LAW OF THE KYRGYZ REPUBLIC

of July 25, 2016 No. 138

About introduction of amendments to the Law of the Kyrgyz Republic "About protection of bank deposits (deposits)"

Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 22, 2016

Article 1. Bring in the Law of the Kyrgyz Republic "About protection of bank deposits (deposits)" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2008, No. 5, the Art. 453) the following changes:

To replace 1) regarding 1 Article 1 of the word of "physical persons" with the word of "investors";

2) in Article 2:

a) to state the paragraph of the sixth in the following edition:

"The contribution (deposit) is the amount of money received by the bank having the corresponding license of National Bank, from the investor, and also cash amount, placed on the settlement or deposit account by the individual entrepreneur, on the terms of recoverability (irrespective of, assume these conditions complete or partial recoverability or recoverability of the bigger amount).";

b) to state the paragraph of the eighth in the following edition:

"The investor - physical person which introduced the deposit in bank, and the individual entrepreneur performing individual business activity without formation of legal entity who placed on bank accounts the money in connection with the activities.";

c) add Article with the paragraph the twenty fifth the following content:

"Target value of Deposit Protection Fund - the measure value of sufficiency of Deposit Protection Fund established by this Law which is calculated as the relation of the amount of fund of protection of deposits to total amount of the guaranteed deposits of participating banks.";

To replace 3) regarding 1 article 4 of figure "100" with figures "200";

4) in Article 26:

a) state part 2 in the following edition:

"2. Target value of Deposit Protection Fund is established at the level of 12 percent.";

b) regarding 3 words "Subsequent Fees" to replace with the word "Fees";

c) recognize parts 4-5 invalid;

Part 1 of Article 28 to state 5) in the following edition:

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info