Article 20-3. Termination of the employment contract with employees of the National Bank of Kazakhstan and its departments of the Law On the National Bank of the Republic of Kazakhstan

Home / Laws / Article 20-3. Termination of the employment contract with employees of the National Bank of Kazakhstan and its departments of the Law On the National Bank of the Republic of Kazakhstan

Termination of an employment contract with employees of the National Bank of Kazakhstan and its departments 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 at the National Bank of Kazakhstan and its departments;

3) negative results of mandatory special inspection;

4) providing deliberately false information about his 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) when applying to the National Bank of Kazakhstan and its departments, knowingly false documents or information that could be grounds for refusal of employment;

8) negative certification results;

8-1) transfer to another state body in connection with the transfer of functions, powers and (or) staff units of the National Bank of Kazakhstan, including during its liquidation (abolition) or reorganization, to another state body;

8-2) refusal to transfer to the state body to which the functions, powers and (or) staff units of the National Bank of Kazakhstan have been transferred, including during its liquidation (abolition) or reorganization;

9) for other reasons stipulated by the laws of the Republic of Kazakhstan.

The state body to which the functions, powers and (or) staff units of the National Bank of Kazakhstan have been transferred, including during its liquidation (abolition) or reorganization, offers positions to employees of the National Bank of Kazakhstan who performed the transferred functions, powers and (or) occupied these staff units, in accordance with their qualifications. In the absence of an equivalent position, with the consent of an employee of the National Bank of Kazakhstan, he may be offered a lower-level position provided for in the staffing table of the state body.

Upon termination of an employment contract on the basis of a reduction in the number or staff of employees of the National Bank of Kazakhstan, an employee of the National Bank of Kazakhstan holding a reduced position is paid severance pay in the amount of four average monthly salaries if he has at least three years of work experience.

The footnote. Article 20-3 as amended by the Laws of the Republic of Kazakhstan dated 18.11.2015 No. 411-V (effective from 01.01.2016); dated 03.07.2019 No. 262-VI (effective from 01.01.2020); dated 23.12.2023 No. 51-VIII (effective after ten calendar days after the date of its first official publication).

The Law of the Republic of Kazakhstan dated March 30, 1995 No. 2155.

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