Article 261. Violation by the issuer of the terms and procedure for the issue and (or) placement of non-state equity securities of the Code of the Republic of Kazakhstan On Administrative Offenses  

     1. Repeated (two or more times within twelve consecutive calendar months) failure and/or late submission by the issuer to the central securities depository of documents for making changes and/or additions to the issuer's personal accounts in the system of registers of securities holders –

     They impose a fine on small businesses and non–profit organizations in the amount of one hundred, on medium–sized businesses in the amount of two hundred, and on large businesses in the amount of three hundred monthly calculation indices.

     2. Repeated (two or more times within twelve consecutive calendar months) violation by the issuer of the procedure for placing non-governmental equity securities, with the exception of actions provided for in part three of this article, –

     entails a fine for small businesses and non–profit organizations in the amount of one hundred, for medium–sized businesses in the amount of two hundred, and for large businesses in the amount of three hundred monthly calculation indices.

     3. Violation by the issuer of the conditions and procedure established by the legislation of the Republic of Kazakhstan for the issue and (or) placement of non-governmental equity securities in the territory of a foreign state, and (or) inclusion of non-governmental equity securities in the list of securities of a stock exchange operating in the territory of a foreign state, –

     entails a fine on legal entities in the amount of fifty percent of the amount of money received from the placement of equity securities.

     4. Violation by the issuer of the requirements for state registration of the issue of non-governmental equity securities, repeated (two or more times within twelve consecutive calendar months) violation by the issuer of the conditions for the issue of non-governmental bonds established by the legislation of the Republic of Kazakhstan on the securities market, –

     they impose a fine on small or medium-sized businesses in the amount of four hundred, on large businesses –

in the amount of five hundred monthly calculation indices.

     Note.  

     Issuers shall not be held administratively liable in accordance with this article if, at the time of the discovery of the offense, the issuer:

     has been deprived of a license to operate in the financial sector and activities related to the concentration of financial resources, and is subject to compulsory liquidation or is in the process of compulsory liquidation.;

     declared bankrupt by the court.

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