Article 34. Validity of the license and/or the license annex in case of reorganization of the licensee legal entity The Law on Permits and Notifications

Home / RLA / Article 34. Validity of the license and/or the license annex in case of reorganization of the licensee legal entity The Law on Permits and Notifications

1. In case of reorganization of the licensee legal entity in the form of a merger, the license and (or) the appendix to the license available to it are subject to reissue to the newly formed legal entity as a result of the merger in accordance with the procedure specified in paragraphs 3 and 4 of Article 33 of this Law. In the case of a merger of several licensee legal entities licensed for the same licensed type of activity or a subspecies of the licensed type of activity, only one such license and/or an appendix to the license at the applicant's choice is subject to reissue to the newly formed legal entity as a result of the merger. In the case of a merger of licensor legal entities, the license of the reorganized licensor legal entities is terminated from the date of renewal of the license of the newly formed licensor legal entity.

2. In case of reorganization of the licensee legal entity in the form of transformation, the license and (or) the appendix to the license available to it are subject to reissue to the newly formed legal entity as a result of the transformation in accordance with the procedure specified in paragraphs 3 and 4 of Article 33 of this Law, except for cases when for the organizational and legal form of the newly formed legal entity as a result of the transformation Engaging in a licensed type of activity or a subspecies of a licensed type of activity is prohibited by the laws of the Republic of Kazakhstan.

3. In case of reorganization in the form of incorporation of a legal entity-licensee into another legal entity, the license and (or) the appendix to the license of the affiliated legal entity-licensee shall be reissued in accordance with the procedure specified in paragraphs 3 and 4 of Article 33 of this Law. If the affiliated legal entity and the legal entity to which the affiliated legal entity is affiliated have licenses for the same licensed type of activity or a subspecies of the licensed type of activity, the license of the affiliated legal entity will not be renewed for the legal entity to which the legal entity is affiliated.

4. When reorganizing a legal entity-licensee in the form of a spin-off, its existing license and (or) an appendix to the license, with the consent of the legal entity from which the spin-off was made, are subject to reissue to one legal entity allocated as a result of the reorganization only if the compliance of the allocated legal entity with the qualification requirements for licensing the relevant type of licensed activity is confirmed. and (or) the subspecies of the licensed type of activity.

The applicant for the renewal of the license on the basis provided for in this paragraph is a legal entity separated as a result of the reorganization.

In order to reissue a license and (or) an attachment to a license for a legal entity allocated as a result of reorganization, the applicant, in addition to the documents provided for in paragraph 3 of Article 33 of this Law, submits information and documents on his compliance with qualification requirements, as well as a decision on the consent of the legal entity from which the allocation was made in accordance with the procedure established by the legislation of the Republic of Kazakhstan. renewal of a license for a dedicated legal entity.

The application for renewal of the license and (or) the annex to the license for the legal entity allocated as a result of the reorganization is submitted by the applicant within thirty calendar days from the date of completion of the reorganization in the form of allocation.

The licensor refuses to renew the license and (or) the license application, initiated on the grounds provided for in this paragraph, in case of failure to submit or improper execution of the documents specified in paragraph 3 of Article 33 of this Law, part three of this paragraph, as well as in case of non-compliance of the applicant with the qualification requirements.

5. In case of reorganization of the licensee's legal entity in the form of a division, the license and (or) the appendix to the license that it has are subject to reissue to one of the newly created legal entities as a result of the division, if the compliance of this newly created legal entity with the qualification requirements is confirmed.

The applicant for the renewal of the license on the basis provided for in this paragraph is one of the newly created as a result of the separation of legal entities.

In order to renew a license and (or) an attachment to a license for one of the newly created legal entities as a result of the separation, the applicant, in addition to the documents provided for in paragraph 3 of Article 33 of this Law, submits information and documents on his compliance with the qualification requirements.

The application for renewal of the license and (or) the annex to the license for one of the newly created legal entities as a result of the separation is submitted by the applicant within thirty calendar days from the date of completion of the reorganization in the form of separation.

The Licensor refuses to renew the license and/or the license application initiated on the grounds provided for in this paragraph, in the following cases::

1) failure to submit or improper execution of the documents specified in paragraph 3 of Article 33 of this Law and in part three of this paragraph;

2) the applicant's non-compliance with the qualification requirements;

3) if the license and/or the appendix to the license were previously reissued to another legal entity from among the newly formed licensees as a result of the separation of legal entities.

5-1. In case of voluntary reorganization of the bank in the form of conversion into an Islamic bank:

the license for conducting banking and other operations is terminated from the moment it is issued a license for conducting banking and other operations of an Islamic bank.;

The license to operate in the securities market is reissued by the licensor to the Islamic bank in accordance with the procedure specified in paragraphs 3 and 4 of Article 33 of this Law, no later than thirty working days from the date of submission of the application with the relevant documents.

5-2. In case of voluntary reorganization of a microfinance organization in the form of conversion into a bank, the license for microfinance activities is terminated from the moment of state re-registration of the microfinance organization with the bank.

6. The licensor, within two working days from the date of receipt of the applicant's documents for the renewal of the license and (or) the annex to the license on the grounds provided for in paragraphs 4 and 5 of this Article, is obliged to verify the completeness of the submitted documents.

If the fact of incompleteness of the submitted documents is established, the licensor shall, within the specified time limits, give a reasoned refusal to further consider the application.

7. In order to obtain, in cases established by the laws of the Republic of Kazakhstan, decrees of the President of the Republic of Kazakhstan or resolutions of the Government of the Republic of Kazakhstan, approvals (accompanying permits) from state bodies for the applicant's compliance with the requirements established by regulatory legal acts, the licensor, within two working days from the date of registration of the applicant's documents for the renewal of the license and (or) appendices to the license for on the grounds provided for in paragraphs 4 and 5 of this Article, sends a request to the relevant state authorities at the place of the applicant's activity.

Based on the licensor's request, the state authorities shall send a response to the relevant licensor within ten working days on the applicant's compliance or non-compliance with the requirements.

Regulatory legal acts may establish other time limits for the cases provided for in part one of paragraph 6 of this Article, parts one and two of this paragraph.

8. All documents submitted to the relevant licensor or to the State Corporation for the renewal of the license and /or the license annex are accepted according to the inventory, a copy of which is sent (handed over) to the applicant with a note on the date of receipt of the documents by the specified authority. In this case, the inventory is compiled by the applicant.

If the application is submitted in electronic form, the confirmation of acceptance of the application is a document certified by an electronic digital signature of an authorized person of the licensing authority.

9. The license and (or) the appendix to the license on the grounds provided for in paragraphs 4 and 5 of this Article shall be reissued by the licensor no later than fifteen working days, with the exception of licenses and (or) appendices to licenses in the field of atomic energy use, the financial sector and activities related to the concentration of financial resources, the import and export of specific goods, the sphere of education, the sphere of hydrocarbons, which, in accordance with paragraphs 4 and 5 of this article, are reissued no later than thirty working days from the date of submission of the application with the documents, established by part three of paragraph 4 and part three of paragraph 5 of this Article.

10. Licensors, within the time limits established by this article, are obliged to issue a reissued license and (or) an appendix to the license, or to give a reasoned refusal to reissue them.

The Law of the Republic of Kazakhstan dated May 16, 2014 No. 202-V SAM.

This Law regulates public relations related to the introduction and implementation of a permissive or notification procedure for the implementation of certain types of activities or actions by private business entities and other persons provided for by this Law.

President

Republic of Kazakhstan

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