Article 6-7. Meetings of the Board of the authorized body of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations

Home / RLA / Article 6-7. Meetings of the Board of the authorized body of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations

Meetings of the Board of the authorized body are held as necessary in accordance with the work plan approved by the Chairman of the authorized body.

Unscheduled meetings of the Management Board of the authorized body are held at the request of the Chairman of the authorized body or two members of the Management Board.

The members of the Management Board of the authorized body are promptly notified of the appointment of the Management Board meeting.

Meetings of the Board of the authorized body are conducted by the Chairman of the authorized body, and in case of his absence – by the person replacing him.

The Management Board of the authorized body is authorized to make a decision with the participation of at least two thirds of the members of the Management Board, including the Chairman of the authorized body or a person acting in his place.

The decision of the Board of the authorized body is made by a simple majority of votes of the Board members. If the votes are equal, the vote of the Chairman of the authorized body is decisive.

The Chairman of the authorized body has the right to return the decision of the Management Board with his objections for reconsideration and voting no later than within one week. If the Management Board confirms the earlier decision by two thirds of the total number of votes, the Chairman of the authorized body signs the decision.

The Management Board shall adopt a resolution on issues within its competence.

The Law of the Republic of Kazakhstan dated July 4, 2003 No. 474-II.

This Law regulates public relations related to the implementation of state regulation, control and supervision of the financial market and financial organizations, and is aimed at increasing the stability of the financial system of the Republic of Kazakhstan and creating conditions to prevent violations of the rights and legitimate interests of consumers of financial services.

President

Republic of Kazakhstan

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