Article 101. General provisions on the Interim Administration for the Management of the Bank of the Law on Banks and Banking Activities in the Republic Kazakhstan

Home / Laws / Article 101. General provisions on the Interim Administration for the Management of the Bank of the Law on Banks and Banking Activities in the Republic Kazakhstan

1. The interim Administration for the management of the bank is a temporary management body of the bank, appointed by the authorized body in the following cases::

1) the application of the financial stability restoration regime in order to ensure effective management of the bank, protect the rights and legitimate interests of depositors, other creditors and clients of the bank, as well as to prevent further deterioration of the financial situation of the bank;

2) the application of a settlement regime in order to establish full control over the bank and apply settlement instruments to such a bank.

2. From the date of appointment of the interim administration for the management of the bank until the termination of the financial stability restoration or settlement regime:

1) the exercise of all the rights of the bank's shareholders to use and dispose of the bank's shares is suspended;

2) the powers of the bank's bodies are suspended;

3) senior bank employees are suspended from work;

4) all powers of the bank's bodies, as well as the rights of the bank's shareholders, are transferred to the interim administration for the management of the bank;

5) all transactions made on behalf of and at the expense of the bank by its shareholders, bank authorities, bank executives or other persons, with the exception of the interim administration for the management of the bank, shall be deemed invalid.

3. The interim management administration of the bank is appointed by the authorized body from among its employees, representatives of the organization providing mandatory deposit guarantee, and (or) other persons who meet the minimum requirements established by Article 9-4 of the Law of the Republic of Kazakhstan "On State Regulation, Control and Supervision of the Financial Market and Financial Organizations."

4. Expenses related to the activities of the interim administration for the management of the bank are covered by money and (or) other assets of the bank.

It is prohibited for the authorized body to finance expenses related to the activities of the interim administration for the management of the bank, with the exception of expenses related to the remuneration of employees of the authorized body included in the interim administration for the management of the bank, as well as expenses related to the publication of the decision of the authorized body on the application of the settlement regime to the bank in cases of absence of the bank's property or if the value of the bank's property insufficient to cover these expenses.

5. The procedure for the appointment and activities of the interim administration for the management of the bank, as well as the list, forms, deadlines and procedure for the provision of reports and other information by the interim administration for the management of the bank to the authorized body are determined by a regulatory legal act of the authorized body.

The Law of the Republic of Kazakhstan dated January 16, 2026 No. 258-VIII SAM.

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