Article 20. Money Management of the National Welfare Fund Act

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1. The Fund implements a unified policy for managing the money of the Fund and legal entities, all voting shares (participation interests) of which belong to the Fund, approved by the Board of Directors of the Fund.

2. Organizations belonging to the Fund's group have the right to provide loans (loans) in cash to other organizations, including those belonging to the Fund's group, on the terms of payment, urgency and repayment.

3. The procedure and conditions for granting loans specified in paragraph 2 of this Article shall be determined by the internal credit policy approved by the Board of Directors of the Fund.

4. The Foundation and organizations belonging to the Foundation group may provide charitable assistance in accordance with the charitable program approved by the Board of Directors of the Foundation, which provides for a limit on the amount of charitable assistance.

5. By the decision of the sole shareholder and in accordance with the procedure determined by him, the Fund annually allocates funds in the amount of at least seven percent of the net income of the Fund to a non-profit organization represented by the public fund "Kazakhstan Khalqyna".

The Law of the Republic of Kazakhstan dated February 1, 2012 No. 550-IV.

This Law defines the legal status, operating procedure, goals, objectives and powers of the National Welfare Fund, the procedure for interaction between the National Welfare Fund and government agencies, as well as certain features of the legal status of legal entities whose shares (participation interests) belong to the National Welfare Fund and other organizations belonging to the National

President

Republic of Kazakhstan

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