Article 2. The relations regulated by this Law of the Law on Insurance Activity

Home / RLA / Article 2. The relations regulated by this Law of the Law on Insurance Activity

1. This Law defines the main provisions on the implementation of insurance as a type of entrepreneurial activity, the specifics of the establishment, licensing, regulation, termination of insurance (reinsurance) organizations, insurance brokers, the specifics of opening, licensing, regulation, termination of branches of insurance (reinsurance) organizations-non-residents of the Republic of Kazakhstan, branches of insurance brokers-non-residents of the Republic of Kazakhstan, conditions activities in the insurance market of other individuals and legal entities, objectives of state regulation of the insurance market and principles of ensuring control and supervision of insurance activities.

2. Regulatory legal acts of the authorized body for regulation, control and supervision of the financial market and financial organizations (hereinafter referred to as the authorized body) and the National Bank of the Republic of Kazakhstan (hereinafter referred to as the National Bank), adopted in accordance with this Law, are mandatory for all participants in the insurance market.

3. Insurance (reinsurance) organizations, insurance brokers and other legal entities operating under the special regulatory regime introduced in accordance with the Law of the Republic of Kazakhstan "On State Regulation, Control and Supervision of the Financial Market and Financial Organizations", the norms of this Law and regulatory legal acts of the authorized body, the National Bank, adopted in accordance with by this Law, they are distributed within the limits stipulated by the conditions of the special regulatory regime.

4. The provisions of this Law applicable to insurance (reinsurance) organizations, insurance brokers (with the exception of Articles 10-1, 10-2, 10-3, 13, 16-2, 16-3, 21, 24, 25, 25-1, 26, 26-1, 27, 28, 30, 31, 32, 35, 40, 48, 49, 50, 51, 52, 52-3, 53-4, 62, 63, 65, 68, 69, 71, 72, 73, 74-1), They apply to branches of insurance (reinsurance) organizations that are non–residents of the Republic of Kazakhstan, branches of insurance brokers that are non–residents of the Republic of Kazakhstan, taking into account the specifics established by this Law..

The powers of the authorized body and the National Bank in the field of regulating legal relations related to insurance (reinsurance) organizations and insurance brokers, including the authority to adopt regulatory legal acts for the purpose of implementing this Law, provided for in Articles 6, 9, 11-1, 12, 15-1, 15-2, 16, 17, 18, 18-1, 19, 20, 31-1, 34, 36-2, 36-3, 37, 37-1, 46, 47, 52-1, 53, 53-1, 54-1, 55-2, 56, 72-1, 75, 75-1, 77, 79, 81, 82 The provisions of this Law apply to legal relations related to branches of insurance (reinsurance) organizations. – non–residents of the Republic of Kazakhstan, branches of insurance brokers who are non-residents of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated December 18, 2000 No. 126.

President

Republic of Kazakhstan

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases