Article 224. Violations related to the illegal acquisition of shares in the authorized capitals of legal entities or shares by banks, insurance (reinsurance) organizations, bank holdings, insurance holdings of the Code of the Republic of Kazakhstan On Administrative Offenses

Home / Codes / Article 224. Violations related to the illegal acquisition of shares in the authorized capitals of legal entities or shares by banks, insurance (reinsurance) organizations, bank holdings, insurance holdings of the Code of the Republic of Kazakhstan On Administrative Offenses

Article 224. Violations related to the illegal acquisition of shares in the authorized capitals of legal entities or shares by banks, insurance (reinsurance) organizations, bank holdings, insurance holdings of the Code of the Republic of Kazakhstan On Administrative Offenses

1. Acquisition of shares in the authorized capitals of legal entities or shares by banks, insurance (reinsurance) organizations in violation of the requirements of the legislative acts of the Republic of Kazakhstan, with the exception of the acts provided for in part three of this Article, –

entails a fine on legal entities in the amount of two thousand monthly calculation indices.

2. Acquisition of shares in the authorized capitals of legal entities or shares by bank holding companies, insurance holding companies in violation of the requirements of the legislative acts of the Republic of Kazakhstan, with the exception of the acts provided for in part three of this Article, –

entails a fine on legal entities in the amount of two thousand monthly calculation indices.

3. Creation or acquisition by a bank, insurance (reinsurance) organization, bank holding company, insurance holding company of a subsidiary organization without the prior permission of the authorized body for regulation, control and supervision of the financial market and financial organizations –

entails a fine on legal entities in the amount of two thousand monthly calculation indices.

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