Agency regulation

Approved by the Decree

of the President

of the Republic of Kazakhstan

dated August 28, 2006

No. 166 

Regulation

on the Agency of the RK on Regulation of Activities of the Regional Financial Centre of Almaty

Paragraph 1. General provisions

1. Agency of the RK on Regulation of Activities of the Regional Financial Centre of Almaty city (hereinafter — Agency) is the state body, subordinated and accountable to the President of the Republic of Kazakhstan, performing state regulation of regional financial centre of Almaty city (hereinafter — financial centre).
2. Agency operates in compliance with the Constitution of the Republic of Kazakhstan, Law of the RK «On the Regional Financial Centre of Almaty city» of June 5, 2006, this Regulation and other regulatory legal acts.
3. Agency is the legal entity in the form of state institution, and has its stamp with its name in state language, letterform of standard pattern, and the account in Treasury Committee of the Ministry of Finance of the Republic of Kazakhstan.

Agency enters into civil law relations in its own individual capability.

Agency is entitled to act as a party of civil law relations on behalf of the state, in case if it is authorized for it in compliance with the RK legislation.

4. Regulation on the Agency, its structure and staff composition is approved by the President of the RK as advised by the Chairman of the Agency.

5. Legal address of the Agency: 050012, Almaty, 114, Zheltoksan st..
6. Full name of the Agency — state institution «Agency of the RK on Regulation of Activities of the Regional Financial Centre of Almaty city».

7. Charter document of the Agency is this Regulation.

8. Financing of the Agency activities is realized at the expense of state budget funds.
Agency is forbidden to enter into contractual relations with the enterprises for the purpose of accomplishing the functions of the Agency.

If the Agency is entitled by the RK legislative acts to perform the activities that bring in return, income is forwarded to state budget.

Paragraph 2. Basic tasks of the Agency

9. Basic tasks of the Agency are: 

Performing state powers, specified in the RK Law «On the regional financial centre of Almaty city» of June 5 2006; further development of the financial centre.

Paragraph 3. Essential functions and authorities of the Agency

10. The functions of the Agency as established by the RK legislation are: 

1) state registration (re-registration) of legal entities — participants of the financial centre;

2) petition for the issue of visas to foreigners and stateless persons who arrive to the territory of the Republic of Kazakhstan for the performance of activity at the financial centre in the procedure as established by the legislation of the Republic of Kazakhstan;

3) assistance to the participants of the financial centre in the selection of employees;

4) explanation to the participants of the financial centre of their rights and obligations;

5) state control over compliance by the participants of the financial centre with the labour legislation of the Republic of Kazakhstan;

6) representation of the financial centre in state organizations and other organizations;

7) maintenance of the state register of the participants of the financial centre;

8) registration of foreigners and stateless persons who perform labour activity in the financial centre and quarterly submission of information on the attraction of foreign workforce to the local executive body of the city of Almaty in accordance with the form established by the central executive body, which coordinates the implementation of state policy in the sphere of the population employment;

9) assistance to the participants of the financial centre in obtaining a license for the performance of brokers' and dealers' activity.

11. For the purpose of implementing its tasks and functions the Agency has the following powers:

1) to issue certificates of state registration (re-registration) of a legal entity, statistics cards, certificates of a taxpayer;

2) to approve the rules of state registration (re-registration) of legal entities — participants of the financial centre;

3) to act on behalf of the financial centre in relations with third parties;

4) to interact with state bodies and other organizations;

5) by agreement with the authorized state body for regulation and supervision over financial market and financial organizations to establish the requirements to the issuers whose securities are planned to be included or are included to a list of special trading floor of the financial centre, and also to such securities;

6) to approve a list of rating agencies whose rating rates are recognized by the authorized body;

7) to establish the requirements to the rating rates of securities and their issuers for admittance to a special trading floor of the financial centre;

8) to reimburse the expenses on the audit of the issuers of financial instruments admitted to a special trading floor of the financial centre in the procedure as established by the budget legislation of the Republic of Kazakhstan;

9) for admittance of financial instruments to a special trading floor of the financial centre to approve qualification requirements to the auditors' organizations by agreement with the authorized state body for the regulation and supervision of the financial market and financial organizations and the authorized body for the activities of auditor's and professional auditors' organizations;

10) to establish a list of stock exchanges recognized by the financial centre;

11) to execute agreements with stock exchanges of foreign states on the issues of interaction with the financial centre; and 

12) to conduct inspections as to the compliance by the participants of the financial centre with the labour legislation of the Republic of Kazakhstan.

13) to define the procedure and conditions of including financial instruments into the list of trade organizer of special trading floor of the financial centre and exclusion from it by agreement with the authorized body on regulation and supervision of financial market and financial organizations;

14) to establish the stock exchange in the territory of Almaty where special trading floor of the financial centre will be operating;

15) if necessary to handle the translation of documents, submitted to the state bodies, excluding the bodies of financial centre, by the financial centre participants from English into State and Russian languages;

16) to consider the administrative delinquency cases relating financial centre participants, specified in the first part of Paragraph 550 of the RK administrative delinquency Code dated January 30, 2001;

17) to determine the list of auditing organization, authorized to ratify the tax reports of the financial centre participants by the agreement with the authorized body on regulation and supervision of financial markets and financial organizations and authorized state body on regulation of auditing activities and control over the activities of auditing and professional auditing organizations;
18) to approve the form of notification and the procedure of its submission on performed state registration (re-registration) of legal entity, i.e. participant of the financial centre, to state statistics bodies.

Paragraph 4. Property of the Agency

12. Agency has got a separate property on the right of operational management.
Property of the state body is formed at the expense of property granted by the state.
13. The property assigned to the Agency, belongs to the republican property.
14. The agency has not the right to alienate independently the property assigned to it or deal with it in a different way.

Paragraph 5. The organization of activity of the Agency

15. The agency is headed by the Chairman appointed to a post and dismissed by the President of Republic Kazakhstan.

Chairman has two assistants appointed to posts and released from posts on his representation by the President of Republic Kazakhstan.

16. Chairman organizes the work of the Agency and bears the personal responsibility for activity of the Agency.

17. Chairman according to the legislation of Republic Kazakhstan:

1) carries out a management of the Agency;

2) without the power of attorney operates on behalf of the authorized body in relations with the third parties;
3) carries out acceptance, transfer and dismissal of employees of the Agency according to the legislation of Republic Kazakhstan;

4) defines the rights and duties of the deputy chairmen and heads of divisions of Agency;
5) within the limits of his powers passes orders and instructs, obligatory for execution by employees;
6) approves the list of staff of the Agency within the limits of the limit of regular number approved by the President of Republic Kazakhstan;

7) approves regulations on structural subdivisions of Agency;

8) issues powers of attorney to employees of the Agency for representation of interests of Agency;
9) concludes contracts on behalf of Agency;

10) signs financial and other reporting of Agency;

11) solves issues of encouragement, rendering of welfare and imposes summary punishments on employees of the Agency;

12) brings to the President of Republic Kazakhstan representation about rewarding employees of the Agency by state awards and assignment of honorary titles of the Republic Kazakhstan;

13) carries out other powers according to the legislation of Republic Kazakhstan.

18. In case of absence of Chairman of the Agency, his duties by the order of Chairman are executed by one of his deputies.

19. The agency independently carries out book keeping of administrative activity.
20. The International Council shall be permanently operating consulting-and-advisory body and shall be established at the authorized body.

21. The following shall be the basic tasks of the International Council:

1) development of recommendations on the use of the world experience in the matters related to the activity of the financial centre; recommendation of candidates to the top positions of the authorized body; participation in the development of the strategy of the financial centre development.

22. The membership of the International Council includes the leading experts of the financial sector. Foreigners may be members of the International Council.

23. The activities of the members of the International Council are carried out at the expense of funds provided for the financing of the authorized body.

24. The authorized body shall determine the regulations, procedure for the establishment and activity of the International Council.

Paragraph 6. Reorganization and liquidation of Agency

25. Reorganization and liquidation of Agency are carried out according to the legislation of the Republic Kazakhstan.