Article 60-1. Features of the voluntary reorganization of banks of the Law on Banks and Banking Activities in the Republic of Kazakhstan  -The Law of the Republic of Kazakhstan dated August 31, 1995 No. 2444. On banks and banking activities, with the introduction of the Law of the Republic of Kazakhstan dated January 16, 2026 No. 258-VIII, the SAM has lost its legal force. 

      The footnote. Title of Article 60-1 as amended by the Law of the Republic of Kazakhstan dated 02.27.2017 No. 49-VI (effective ten calendar days after the date of its first official publication).

     1. When a bank joins another bank, shares of the merged bank are acquired by the bank to which the merger is being carried out by placing (selling) among the shareholders of the merged bank their shares in an amount determined on the basis of the share exchange ratio approved at the joint general meeting of shareholders of the reorganized banks after its preliminary approval by the board of directors of each bank. At the same time, the provisions of Article 83 of the Law of the Republic of Kazakhstan "On Joint Stock Companies" relating to the sale price of shares of the merged company and the placement (sale) price of shares of the company to which the merger is being carried out (including the provisions on determining, reviewing and approving these prices by the company's bodies) do not apply.

     2. In addition to the documents specified in paragraph 3 of Article 60 of this Law, the application for permission from the authorized body to conduct a voluntary reorganization in the form of merger must be accompanied by an agreement on merger signed by the first heads of executive bodies on the basis of a decision taken at a joint general meeting of shareholders of the reorganized banks in accordance with the Law of the Republic of Kazakhstan "On Joint Stock Companies".

     3. After the transfer of the obligations of the affiliated bank to creditors and (or) depositors to the bank to which the merger is being carried out, the fulfillment of obligations to such creditors and (or) depositors, including the management of the transferred depositors' bank accounts, is carried out by the bank to which the merger is being carried out.

     4. The affiliated bank has the right to transfer obligations to depositors with their bank accounts opened in the affiliated bank (while maintaining individual identification codes) without concluding additional agreements to banking service agreements, the history of money movement under them, dossiers formed when opening and maintaining bank accounts, unfulfilled requirements, including orders from authorized persons. government agencies that have the right to suspend spending operations on a bank account, as well as decisions (resolutions) of authorized bodies or officials with the right to seize the client's money and encumbrances on depositors' bank accounts held by the affiliated bank at the time of transfer of obligations.

     5. The bank to which the merger is being carried out has the right to execute instructions on depositors' bank accounts transferred to the bank to which the merger is being carried out, with the individual identification codes specified in them, at the required time within the time limit for carrying out reorganization procedures in order to ensure the preservation of the details of depositors' bank accounts (including individual identification codes assigned by the affiliated bank). depositors assigned by the affiliated bank, as well as the relevant banking details of the affiliated bank, used for making payments and money transfers. Such instructions are executed using the correspondent account of the affiliated bank. The bank to which the merger is carried out has the right to use the banking information system of the affiliated bank.

     6. The collection and processing of personal data of the bank's customers, the rights (claims) and obligations under which are transferred as part of the reorganization procedure, are carried out by the bank to which the merger is being carried out, without the consent of the subjects of personal data or their legal representatives.

     7. Within the required period, as part of the bank's reorganization procedures, the bank to which the merger is being carried out assigns individual identification codes to depositors' bank accounts in compliance with the requirements of the legislation of the Republic of Kazakhstan and notifies in accordance with the procedure provided for in subparagraph 1) Part one of Article 24 of the Code of the Republic of Kazakhstan "On Taxes and Other Mandatory Payments to the Budget" (Tax Code), the authorized state body responsible for ensuring tax revenues and other mandatory payments to the budget, on changing individual identification codes for taxpayers' bank accounts provided for in subparagraph 1) the first part of Article 24 of the Code of the Republic of Kazakhstan "On Taxes and other mandatory payments to the budget" (Tax Code).

     After changing the individual identification codes of depositors' bank accounts to which there are unfulfilled requirements, including orders issued by authorized state bodies with the right to suspend spending operations on the bank account, as well as decisions (resolutions) of authorized bodies or officials with the right to seize the client's money, encumbrances on depositors' bank accounts:  

     the bank to which the merger is being carried out notifies the person (body) who has sent (sent) demands to the depositor's bank account (including orders from authorized state bodies with the right to suspend spending operations on the bank account, as well as decisions (resolutions) of authorized bodies or officials with the right to seize the client's money) or who has imposed (imposed) encumbrances on depositors' bank accounts, on changing the details of the depositor's bank account, including the individual identification code;

     Previously unfulfilled claims submitted to the depositor's bank account transferred to the bank to which the merger is being carried out are executed by the bank to which the merger is being carried out from the depositors' bank accounts opened by such a bank, with the correction of the details of the bank being joined (name, bank identification code, business identification number) to the relevant details of the bank to which the merger is being carried out., as well as the depositor 's individual identification code for the corresponding depositor 's individual identification code, assigned to a bank account in accordance with part one of this paragraph;

     previously submitted to the depositor's bank account transferred to the bank to which the merger is being carried out, unfulfilled orders of authorized state bodies with the right to suspend spending operations on the bank account, as well as decisions (resolutions) of authorized bodies or officials with the right to seize the client's money, are executed by the bank to which the merger is being carried out, from bank accounts depositor accounts opened by the bank to which the connection is being made, while maintaining the calendar order of their receipt by the affiliated bank and in accordance with the procedure provided for by the Civil Code of the Republic of Kazakhstan.

     Depositors' bank accounts are serviced by the bank to which the merger is being carried out, in accordance with the requirements of the legislation of the Republic of Kazakhstan and the terms of banking service agreements, the obligations of which have been transferred to this bank.

The Law of the Republic of Kazakhstan dated August 31, 1995 No. 2444.

President    

Republic of Kazakhstan     

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