Article 8. General Meeting of participants of the Credit Partnership of the Law on Credit Partnerships

Home / RLA / Article 8. General Meeting of participants of the Credit Partnership of the Law on Credit Partnerships

1. The procedure for holding a general meeting of participants in a credit partnership is provided for in the charter of the credit partnership.

The annual meeting of the members of the credit partnership is held no later than three months after the end of the financial year.

In addition to the annual meetings, extraordinary meetings may be held, convened on the initiative of the board of the credit partnership or at least twenty-five percent of the participants in the credit partnership.

The General Meeting makes decisions corresponding to the statutory goals and objectives of the credit partnership and this Law, cancels or approves the decisions of the management Board.

1-1. The procedure and terms of convocation of the general meeting of the participants of the credit partnership are provided for in the charter of the credit partnership. If the charter does not provide for the procedure and terms for convening a general meeting of participants in a credit partnership, the notice of holding a general meeting of participants in a credit partnership must be published in a periodical specified in the charter of the credit partnership or on the Internet resource of the credit partnership, sent by registered mail, telegram with delivery notification, telephone message, short text messages via cellular communication channels or e-mail, as well as using other means of communication that ensure the recording of the notification., no later than ten working days before the opening of the general meeting of the participants of the credit partnership.

2. The exclusive competence of the general meeting of participants of the credit partnership, in addition to issues stipulated by other legislative acts of the Republic of Kazakhstan, includes decision-making:

1) on the conclusion by the partnership of a transaction or a set of interrelated transactions, as a result of which the partnership acquires or alienates property, the value of which is twenty-five percent or more of the total value of the partnership's assets;

2) to increase the partnership's obligations by an amount amounting to twenty-five percent or more of its equity capital;

3) about the direction of the credit partnership's activities;

4) on the definition of the credit and investment policy of the credit partnership;

5) on the remuneration procedure for members of the Management Board, the Audit commission (auditor) and other employees of the credit partnership;

6) on establishing the procedure for making and withdrawing additional contributions by participants;

7) on the procedure for writing off the assets of the credit partnership;

8) on the procedure for acceptance and withdrawal of participants from the credit partnership;

9) approval of the annual cost and income estimates and the report on its execution;

10) on the formation of accounting policy;

11) approval of the annual financial statements;

12) for other matters.

The Law of the Republic of Kazakhstan dated March 28, 2003 N 400.

This Law defines the legal status, the procedure for the creation, reorganization and liquidation, as well as the regulation of the activities of credit partnerships.

President

Republic of Kazakhstan

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