Article 5-1. Qualified investors The Law on the Securities Market

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1. Qualified investors are individuals recognized as qualified investors in accordance with the procedure established by this article.

1-1. The procedure and conditions for recognizing individuals as qualified investors by organizations engaged in brokerage and (or) dealer activities in the securities market, as well as the specifics of providing services to individuals who are not qualified investors by organizations engaged in brokerage and (or) dealer activities in the securities market, are determined by a regulatory legal act of the authorized body.

2. Excluded by the Law of the Republic of Kazakhstan dated 07/12/2022 No. 138-VII (effective sixty calendar days after the date of its first official publication). 3. Excluded by the Law of the Republic of Kazakhstan dated 07/12/2022 No. 138-VII (effective sixty calendar days after the date of its first official publication).

4. The person who has applied for recognition as a qualified investor is responsible for the accuracy of the information provided about himself.

Recognizing a person as a qualified investor on the basis of false information provided by him does not constitute grounds for invalidating transactions made in his interests and at his expense.

5. A person may be recognized as a qualified investor in respect of one type or several types of securities and other financial instruments, one type or several types of services intended for qualified investors.

6. The list of financial instruments allowed to be acquired only at the expense of qualified investors is established by a regulatory legal act of the authorized body.

Financial instruments that are allowed to be acquired only at the expense of qualified investors may be acquired at the expense of investors who are under the investment management of an organization engaged in investment portfolio management, without recognizing such investors as qualified investors.

7. A professional participant in the securities market specified in paragraph 1-1 of this Article, who is recognized as a qualified investor, must:

1) notify a qualified investor about which types of securities and other financial instruments or services he is recognized as a qualified investor.;

2) require a person recognized as a qualified investor to confirm compliance with the requirements that are necessary for a person to be recognized as a qualified investor, and to constantly verify compliance with these requirements;

3) keep a register of persons recognized by it as qualified investors.

8. The exclusion of a qualified investor from the register of qualified investors is carried out in case of non-compliance with the conditions for inclusion in the register of qualified investors.

The Law of the Republic of Kazakhstan dated July 2, 2003 No. 461.

 This Law regulates public relations arising in the process of issuing, placing, circulating and redeeming equity securities and other financial instruments, the specifics of the creation and operation of securities market entities, defines the procedure for regulating, controlling and supervising the securities market in order to ensure the safe, open and effective functioning of the securities market, and the protection of investors' rights. and holders of securities, fair competition of securities market participants.

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