Article 6. The relationship of the state bodies of the Republic of Kazakhstan with the Development Bank of the Law On the Development Bank of Kazakhstan

Home / RLA / Article 6. The relationship of the state bodies of the Republic of Kazakhstan with the Development Bank of the Law On the Development Bank of Kazakhstan

1. The Authorized Body for Regulation, Control and Supervision of the Financial Market and Financial Organizations and the National Bank of the Republic of Kazakhstan, within the limits of their powers established by the legislation of the Republic of Kazakhstan, monitor the implementation by the Development Bank of the legislation of the Republic of Kazakhstan regulating the activities of financial organizations, with the exception of regulatory legal acts on prudential regulation of banks, banking conglomerates and reserve requirements, coordination management personnel, asset classification, contingent liabilities and the creation of provisions (reserves) against them, requirements for the formation of a risk management and internal control system, the issuance (revocation) of permission to establish or acquire a subsidiary, as well as for significant participation in the capital of legal entities, including non-residents, for the purposes of organizing borrowing and financing.

2. Interference in any form by state bodies and their officials in the activities of the Development Bank is prohibited, except in cases provided for by legislative acts of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated April 25, 2001 No. 178.

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