Article 14. Consequences of changing the name of a bank participating in the Law on Mandatory Deposit Guarantee Placed in Second-tier Banks of the Republic of Kazakhstan

Home / RLA / Article 14. Consequences of changing the name of a bank participating in the Law on Mandatory Deposit Guarantee Placed in Second-tier Banks of the Republic of Kazakhstan

1. The participating bank shall notify the organization providing mandatory deposit guarantee in writing of the change in its name within five working days from the date of receipt of the certificate of state re-registration (on accounting re-registration).

2. In the event of a change in the name of the participating bank, the organization providing mandatory deposit guarantee shall, within two working days from the date of receipt of the supporting documents from the participating bank, make appropriate changes to the register of banks participating in the mandatory deposit guarantee system.

The Law of the Republic of Kazakhstan dated July 7, 2006 No. 169-III.

This Law is aimed at protecting the rights of depositors – individuals, including individual business entities, and defines the legal basis for the functioning of the mandatory deposit guarantee system placed in second-tier banks of the Republic of Kazakhstan (branches of non-resident banks of the Republic of Kazakhstan), with the exception of interest-free demand deposits and investment deposits placed in Islamic banks (branches of non-resident Islamic banks of the Republic of Kazakhstan), the procedure for establishing and operating an organization that provides mandatory deposit insurance, the participation of second-tier banks of the Republic of Kazakhstan (branches of non-resident banks of the Republic of Kazakhstan) in the mandatory deposit guarantee system, as well as other issues of mutual relations between the participants of the system.

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