Article 15. Cooperation Agreement The Law On the State Educational Accumulative System

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1. In order to participate in the State Educational Funded System, the participating bank enters into a cooperation agreement with the operator based on a standard cooperation agreement.

2. The following requirements apply to participating banks::

1) the availability of licenses from the authorized body for regulation, control and supervision of the financial market and financial organizations for accepting deposits, opening and maintaining bank accounts of individuals, and conducting cash transactions;

2) participation in the mandatory deposit guarantee system;

3) excluded by the Law of the Republic of Kazakhstan dated 05.07.2017 No. 88-VI (effective after ten calendar days after its first official publication);

4) the absence of effective supervisory response measures applied by the authorized body for regulation, control and supervision of the financial market and financial organizations, and (or) administrative penalties for administrative offenses provided for in parts six, eight of Article 213, Article 227 of the Code of the Republic of Kazakhstan on Administrative Offenses at the time of conclusion (renegotiation) of the cooperation agreement.

The requirements of subparagraph 1) on the availability of a license for cash transactions and subparagraph 2) of the first part of this paragraph do not apply to the National Postal Operator.

3. The operator enters into a cooperation agreement with a participating educational organization, the payment of which is carried out at the expense of an educational funded contribution, based on a standard cooperation agreement.

4. The cooperation agreement must contain the subject matter, the rights and obligations of the parties, the conditions, the procedure for their interaction and responsibility.

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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