Article 74-2. The order of satisfaction of creditors' claims of the forcibly liquidated bank of the Law on Banks and Banking Activities in the Republic of Kazakhstan  -The Law of the Republic of Kazakhstan dated August 31, 1995 No. 2444. On banks and banking activities, with the introduction of the Law of the Republic of Kazakhstan dated January 16, 2026 No. 258-VIII, the SAM has lost its legal force. 

     1. The claims of creditors of a bank being forcibly liquidated, including in connection with its bankruptcy, shall be satisfied in accordance with the procedure established by this article.  

     2. Expenses related to liquidation proceedings, including ensuring the activities of the bank's liquidation commission, are incurred out of turn.  

     3. Creditors' claims, recognized in accordance with the established procedure, must be satisfied in the following order:

     1) first of all, the requirements are met:

     individuals to whom the forcibly liquidated bank is responsible for causing harm to life or health by capitalizing the corresponding time-based payments, for the payment of alimony deducted from wages and (or) other income;  

     remuneration and compensation for persons who worked under an employment contract, with the exception of senior employees of a bank being forcibly liquidated, arrears in social contributions to the State Social Insurance Fund, payment of mandatory pension contributions withheld from wages, payment of mandatory pension contributions from the employer, mandatory professional pension contributions, as well as remuneration under copyright agreements;

     2) in the second place, the requirements of the organization providing mandatory deposit guarantees are satisfied in terms of the amount of compensation paid (paid) by it for guaranteed deposits and the amount of the difference made up between the size of the bank's property and the amount of obligations under guaranteed deposits transferred to another (other) bank(s) as part of the simultaneous transfer of assets and liabilities a bank that is being forcibly liquidated;

     3) in the third place, the claims for obligations secured by the pledge of the property of the bank being forcibly liquidated are satisfied in an amount not exceeding the value of the pledged property, as well as the claims of the clearing organization performing the functions of the central counterparty that arose as a result of transactions involving the central counterparty previously concluded and not executed by the bank being forcibly liquidated, which is a clearing participant in this clearing organization. In case of receiving an insurance payment for the loss or damage of the pledged property, the claims of the collateral creditors are not subject to satisfaction in the part covered by the insurance payment. In case of loss of the pledged property, the outstanding part of these claims must be repaid within the framework of the eighth stage.;

     4) in the fourth row, the requirements for deposits of individuals who are not persons associated with a special relationship with a bank being forcibly liquidated, including interest-free demand deposits placed in a forcibly liquidated Islamic bank, and money transfers, as well as requirements for deposits made at the expense of pension assets, deposits of insurance organizations, operating in the life insurance industry;

     5) fifth, settlements are made with non-profit organizations engaged exclusively in charity, organizations of veterans of the Great Patriotic War, organizations of veterans who have equal benefits to veterans of the Great Patriotic War, and organizations of veterans of military operations on the territory of other states, the Voluntary Society of Persons with Disabilities of the Republic of Kazakhstan, the Kazakh Society for the Blind, the Kazakh Society for the Deaf, and industrial organizations owned by these legal entities and created at their expense, by other organizations of persons with disabilities according to their available funds in bank accounts and deposited;

     6) the sixth priority is to satisfy the requirements for deposits of legal entities that are not persons associated with a special relationship with a bank being forcibly liquidated.;

     7) in the seventh turn, arrears on taxes, fees and other mandatory payments to the budget, as well as on repayment of loans issued at the expense of the republican budget and the National Fund of the Republic of Kazakhstan, are repaid.;

     8) in the eighth turn, settlements are made with other creditors in accordance with the laws of the Republic of Kazakhstan, including satisfying creditors' claims for obligations secured by a pledge of the property of a bank being forcibly liquidated, in excess of the amount of insurance payments made to it in accordance with the third turn.;

     9) in the ninth turn, the claims of creditors are satisfied – individuals and legal entities who are persons associated with a special relationship with a bank being forcibly liquidated, in part of the amount not covered by the organization providing mandatory deposit guarantees, due to compensation for guaranteed deposits.;

     10) in the tenth turn, settlements are made on subordinated debt and perpetual financial instruments of the forcibly liquidated bank.

     4. The requirements of each queue are satisfied after the requirements of the previous queue are fully satisfied.  

     The creditor's claim, with his consent, may be satisfied in ways that do not contradict the legislation of the Republic of Kazakhstan, including in cash and (or) through the transfer of property in kind.  

     When the claims of creditors of one queue are satisfied, the money and (or) other property of the liquidated bank are distributed simultaneously among the creditors of this queue in proportion to the amounts of claims to be satisfied.

The Law of the Republic of Kazakhstan dated August 31, 1995 No. 2444.

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