Article 68. Operation on simultaneous transfer of assets and liabilities of a bank to another bank (other banks) of the Law on Banks and Banking Activities in the Republic Kazakhstan

Home / Laws / Article 68. Operation on simultaneous transfer of assets and liabilities of a bank to another bank (other banks) of the Law on Banks and Banking Activities in the Republic Kazakhstan

1. In order to protect the rights of depositors and other creditors of the bank, it is allowed, in agreement with the authorized body, to conduct an operation for the simultaneous transfer of assets and liabilities of the bank in part or in full to another bank (other banks) (hereinafter, for the purposes of this article, the acquiring bank).

2. The procedure for conducting the operation provided for in this article, the types of assets and liabilities to be transferred during the specified operation, as well as the procedure for approval by the authorized body of such an operation, are determined by a regulatory legal act of the authorized body.

3. The Bank publishes an announcement on the transfer of assets and (or) liabilities of the bank in part or in full. The announcement is published in two periodicals distributed throughout the Republic of Kazakhstan, on the bank's Internet resource in Kazakh and Russian languages after coordination with the authorized body of the operation specified in paragraph 1 of this Article.

4. The transfer of the bank's obligations in accordance with the procedure provided for in this Article shall be carried out with the consent of the depositors and other creditors of the bank.

The absence of a written objection from the depositors and (or) other creditors of the bank within ten calendar days from the date of publication of the announcement when conducting an operation for the simultaneous transfer of assets and liabilities by the bank to the acquiring bank is considered as the consent of the depositor and (or) other creditor to transfer obligations.

5. After the transfer of the bank's obligations to depositors and (or) other creditors to the acquiring bank, the obligations to such depositors and (or) other creditors, including the management of the transferred current and savings accounts of depositors, are performed by the acquiring bank.

6. The Bank has the right to transfer obligations to the acquiring bank to depositors with their bank accounts in the 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 government agencies with the right to suspend bank account expenses, as well as decisions (resolutions) of authorized bodies or officials, having the right to seize the client's money, and encumbrances on depositors' bank accounts held by the bank at the time of the transfer of obligations.

7. During the transition period established by the regulatory legal act of the authorized body, in order to ensure the preservation of the details of depositors' bank accounts (including individual identification codes assigned by the bank), the acquiring bank has the right to execute instructions on depositors' bank accounts transferred to the acquiring bank, with the individual depositors' identification codes indicated in them, assigned by the bank. by the bank, as well as the relevant bank details used in making payments and money transfers. The specifics of the execution of such instructions using the bank's correspondent account are determined by agreement between the bank and the acquiring bank.

8. During the transition period, the acquiring bank 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) paragraph 2 of Article 55 of the Tax Code of the Republic of Kazakhstan, the authorized state body responsible for ensuring tax revenues and other mandatory payments to the budget, on changing individual identification codes on taxpayers' bank accounts, provided for in subparagraph 1) paragraph 2 of Article 55 of the Tax Code of the Republic of Kazakhstan.

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 acquiring bank 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 acquiring bank are executed by the acquiring bank from the depositors' bank accounts opened by the acquiring bank, with the correction of the bank's details (name, bank identification code, business identification number) to the relevant details of the acquiring bank, as well as the depositor's individual identification code to the corresponding individual the depositor's identification code assigned to the bank account in accordance with part one of this paragraph;

previously submitted to the depositor's bank account transferred to the acquiring bank, unfulfilled orders of authorized government 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 acquiring bank from depositors' bank accounts opened by the acquiring bank., while maintaining the calendar order of their receipt by the 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 acquiring bank 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.

9. The transfer of the bank's assets in the form of rights (claims) does not require the consent of the debtor (debtors), unless otherwise provided by the contract.

In order to notify the debtor (debtors), the bank publishes an announcement on the transfer of the bank's rights (claims) in part or in full, as specified in paragraph 3 of this Article. If the debtor fulfills its obligations in part or in full to the bank that transferred the rights (claims), such fulfillment is recognized as fulfilled by the proper creditor.

10. The transfer of assets and liabilities of the bank is carried out by concluding an agreement on the simultaneous transfer of assets and liabilities with an attachment to the transfer agreement.

The transfer certificate must contain information about the transferred assets, rights that ensure the fulfillment of obligations under the transferred assets, and obligations.

The provisions of the Civil Code of the Republic of Kazakhstan on the change of persons in an obligation apply to an agreement on the simultaneous transfer of assets and liabilities.

11. The transfer of the bank's assets in the form of shares, shares, units or other forms of equity participation in organizations, as well as branches and representative offices to the acquiring bank is carried out in accordance with the requirements of this Law and other laws of the Republic of Kazakhstan.

12. The acquiring bank has the right to use the information system of the bank that transferred its assets and liabilities to it.

13. The collection and processing of personal data of the bank's customers, the rights (claims) and obligations under which are transferred during the operation provided for in paragraph 1 of this article, are carried out by the acquiring bank without the consent of the subjects of personal data or their legal representatives.

The Law of the Republic of Kazakhstan dated January 16, 2026 No. 258-VIII SAM.

President

Republic of Kazakhstan

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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.

Article 68. Types and grounds for liquidation of banks Chapter 9. Liquidation and compulsory reorganization of banks of the Law on Banks and Banking Activities in the Republic of Kazakhstan

1. The Bank may be liquidated:

a) by decision of its shareholders, with the permission of the authorized body (voluntary liquidation);

b) by court decision in cases stipulated by legislative acts of the Republic of Kazakhstan (compulsory liquidation);

c) (deleted - No. 162 dated 2.03.01)

2. The liquidation of the bank, including on the grounds of bankruptcy, is carried out in accordance with this Law and other regulatory legal acts of the Republic of Kazakhstan.

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

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