Article 50. Refusal to issue a permit for the voluntary liquidation of the voluntary accumulative pension fund of the Social Code of the Republic of Kazakhstan
A refusal to grant permission from the authorized body for regulation, control and supervision of the financial market and financial organizations for the voluntary liquidation of a voluntary accumulative pension fund is made on any of the following grounds:
1) the documents submitted for obtaining permission from the authorized body for regulation, control and supervision of the financial market and financial organizations for liquidation do not comply with the requirements of the legislation of the Republic of Kazakhstan;
2) availability of obligations and existing agreements on licensed types of activities;
3) insufficient funds to meet the claims of all creditors of the voluntary accumulative pension fund.
President
Republic of Kazakhstan
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