Article 15-12. Termination of the employment contract with employees of the authorized body of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations
Termination of the employment contract with employees of the authorized body is carried out on the following grounds:
1) provided by the Labor Code of the Republic of Kazakhstan;
2) reaching the retirement age established by the law of the Republic of Kazakhstan, with the right to annually extend their stay in the authorized body;
3) negative results of mandatory special inspection;
4) knowingly providing false information about their income and property;
5) non-compliance with anti-corruption duties and restrictions established by this Law and the Law of the Republic of Kazakhstan "On Combating Corruption";
6) non-transfer to trust management of owned units of investment funds, bonds and shares of commercial organizations;
7) submission of knowingly false documents or information upon admission to the authorized body, which could be grounds for refusal of employment;
8) negative certification results;
9) other grounds stipulated by the laws of the Republic of Kazakhstan.
Upon termination of an employment contract on the basis of a reduction in the number or staff of employees of an authorized body, an employee of the authorized body holding a reduced position is paid a severance payment in the amount of four average monthly salaries if he has at least three years of work experience.
The Law of the Republic of Kazakhstan dated July 4, 2003 No. 474-II.
This Law regulates public relations related to the implementation of state regulation, control and supervision of the financial market and financial organizations, and is aimed at increasing the stability of the financial system of the Republic of Kazakhstan and creating conditions to prevent violations of the rights and legitimate interests of consumers of financial services.
President
Republic of Kazakhstan
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