Article 4. Legal status of the Housing construction Savings Bank Chapter 2. Legal regulation of the functioning of the housing construction savings system of the Law on Housing Construction Savings in the Republic of Kazakhstan

     1. A housing construction savings bank is a second-tier bank licensed by the authorized body for regulation, control and supervision of the financial market and financial organizations to carry out activities provided for in Article 5 of this Law.

     The Housing construction Savings Bank is required to participate in the mandatory deposit guarantee system in accordance with the legislation of the Republic of Kazakhstan.

The Housing Construction Savings Bank with state participation is a second-tier bank with the status of a national development institute, licensed by the authorized body for regulation, control and supervision of the financial market and financial organizations, authorized to implement state support measures aimed at improving housing conditions, including registration of citizens of the Republic of Kazakhstan in need of housing, Kandasov.

     2. A legal entity that does not have the official status of a housing construction savings bank may not be called a "housing construction savings bank" and/or carry out the activities specified in paragraph 1 of Article 5 of this Law.  

     3. The procedure for the establishment, functioning and termination of the activities of housing construction savings banks of the housing construction savings bank, which has the status of a national development institute, is regulated by the legislation of the Republic of Kazakhstan.  

4. The Authorized Body for regulation, Control and Supervision of the Financial market and Financial Organizations and the National Bank of the Republic of Kazakhstan, within the limits of their powers established by the legislation of the Republic of Kazakhstan, exercise control and supervision over a housing construction savings bank with the status of a national development institute.

The Law of the Republic of Kazakhstan dated December 7, 2000 No. 110.  

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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