Article 50. Revocation and suspension of execution of instructions The Law on Payments and Payment Systems
1. The revocation of an instruction and the suspension of the execution of an instruction shall be carried out prior to its execution on the basis of a corresponding order sent by the initiator to the sender's bank and (or) before the sender's bank sends information to the beneficiary about the acceptance of the payment in his favor. The term of execution of the revocation order, as well as the method of its transfer, are established by an agreement and (or) a regulatory legal act of the National Bank of the Republic of Kazakhstan.
The revocation of a collection order of a territorial judicial authority or a private bailiff whose license has been suspended or terminated, or who has been stripped of his license or excluded from membership in the Republican Chamber of Private Bailiffs, is carried out by the territorial judicial authority or the private bailiff to whom enforcement proceedings have been transferred, in accordance with the procedure established by the Law of the Republic of Kazakhstan "On Enforcement Proceedings and the Status of Bailiffs".
2. When sending an order to revoke an instruction or suspend the execution of an instruction electronically, the procedure for protective actions established by the agreement between the initiator of these orders and the bank of the sender of the money is observed.
3. Upon timely receipt of an order to revoke an instruction, the sender's bank does not transfer money according to this instruction and returns it no later than the business day following the day of receipt of such an order, while simultaneously sending a notification to the initiator about the execution of the received order.
4. The execution of the instruction is suspended in the cases provided for in paragraph 6 of Article 92 and Article 102 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan", the legislation of the Republic of Kazakhstan on payments and payment systems, countering the legalization (laundering) of proceeds from crime, financing terrorism and financing the proliferation of weapons of mass destruction, as well as if In accordance with the laws of the Republic of Kazakhstan, the money sender's bank has been presented with an act of seizure of the money held in the bank account., temporary restriction on the disposal of property, a decision and (or) an order of an authorized state body or officials to suspend spending operations on the bank account of the sender of money or the bank of the sender of money, as well as a decision of an authorized state body, official or bailiff to withdraw money from the sender of money, subject to execution according to the laws of the Republic of Kazakhstan earlier than this instruction. The bank of the sender of the money is not responsible for losses related to the suspension of the execution of the instruction for the above reasons.
5. Revocation of instructions and suspension of execution of instructions are not allowed for payments and (or) money transfers related to the payment of payments to the budget and payment for public services, information and information on which are provided by banks to government agencies, courts through the payment gateway of the "digital government" in accordance with paragraph 10 of Article 25 of this Law.
6. Making a payment, issuing and executing instructions, issuing money by the bank to the beneficiary, or receiving money by the beneficiary may be prohibited by government agencies or officials authorized to do so by the laws of the Republic of Kazakhstan, and only on the grounds provided for by the laws of the Republic of Kazakhstan.
The Law of the Republic of Kazakhstan dated July 26, 2016 No. 11-VI SAM.
The article was amended and supplemented by the Law of the Republic of Kazakhstan dated June 24, 2026 No. 325-VIII SAM
This Law regulates public relations arising in the field of organization and functioning of payment systems, regulation of payment systems and supervision (oversight) of them, regulation of the payment services market and control over it, as well as the implementation of payments and (or) money transfers in the Republic of Kazakhstan.
President
Republic of Kazakhstan
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