Article 9. The basics of interaction between the authorized body and the organization responsible for mandatory deposit guarantee The Law on Mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan

Home / Laws / Article 9. The basics of interaction between the authorized body and the organization responsible for mandatory deposit guarantee The Law on Mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan

Article 9. The basics of interaction between the authorized body and the organization responsible for mandatory deposit guarantee The Law on Mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan

1. The authorized body and the organization carrying out mandatory deposit guarantee coordinate their activities, coordinate the accepted documents and inform each other about the ongoing measures for mandatory deposit guarantee.

2. In order to properly and timely perform its functions, an organization engaged in mandatory deposit guarantee shall request from the authorized body the information necessary to ensure the functioning of the mandatory deposit guarantee system, including information constituting banking and other legally protected secrets, and provide to the authorized body, upon request, the information necessary to ensure the functioning of the mandatory deposit guarantee system. deposits. At the same time, information received by the organization that carries out mandatory deposit guarantees is not subject to disclosure.

3. Excluded by the Law of the Republic of Kazakhstan dated 07/03/2019 No. 262-VI (effective from 01/01/2020). 4. Excluded by the Law of the Republic of Kazakhstan dated 07/03/2019 No. 262-VI (effective from 01/01/2020). The footnote. Article 9 as amended by the Laws of the Republic of Kazakhstan dated 05.07.2012 No. 30-V (effective after ten calendar days after its first official publication); dated 03.07.2019 No. 262-VI (effective from 01.01.2020).

The Law of the Republic of Kazakhstan dated July 7, 2006 No. 169-III.

This Law is aimed at protecting the rights of depositors – individuals, including individual business entities, private notaries, private bailiffs, lawyers and professional mediators, and defines the legal basis for the functioning of the mandatory deposit guarantee system placed in second-tier banks of the Republic of Kazakhstan (bank branches – non–residents of the Republic of Kazakhstan), with the exception of Islamic bank deposits and money in bank accounts raised as part of Islamic banking operations, as well as the procedure for establishing and operating an organization that provides mandatory deposit guarantee, participation of second-tier banks of the Republic of Kazakhstan (branches of non-resident banks of the Republic of Kazakhstan) in the mandatory deposit guarantee system and other issues of mutual relations between participants systems.

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