Article 11. Administration of the Center of the Constitutional Law of the Republic of Kazakhstan On the Astana International Financial Center

     1. The administration of the Center is a non-profit organization established by the National Bank of the Republic of Kazakhstan, which provides conditions for the activities of the bodies, their organizations and participants of the Center, as well as their employees and represents their interests within its competence.

     2. The administration of the Center has its own budget, formed from the funds of the republican budget in the form of targeted transfers in accordance with the budget legislation of the Republic of Kazakhstan, fees and payments made by the participants of the Center, as well as other sources not prohibited by the acts of the Center.

     The administration of the Center has the right to create reserves by saving funds provided for in this paragraph. The procedure and conditions for the creation of reserves, as well as their use, are determined by the acts of the Center.

     2-1. The targeted transfer received by the administration of the Center from the budget in accordance with paragraph 2 of this article, including in the case of savings in these budgetary funds, is used for the purpose of acquiring long-term assets, ensuring and financing the activities of the Center's bodies and their organizations.

     3. The governing body of the Center's administration is the Board of Directors. The management Board, headed by the Chairman, manages the current activities of the Center's administration.

     The powers of the general meeting of shareholders (the sole shareholder), the Board of Directors and the Management Board, the quantitative composition of the Board of Directors and the Management Board, the procedure for their election and the term of office of the members, as well as the procedure for determining the amount of remuneration for members of the Board of Directors and the Management Board are determined by the Board.

     4. The administration of the Center has the following powers:

     1) in coordination with the Financial Services Regulatory Committee of the Center, make proposals to the Council on defining the development strategy of the Center, with the exception of regulating financial services and related activities in the Center.;

     2) reports to the Council on the implementation of the approved development strategy of the Center and submits to the Council for approval an annual report on the activities of the Center;

     3) takes measures against the members of the Center on the grounds and in accordance with the procedure determined by the Council;

     4) develops draft resolutions of the Council, coordinates them with the Committee of the Center for Regulation of Financial Services, submits them for public discussion and submits them to the Council for adoption;

     5) adopt acts in the form of regulatory provisions on issues not related to the regulation of financial services and related activities in the Center;

     6) prepares and approves the annual and medium-term budgets of the Center;

     7) makes proposals to the Council on the creation of subsidiary and other bodies necessary for the purposes of the Center, their abolition or reorganization;

     8) establishes and ensures the development of relations with other international and regional financial centers, development institutions and other organizations in order to achieve the goals of the Center and organize its operations, and therefore concludes any agreements, agreements, contracts, with the exception of those related to the powers of other bodies of the Center;

     9) provides assistance in obtaining visas for employees of the participants or bodies of the Center and attracting labor by the participants of the Center;

     10) has other powers determined by resolutions of the Council.

Constitutional Law of the Republic of Kazakhstan dated December 7, 2015 No. 438-V SAM.

President    

Republic of Kazakhstan     

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