RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of February 22, 2017 No. 6/5

About entering of amendments into the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Regulations on procedure for placement, the repeated offer, additional placement, the return redemption and carrying out calculations with government securities of the Government of the Kyrgyz Republic through National Bank of the Kyrgyz Republic" of June 26, 2013 No. 20/1

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. Bring in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Regulations on procedure for placement, the repeated offer, additional placement, the return redemption and carrying out calculations with government securities of the Government of the Kyrgyz Republic through National Bank of the Kyrgyz Republic" of June 26, 2013 No. 20/1 the enclosed amendments.

2. To legal management:

- publish this resolution on the official site of National Bank of the Kyrgyz Republic;

- after official publication to send this resolution to the Ministry of Justice of the Kyrgyz Republic for entering into the State register of regulatory legal acts of the Kyrgyz Republic.

3. This resolution becomes effective after 15 days from the date of its official publication.

4. To management of monetary transactions to bring this resolution to the attention of commercial banks, Social fund of the Kyrgyz Republic, the State accumulation pension fund under Social fund of the Kyrgyz Republic, Agency on protection of deposits of the Kyrgyz Republic, Central Depositary Ltd, and also the relevant structural divisions of National Bank of the Kyrgyz Republic.

5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Kyrgyz Republic Zhenish N.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of February 22, 2017 No. 6/5

Amendments in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About Procedure for Placement, the Repeated Offer, Additional Placement, the Return Redemption and Carrying Out Calculations with Government Securities of the Government of the Kyrgyz Republic through National Bank of the Kyrgyz Republic" of June 26, 2013 No. 20/1

Bring in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About Procedure for Placement, the Repeated Offer, Additional Placement, the Return Redemption and Carrying Out Calculations with Government Securities of the Government of the Kyrgyz Republic through National Bank of the Kyrgyz Republic" of June 26, 2013 No. 20/1 the following amendments:

in Regulations on the procedure for placement, the repeated offer, additional placement, the return redemption and carrying out calculations with government securities of the Government of the Kyrgyz Republic through National Bank of the Kyrgyz Republic approved by the above-stated resolution:

- in Item 21 after the words "Social Fund of the Kyrgyz Republic" to add with words ", the State accumulation pension fund under Social fund of the Kyrgyz Republic";

- in Item 31:

after words to "Social fund of the Kyrgyz Republic" to add with words ", to the State accumulation pension fund under Social fund of the Kyrgyz Republic";

after words "GTsB which signed with National Bank the agreement on activities in the market" to add with words "(Appendix 1-1 to this Provision)";

- add Chapter 8 with Items 91, 92 and 93 following of content:

"91. In case of impossibility of holding the auction in automatic telephone exchange (in case of technical failures in automatic telephone exchange and/or other reasons) the National Bank notifies working interest owners on impossibility of holding the auction in automatic telephone exchange. In this case the auction for placement/additional placement of GTsB is held with use of the software of EXCEL on the basis of the paper requests signed by management of working interest owner and certified by seal. (Appendix 3 to this Provision).

92. The paper requests sealed in envelope are provided in National Bank to 12:00 o'clock in the afternoon of holding the auction. The request shall be lowered in box with text: "For requests for the GTsB auctions", located in office 117 National Banks on the first floor of the building, at the address: Feel the city of Bishkek, the avenue, 168. The request needs to be registered in the magazine of registration of requests.

93. Transfer of results of auction (Appendix 4 to this Provision) to working interest owners of auction is made on paper through expedition of National Bank with preliminary sending on fax connection.";

- add with appendices 1-1, 3, 4 following of content:

"Appendix 1-1

to the Provision "About Procedure for Placement, the Repeated Offer, Additional Placement, the Return Redemption and Carrying Out Calculations with Government Securities of the Government of the Kyrgyz Republic through National Bank of the Kyrgyz Republic" approved by the Resolution of Board of National Bank of 26.06.2013 No. 20/1

The agreement No. ____________ about activities of the institutional investor _______________________________ in the market of the government securities of the Government of the Kyrgyz Republic placed through National Bank

Bishkek "____" ___________ 20 __.

National Bank of the Kyrgyz Republic, hereinafter referred to as "National Bank", on behalf of the vice-chairman _______________________________, the acting on the basis of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity" and the order from _________ No. ____, on the one hand, and ____________________ _________________________________________________, hereinafter referred to as "Client", on behalf of ___________________________________, acting on the basis of the Charter, on the other hand, in case of joint mentioning referred to as "Parties", being guided by the Provision of "About Procedure for Placement, the Repeated Offer, Additional Placement, the Return Redemption and Carrying Out Calculations with Government Securities of the Government of the Kyrgyz Republic through National Bank of the Kyrgyz Republic" National Bank approved by the resolution of Board of National Bank of 26.06.2013 No. 20/1, (further - the Provision), signed this Agreement as follows:

1. Subject of the agreement

1.1. Subject of this agreement is implementation by the Client of activities as working interest owner in the market of the government securities of the Government of the Kyrgyz Republic (further - GTsB) placed through National Bank according to the Provision.

2. Client's rights

The client has the right:

2.1. Take through automatic telephone exchange direct part at auctions for placement, additional placement, the repeated offer and the return redemption GTsB on its own behalf.

2.2. Perform operations in the secondary market of GTsB placed through National Bank on its own behalf.

2.3. Obtain information on parameters and results of the held auctions for placement, additional placement, the repeated offer and the return redemption GTsB.

3. Client's obligations

The client shall:

3.1. Perform activities in the market of GTsB according to the legislation of the Kyrgyz Republic and regulatory legal acts of National Bank.

3.2. Provide on the current account sufficient amount of money for payment in day of issue of the won request at the GTsB auction and/or in case of additional (extra auction) placement of GTsB. In case of insufficiency of means on the current account of the Client the request is cancelled, and the Client pays penalty in the amount of one percent from nominal value of GTsB specified in the won request. Before payment of penalty the Client is not allowed on the subsequent GTsB auctions and additional (extra auction) placements of GTsB.

3.3. To timely provide reports in the format established by National Bank, and also other information connected with activities of the Client as working interest owner on requests of National Bank and/or Ministry of Finance of the Kyrgyz Republic (further - the Ministry of Finance).

3.4. Within two working days after the signature of this agreement to provide the power of attorney and the list of persons in National Bank, representatives to sign requests for the GTsB auctions and/or additional (extra auction) placements of GTsB. If the powers specified in this Item are delegated to the other person, within two working days after the date of transmission of such powers to provide the new list and the power of attorney in National Bank.

3.5. Perform civil transactions with GTsB according to the legislation of the Kyrgyz Republic, including with the above-named Provision, and also the Provisions "About Work of the Automated Trade System of National Bank of the Kyrgyz Republic" approved by the resolution of Board of National Bank of March 28, 2013 No. 10/18.

4. Rights of National Bank

The National Bank has the right:

4.1. Exercise supervision of activities of the Client in the market of GTsB, including by means of conducting checks on places.

4.2. Act as Head depositary of GTsB.

4.3. Transfer funds from the current account of the Client into the current account of the Central Treasury of the Ministry of Finance of the Kyrgyz Republic (further - the Central Treasury) in National Bank based on satisfied (in complete or partial amount) requests at the GTsB auction and/or in case of additional (extra auction) placement of GTsB.

4.4. Require timely provision of the established forms of the reporting, and also the Client of other information necessary for National Bank and/or the Ministry of Finance connected with activities.

4.5. Apply to the Client of measure, established by the legislation of the Kyrgyz Republic.

5. Obligations of National Bank

The National Bank shall:

5.1. Provide exact and complete accounting of GTsB which are in circulation.

5.2. Announce and post parameters of the GTsB auctions and additional (extra auction) placements of GTsB on the website of National Bank.

5.3. After holding the GTsB auctions and/or additional (extra auction) placements of GTsB to provide to the Client information on results of the GTsB auctions or additional (extra auction) placements of GTsB according to established procedure.

5.4. In repayment dates of GTsB based on Item 87 of the Provision to transfer into the current account of the Client in National Bank nominal value of the issues of GTsB considered on depot customer account settled by the Ministry of Finance.

5.5. In repayment dates the Ministry of Finance of coupon payments on GTsB based on Item 87 of the Provision to transfer into the current account of the Client in National Bank benefits amount according to the coupon, corresponding to quantity of GTsB considered on depot customer account.

5.6. Provide confidentiality of data on transactions of the Client with GTsB, except as specified disclosures of information according to the current legislation of the Kyrgyz Republic.

6. Responsibility of the parties and procedure for the dispute resolution

6.1. For the wrong write-off of funds from customer account, and also untimely or wrong transfer of the amount by National Bank the National Bank pays to advantage of the Client penalty fee in the amount of % 0,1 from nedozachislenny (or excessively written off) the amounts for each day of delay.

6.2. The client shall notify and return to National Bank mistakenly credited amount. In case of non-return of mistakenly credited amount, the Client pays to National Bank penalty fee for each day of delay in the amount of 0,1 of % of mistakenly credited amount.

6.3. The parties bear responsibility for failure to carry out or inadequate accomplishment of the obligations according to the legislation of the Kyrgyz Republic.

6.4. The disputes arising in the course of execution of this Agreement are subject to negotiated settlement of the Parties for the purpose of development of the mutually acceptable decision.

6.5. Not settled disputes are resolved according to the procedure, established by the legislation of the Kyrgyz Republic.

6.6. The National Bank does not bear responsibility for failure in duty if it turned out to be consequence of failure in duty by the Ministry of Finance on by the Ministry of Finance emitted by it GTsB or non-executions of Provision Items 85 and 88.

7. Effective period and procedure for agreement cancelation

7.1. This Agreement becomes effective from the moment of its signing and is effective within one calendar year.

7.2. If any of the Parties not later than 30 calendar days before the termination of effective period of this Agreement in writing does not declare its termination, action of this Agreement is automatically prolonged for each next calendar year.

7.3. This Agreement can be terminated on initiative of both National Bank, and the Client.

7.4. The National Bank has the right to terminate this Agreement unilaterally and without prior notice in case of non-execution or improper execution by the Client of obligations under this agreement.

8. Other conditions

8.1. According to Provision Item 31 the status of "working interest owner" in the presence of connection to the Automated Trade System (ATS) is provided to the Client according to the conclusion of this Agreement.

8.2. The client grants to National Bank the right to make cash write-off without acceptance from customer account in National Bank by results of participation of the Client at the GTsB auctions and/or additional (extra auction) placements of GTsB.

8.3. Terms of this agreement can be changed or added by agreement the Parties.

8.4. In case of modification and amendments of the Provision or acceptances of new edition of the Provision of the term of this agreement will be reviewed.

8.5. Changes and additions which are drawn up by the additional agreement in writing which is signed by both Parties can be made to this Agreement and is integral part of this Agreement.

8.6. This Agreement is constituted in duplicate in Russian and in duplicate in the Kyrgyz language, in one copy in the Russian and Kyrgyz language for each of the Parties. Both copies have identical legal force.

Details of the parties:

National Bank of the Kyrgyz Republic 720001, Bishkek, Prospekt Chui, 168 (Position) (full name) ______________________ M.P.

(Name) (Postal index, address) (Position) (full name) _______________________ M.P.

 

Appendix 3

to the Provision "About Procedure for Placement, the Repeated Offer, Additional Placement, the Return Redemption and Carrying Out Calculations with Government Securities of the Government of the Kyrgyz Republic through National Bank of the Kyrgyz Republic" approved by the Resolution of Board of National Bank of 26.06.2013 No. 20/1

The auction participation application on GKV/GKO

Present [the name of working interest owner of auction], hereinafter referred to as "Participant", expresses readiness to purchase GKV/GKO registration number ___________, on carried out [date of auction] auction with the following provisions:

on its own behalf:

Own request
Competitive request
No. lot	Purchase price	Quantity of GKV/GKO (piece)	Purchase cost
1	2	3	4=2*3
Non-competitive request
Quantity of GKV/GKO (piece)

on behalf of the clients:

Own request
Competitive request
No. lot	Purchase price	Quantity of GKV/GKO (piece)	Purchase cost
1	2	3	4=2*3
Non-competitive request
Quantity of GKV/GKO (piece)

The participant is informed of rules of holding the auction and assumes all obligations which of them follow.

_______________ (position)

_____________ (signature)

__________________ (Surname, name, patronymic)

______________ Date

 

Appendix 4

to the Provision "About Procedure for Placement, the Repeated Offer, Additional Placement, the Return Redemption and Carrying Out Calculations with Government Securities of the Government of the Kyrgyz Republic through National Bank of the Kyrgyz Republic" approved by the Resolution of Board of National Bank of 26.06.2013 No. 20/1

Notification

Present the National Bank of the Kyrgyz Republic notifies that following the results of auction for sale of GKV/GKO which took place "____" ________ 20 __ your request is satisfied in the following amount:

Registration number	Competitive request		Non-competitive request		In total
	Quantity of GKV/GKO (piece)	Amount	Quantity of GKV/GKO (piece)	Amount	Quantity of GKV/GKO (piece)	Amount

RESULTS of the GKV/GKO AUCTION from "____" _________ 20 __.

Registrats. number	It is announced. amount	Demand amount		Sales volume		Prices			Profitability (%)	Quantity участ.
		IN TOTAL	Including неконк	IN TOTAL	Including неконк	max.	environments.	min.

Chief of ORRTsB ______________ _______________

(signature) (First name, middle initial, last name)"

 

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