Article 14. Return of the state's premium to the budget The Law On the State Educational Accumulative System

Home / Laws / Article 14. Return of the state's premium to the budget The Law On the State Educational Accumulative System

1. The accrued premium of the state is subject to refund to the budget in the following cases::

1) termination, on the initiative of the depositor, of the deposit agreement or termination of obligations under the deposit agreement due to the expiration of the term without observing the intended purpose, except for the cases provided for in Articles 11 and 11-1 of this Law;

2) the expiration of three calendar years from the date of the depositor's expulsion from the participating educational organization, if during these three years the depositor has not been reinstated in the expelled participating educational organization or has not enrolled in another participating educational organization.;

3) the discovery of the fact of payment of the state premium when the accumulation period is less than the period established by this Law;

4) loss of citizenship of the Republic of Kazakhstan by the depositor;

5) the discovery of the fact of an excessively accrued state premium.

2. The return of the state's premium to the budget is carried out by the participating bank through the operator based on its statement of the amount of the state's premium to be returned to the budget, within three banking days from the date of receipt by the participating bank of the statement from the operator.:

1) on the grounds provided for in subparagraphs 1), 2) and 3) of paragraph 1 of this Article, the amount of the accrued premium of the State in full;

2) on the grounds provided for in subparagraph 4) paragraph 1 of this article, in terms of the amount not used for educational services, in accordance with the methodology for calculating the state premium;

3) on the basis provided for in subparagraph 5) of paragraph 1 of this Article, the amount of the excessively accrued premium of the State.

3. When a depositor is expelled from a participating educational organization, the amount not used for educational services must be transferred by the participating educational organization to the depositor's educational savings account within three working days from the date of issuing the withdrawal order.

The Law of the Republic of Kazakhstan dated January 14, 2013 No. 67-V.

This Law regulates public relations in the sphere of functioning of the State Educational Accumulative System, as well as the conditions, forms and content of its state stimulation.

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Republic of Kazakhstan

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