans from nonresidents are effective before complete obligation fulfillment under currency agreements and stipulated in Item 29 these rules are considered invalid on the bases, and also in case of change of the data specified in subitems of 1)-6), 8) of Item 28 of these rules.";

state appendix 1 in edition according to appendix 1 to this resolution;

state appendix 2 in edition according to appendix 2 to this resolution;

state appendix 3 in edition according to appendix 3 to this resolution;

state appendix 4 in edition according to appendix 4 to this resolution;

state appendix 5 in edition according to appendix 5 to this resolution;

state appendix 6 in edition according to appendix 6 to this resolution;

state appendix 7 in edition according to appendix 7 to this resolution;

state appendix 8 in edition according to appendix 8 to this resolution;

state appendix 9 in edition according to appendix 9 to this resolution;

add with appendix 9-1 in edition according to appendix 10 to this resolution;

add with appendix 9-2 in edition according to appendix 11 to this resolution;

state appendix 10 in edition according to appendix 12 to this resolution;

state appendix 11 in edition according to appendix 13 to this resolution;

state appendix 12 in edition according to appendix 14 to this resolution.

2. From Date of Introduction in operation of this resolution registration certificates, certificates on the notification granted by National Bank on the following transactions stop the action:

1) own transactions of banks connected with commercial credits from nonresidents, direct investments, participation in the authorized capital, securities and derivative financial instruments, other transactions of capital movement;

2) placement of the securities of nonresident issuers issued according to the legislation of the Republic of Kazakhstan and also placement of the Kazakhstan depositary receipts;

3) placement of the securities of resident issuers issued according to the legislation of other states and on their territories, and also placement of depositary receipts which underlying asset are securities of resident issuers;

4) direct investments of nonresidents in the insurance (reinsurance) organization, in the managing director of investment portfolio, and also direct investments of the insurance (reinsurance) organization abroad.

3. To department of paying balance, currency control and statistics (Umbetaliyev M. T.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

1) together with Legal support department (Dosmukhambetov N. M.) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) the direction of this resolution on official publication in information system of law of Ad_let of the republican state company on the right of economic maintaining "The republican center of legal information of the Ministry of Justice of the Republic of Kazakhstan" within ten calendar days after its state registration in the Ministry of Justice of the Republic of Kazakhstan;

3) placement of this resolution on official

Internet resource of National Bank of the Republic of Kazakhstan after its official publication.

4. To department of the international relations and public relations (Kazybayev A. K.) provide the direction of this resolution on official publication in periodic printing editions within ten calendar days after its state registration in the Ministry of Justice of the Republic of Kazakhstan.

5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Smolyakov O. A.

6. This resolution becomes effective after thirty calendar days after day of its first official publication, except for the paragraph of the eleventh Item 1 of this resolution which becomes effective since July 1, 2016, and the paragraph of the forty ninth Item 1 of this resolution which becomes effective since January 1, 2017.

It is approved Ministry for Investments and Development of the Republic of Kazakhstan February 23, 2016

Minister ______________ A. Isekeshev

It is approved Ministry of Finance of the Republic of Kazakhstan January 21, 2016

Minister ______________ B. Sultanov

It is approved Ministry of Foreign Affairs of the Republic of Kazakhstan January 26, 2016

Minister ______________ E.Idrisov

It is approved Ministry of national economy of the Republic of Kazakhstan March 10, 2016

Minister ______________ E.Dosayev

Appendix 1

to the Resolution of Board of National Bank of the Republic of Kazakhstan of December 31, 2015 No. 264

Appendix 1

to Rules of implementation of currency transactions in the Republic of Kazakhstan

Form

Card on violation No. ______

month under report _____________ year _________

Name of _______________________________ authorized bank

Code of line	Type of information	Information on violation
10	Information on the client of bank:
11	the name (for legal entities), surname, name, middle name (in case of its availability) (for physical persons)
12	BIN (for legal entities)

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