Article 17. Founders and shareholders of the Bank of the Law on Banks and Banking Activities in the Republic of Kazakhstan
1. The founders and shareholders of the bank may be legal entities and individuals - residents and non-residents of the Republic of Kazakhstan (subject to the restrictions established by paragraph 5 of this Article and Article 18 of this Law).
2. The state may be the founder and shareholder of the bank only in the person of the Government of the Republic of Kazakhstan, except for the cases provided for in this article. State-owned enterprises and organizations with more than fifty percent of the shares in the authorized capital or outstanding shares owned by the state may not be founders and shareholders of the bank, with the exception of the national management holding, an organization specializing in improving the quality of loan portfolios of second-tier banks, and subsidiaries of the National Bank of the Republic of Kazakhstan.
The authorized body may be the sole founder of the stabilization bank in order to carry out the transfer of assets and liabilities of the bank provided for in Articles 61-12 of this Law.
3. (deleted - No. 162 dated 2.03.01)
4. In order to protect the interests of the bank's creditors and ensure the stability of the banking system of the Republic of Kazakhstan in the event that the measures taken by the authorized body did not lead to an improvement in the financial condition of the bank.:
1) in case of a single violation by the bank of the equity capital adequacy ratio and (or) the liquidity ratio, or violation of other prudential standards and (or) other mandatory standards and limits two or more times within twelve consecutive calendar months, the Government of the Republic of Kazakhstan, on the proposal of the authorized body, has the right to make a decision on the acquisition by the Government of the Republic of Kazakhstan or the national the managing holding of the declared shares of the bank in the amount of, necessary to improve its financial condition and the bank's compliance with prudential standards and (or) other mandatory standards and limits, in accordance with the procedure provided for in Article 17-2 of this Law.;
2) if the bank has a negative amount of capital, the authorized body has the right to carry out a compulsory repurchase of the bank's shares, subject to their mandatory subsequent immediate sale at the purchase price to a new investor who guarantees the necessary improvement in the bank's financial situation.
5. Legal entities registered in offshore zones, the list of which is established by the authorized body, may not directly or indirectly own and (or) use and (or) dispose of voting shares of resident banks of the Republic of Kazakhstan.
This restriction does not apply to banks that are subsidiaries of non-resident banks of the Republic of Kazakhstan that have the minimum required rating from one of the rating agencies.
The list of rating agencies and the minimum required rating are determined by the authorized body.
The requirements of this paragraph do not apply to cases of forced restructuring of the obligations of an insolvent bank in accordance with articles 61-10 of this Law.
5-1. A shareholder participating in the general meeting of shareholders shall submit a statement indicating that the requirements of paragraph 5 of this Article have been fulfilled by its shareholders (participants), if information about the country of registration of such shareholders (participants) is not available in the bank.
A shareholder who has not submitted the specified statement is not allowed to participate in the general meeting of shareholders.
If the information specified in the application is found to be unreliable, or if a violation of the requirement specified in paragraph 5 of this Article is detected.:
1) if the majority of the voting shares voted for the decision (excluding the voting shares of the shareholder who submitted the application), the decision of the general meeting of shareholders is considered adopted without taking into account the votes of this shareholder.;
2) if the vote of the shareholder who submitted the application was decisive, this circumstance is the basis for invalidating the decision of the general meeting of shareholders at the request of the authorized body or other interested persons in accordance with the procedure established by the legislation of the Republic of Kazakhstan.
6. (Deleted - No. 107 dated December 23, 2005 (for the procedure of entry into force, see art. 2 of Law No. 107)
7. Persons who directly or indirectly own the bank's shares or influence the decisions taken by the bank's shareholder, with the exception of the national managing holding company, are required, at the request of the authorized body, to submit the constituent documents and other information necessary to determine the major participants of the bank and their financial condition.
The footnote. Article 17 as amended by Decree of the President of the Republic of Kazakhstan, which has the force of Law, dated 01/27/1996 N 2830; laws of the Republic of Kazakhstan dated 12/17/1996 N 50; dated 07/11/1997 N 154; dated 06/29/1998 N 236; dated 07/10/1998 N 282; dated 07/16/1999 N 436; dated 03/02/2001 N 162 (see art. 2); dated 04/25/2001 N 179; dated 10.07.2003 N 483 (effective from 01.01.2004); dated 08.07.2005 N 72 (for the procedure of entry into force, see art. 2); dated 07.07.2006 N 178 (effective from the date of its official publication); dated 19.02.2007 N 230 (for the procedure of entry into force, see art. 2); dated 23.10.2008 N 72-IV (for the procedure of implementation, see 2); from 12.02.2009 N 133-IV (for the procedure of entry into force, see art. 2); from 13.02.2009 N 135-IV (for the procedure of entry into force, see art. 3); from 11.07.2009 N 185-IV (effective from 30.08.2009); from 01.03.2011 No. 414-IV (effective from 01.01.2010); from 27.02.2017 No. 49-VI (effective after ten calendar days after the date of its first official publication); from 02.07.2018 No. 168-VI (effective from 01.01.2019).
The Law of the Republic of Kazakhstan dated August 31, 1995 No. 2444.
President of the Republic of Kazakhstan
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