Article 23. Payment of equity securities The Law on the Securities Market
1. The procedure and specifics of payment for shares are established by legislative acts of the Republic of Kazakhstan.
2. Payment of bonds is carried out only in cash, except in cases of payment:
1) bonds with the rights of claim for bonds previously placed by this issuer (minus the bonds repurchased by the issuer), the maturity of which has expired;
2) bonds of a bank in settlement mode.
Until the full payment of the placed bond is made, the issuer is not entitled to give an order to transfer this bond to the personal account of its acquirer in the system of registers of bondholders (the nominee holder accounting system).
It is not allowed to pay bonds with the rights of claim for bonds previously paid with the rights of claim.
2-1. Payment for Islamic securities is carried out only with money. Until full payment is made for the placed Islamic security, the issuer is not entitled to order the crediting of this Islamic security to the personal account of its acquirer in the system of registers of holders of Islamic securities (the nominee holder accounting system).
3. The placement of bonds by subscription is carried out on the terms and in the manner determined by the terms of the bond issue.
4. The requirements of paragraphs 2 and 3 of this Article shall apply to a bank in a settlement regime, taking into account the specifics provided for by the decision to apply a settlement regime to the bank adopted in accordance with the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan.
The Law of the Republic of Kazakhstan dated July 2, 2003 No. 461.
This Law regulates public relations arising in the process of issuance, placement, circulation and repayment of equity securities and other financial instruments, the specifics of the creation and operation of securities market entities, defines the procedure for regulation, control and supervision of the securities market in order to ensure the safe, open and effective functioning of the securities market, protection of investors' rights. and holders of securities, fair competition of securities market participants.
President
Republic of Kazakhstan
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
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