Article 127. Liquidation Commission of the Law on Banks and Banking Activities in the Republic of Kazakhstan forcibly terminating the activities of a branch of a non–resident bank of the Republic of Kazakhstan Kazakhstan
From the date of revocation of the banking license of a branch of a non–resident bank of the Republic of Kazakhstan for carrying out all types of operations, the authorized body appoints the liquidation commission of the branch of a non–resident bank of the Republic of Kazakhstan, which carries out the procedure for the compulsory termination of the activities of a branch of a non–resident bank of the Republic of Kazakhstan.
The liquidation commission of a branch of a non–resident bank of the Republic of Kazakhstan that is forcibly ceasing operations takes measures to ensure settlements with its creditors.
The procedure for the appointment and dismissal of liquidation commissions forcibly terminating the activities of branches of non–resident banks of the Republic of Kazakhstan, the requirements for the chairman and members of the liquidation commission, as well as the procedure for the compulsory termination of the activities of a branch of a non–resident bank of the Republic of Kazakhstan and the requirements for the work of liquidation commissions are determined by regulatory legal acts of the authorized body.
The rights and duties of the chairman and members of the liquidation commission, including the right to remuneration, the scope of powers to manage the affairs and property of a branch of a non–resident bank of the Republic of Kazakhstan that is being forcibly terminated, are regulated by regulatory legal acts of the authorized body and an agreement concluded by the liquidation commission with the creditors' committee, taking into account the requirements established by the legislation of the Republic of Kazakhstan.
The monthly amount of remuneration paid to the chairman, members of the liquidation commission of a branch of a non–resident bank of the Republic of Kazakhstan and other involved employees should not exceed for each of them the amount of ten times the minimum wage established by the law on the republican budget and effective on January 1 of the relevant financial year.
The Law of the Republic of Kazakhstan dated January 16, 2026 No. 258-VIII SAM.
President
Republic of Kazakhstan
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