Article 20. The law on the reorganization (merger, merger, division, division, reorganization) of a payment organization and payment systems
1.voluntary reorganization (merger, merger, division, divestment, reorganization) of payment organizations may be carried out by decision of shareholders (participants) of payment organizations with the consent of the National Bank of the Republic of Kazakhstan.
2.reorganization of payment organizations of the first category is carried out in accordance with the procedure provided for by the laws of the Republic of Kazakhstan.
3. when making a decision on a voluntary reorganization of a payment Organization of the second category, the National Bank of the Republic of Kazakhstan is recommended for approval:
1) decision on voluntary reorganization of the payment organization;
2) documents describing the estimated conditions, forms, procedure and terms of voluntary reorganization of a payment organization;
3) agreement on merger (accession) signed by the heads of executive bodies of reorganized payment organizations;
4) audit report in accordance with the legislation of the Republic of Kazakhstan on audit activities;
5) rules for carrying out activities created as a result of voluntary reorganization of a payment organization.
4.the National Bank of the Republic of Kazakhstan considers the submitted documents specified in Paragraph 2 of this article and sends a written notification of the decision made within ten working days from the date of their submission.
5.payment organizations of the second category being reorganized are obliged, within fifteen calendar days from the date of obtaining the consent of the National Bank of the Republic of Kazakhstan to conduct a voluntary reorganization, to notify all their clients and providers of payment services by publishing a corresponding announcement in the mass media, including on their internet resource.
6.registration of a payment Organization of the second category, created as a result of voluntary reorganization, is carried out in accordance with the requirements of this law and the regulatory legal act of the National Bank of the Republic of Kazakhstan.
7.exclusion from the Register of reorganized payment organizations is carried out simultaneously on the day when a voluntary reorganized payment Organization of the second category is included in the Register of payment organizations.
8. National Bank Of The Republic Of Kazakhstan:
1) the head of the executive body of a payment organization created as a result of voluntary reorganization does not meet the requirements of Article 19 of this law;
2) consent to the voluntary reorganization of payment organizations of the second category in cases where the voluntary reorganization of payment organizations interferes with the implementation of control and supervision over the market of payment services provided, as well as harms the interests of recipients of payment services provided.
The Law of the Republic of Kazakhstan dated July 26, 2016 No. 11-VI SAM.
The article was amended and supplemented by the Law of the Republic of Kazakhstan dated July 23, 2026, No. 352-VIII SAM.
This Law regulates public relations arising in the field of organization and functioning of payment systems, regulation of payment systems and supervision (oversight) of them, regulation of the payment services market and control over it, as well as the implementation of payments and (or) money transfers in the Republic of Kazakhstan.
President
Republic of Kazakhstan
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