Article 17. Interaction of participants of the State educational accumulative system in the calculation and accrual of the state premium The Law On the State Educational Accumulative System

Home / Laws / Article 17. Interaction of participants of the State educational accumulative system in the calculation and accrual of the state premium The Law On the State Educational Accumulative System

1. Every year, by April 1 of this year, the operator, based on information provided by participating banks under deposit agreements, submits to the authorized body in the field of science and higher education forecast calculations of government premiums for the upcoming financial year.

2. Following the results of the reporting year, the operator, after receiving the necessary information from authorized bodies in the field of social protection of the population, protection of children's rights, and documentation and issuance of passports and identity cards, submits the final calculation of state awards to the authorized body in the field of science and higher education by January 15 of the year following the reporting year.

3. The authorized body in the field of science and higher education, after receiving from the operator the final calculation of the amount of state awards by February 15 of the year following the reporting year, transfers the total amount of state awards to the operator's account in accordance with the procedure established by the legislation of the Republic of Kazakhstan.

4. Within five working days from the date of receipt from the authorized body in the field of science and higher education of the total amount of state awards, the operator shall transfer the state award to the participating bank with information on the amount of the state award for each concluded contribution agreement.

5. The participating bank shall credit the state's premiums to depositors' accounts within two business days from the date of receipt of the total amount of the state's premiums from the operator.

6. At the end of the financial year, if facts are identified that lead to the need to add additional state premiums for previous reporting years, the operator shall include the additional amounts in the final calculation of State premiums for the reporting year in accordance with the procedure provided for in paragraph 2 of this article.

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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