RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of January 28, 2017 No. 17

About modification of some regulatory legal acts of the Republic of Kazakhstan concerning regulation of insurance activity

For the purpose of enhancement of regulatory legal acts of the Republic of Kazakhstan the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the List of regulatory legal acts of the Republic of Kazakhstan concerning regulation of insurance activity to which changes, according to appendix to this resolution are made.

2. To department of insurance supervision (Kurmanov Zh. B.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

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

2) within ten calendar days from the date of state registration of this resolution the direction it the copy in paper and electronic type in the Kazakh and Russian languages in the Republican state company on the right of economic maintaining "The republican center of legal information" for official publication and inclusion in Reference control bank of regulatory legal acts 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.

3. To management on consumer protection of financial services and external communications (Terentyev A. L.) provide within ten calendar days after state registration of this resolution the direction it to the copy on official publication in periodic printing editions.

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

5. This resolution becomes effective after twenty one calendar days after day of its first official publication.

Appendix

to the Resolution of Board of National Bank of the Republic of Kazakhstan of January 28, 2017 No. 17

The list of regulatory legal acts of the Republic of Kazakhstan concerning regulation of insurance activity to which changes are made

1. Bring in the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of February 16, 2004 No. 35 "About approval of the Instruction about requirements to procedure for carrying out internal audit of the insurance (reinsurance) organization" (registered in the Register of state registration of regulatory legal acts at No. 2752, published on September 14, 2005 in the Yuridicheskaya Gazeta newspaper No. 168) the following changes:

state heading in the following edition:

"About approval of Requirements to procedure for carrying out internal audit of the insurance (reinsurance) organization";

state Item 1 in the following edition:

"1. Approve the enclosed Requirements to procedure for carrying out internal audit of the insurance (reinsurance) organization.";

in the Instruction about requirements to procedure for carrying out internal audit of the insurance (reinsurance) organization approved by the specified resolution:

state heading in the following edition:

"Requirements to procedure for carrying out internal audit of the insurance (reinsurance) organization";

state preamble in the following edition:

"These Requirements to procedure for carrying out internal audit of the insurance (reinsurance) organization (further – Requirements) are developed according to the Laws of the Republic of Kazakhstan of December 18, 2000 "About insurance activity", of February 28, 2007 "About financial accounting and the financial reporting", of May 13, 2003 "About joint-stock companies" and other regulatory legal acts of the Republic of Kazakhstan and establish requirements to procedure for carrying out internal audit of the insurance (reinsurance) organization.";

state Item 1 in the following edition:

"1. Internal audit of the insurance (reinsurance) organization, including its branches and representations, and also activities of insurance agents (further - insurance companies), is performed according to requirements of the legislation of the Republic of Kazakhstan about insurance and insurance activity, constituent and internal documents of insurance company, taking into account the features determined by these Requirements.";

exclude Chapter 3.

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