Article 285-1. Non-fulfillment by custodians, brokers and (or) dealers who have the right to maintain customer accounts as nominee holders of securities, investment portfolio managers, insurance organizations, collection agencies of duties established by the tax legislation of the Republic of Kazakhstan Code of the Republic of Kazakhstan On Administrative Offenses
1. Failure, late, unreliable, or incomplete presentation by custodians, brokers, and (or) dealers authorized to maintain customer accounts as nominee holders of securities of information on the existence of securities accounting accounts opened by non-resident individuals, non-resident legal entities, and legal entities whose beneficial owners are non-residents, as well as the balances and movements of securities on these accounts –
they entail a fine in the amount of thirty monthly calculation indices.
2. Non-presentation, untimely, unreliable or incomplete presentation by custodians managing an investment portfolio of information on the availability of assets, with the exception of those specified in part one of this article, belonging to non-resident individuals, non-resident legal entities, as well as legal entities whose beneficial owners are non-residents, –
they entail a fine in the amount of thirty monthly calculation indices.
3. Failure, untimely, unreliable or incomplete presentation by an insurance organization or a branch of a non–resident insurance organization of the Republic of Kazakhstan operating in the life insurance industry of information on concluded cumulative insurance contracts, the beneficiaries of which are non-resident individuals, –
they entail a fine in the amount of thirty monthly calculation indices.
4. Failure, untimely, unreliable or incomplete submission by collection agencies of information on contracts containing conditions for the transfer of rights (claims) to the collection agency, –
they entail a fine in the amount of thirty monthly calculation indices.
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