Article 92. Regulation regime of the Law on Banks and Banking Activities in the Republic Kazakhstan

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1. The settlement regime means the application by the authorized body to the bank of the settlement instruments provided for in Article 93 of this Law in order to:

1) protection of the rights and legitimate interests of depositors, other creditors, clients and correspondents of the bank;

2) reducing systemic risks and preventing significant negative impacts on the banking system, including by preventing the spread of negative impacts from a bank in settlement mode to other banks and financial institutions;

3) ensuring the continuity of the bank's critical banking and other operations.

2. The settlement regime is based on the following principles:

1) mandatory reduction of the bank's equity capital by the amount of the bank's actual and expected losses in the bank's accounting and financial statements in accordance with the Law of the Republic of Kazakhstan "On Accounting and Financial Reporting" and international financial reporting standards;

2) preventing the increase in losses of depositors and other creditors of a bank in settlement mode compared to the losses they would have incurred in the event of forced liquidation of the bank without the application of the settlement regime;

3) protection of deposits that are subject to mandatory deposit guarantees;

4) satisfaction of the claims of depositors and other creditors when applying the settlement regime to the bank in accordance with the order established by Article 123 of this Law, except in cases when the claims are satisfied in accordance with the specified order:

This will lead to an increase in systemic risks and/or a significant negative impact on the banking system.;

It will hinder the continuity of the bank's critical banking and other operations.;

5) applying the least expensive settlement instruments to the bank;

6) the use of funds from the republican budget and (or) other public funds in the minimum necessary amount and solely to reduce systemic risks and prevent a significant negative impact on the banking system in the settlement of a systemically significant bank;

7) the authorized body performs the bank's regulation function independently of other functions of the authorized body.

3. If the results of the bank's viability assessment confirm the possibility and expediency of applying settlement instruments to the bank in comparison with the forced liquidation of the bank:

1) the decision to apply the settlement regime to a bank that is not a systemically important bank is made by the authorized body no later than three working days from the date of the viability assessment of the specified bank.;

2) the decision on the application of the settlement regime to a systemically important bank is made in accordance with the procedure specified in paragraph 1 of Article 94 of this Law.

4. The decision to apply the settlement regime to the bank must:

1) be based on the principles established by paragraph 2 of this Article;

2) contain a list, conditions and approximate dates for the implementation of settlement instruments, taking into account:

objectives of the settlement regime established by paragraph 1 of this article;

the provisions of the settlement plan specified in paragraph 1 of Article 90 of this Law (if any);

the results of the viability assessment specified in Article 91 of this Law.

5. The decision to apply the settlement regime to the bank is brought by the authorized body to the attention of the bank, major participants of the bank, bank holdings, the National Bank of the Republic of Kazakhstan and the organization providing mandatory deposit guarantee within one business day from the date of its adoption.

In order to notify depositors, other creditors, clients and debtors of the bank, as well as other interested parties, the announcement of the application of the settlement regime to the bank is published by the bank in Kazakh and Russian in two periodicals distributed throughout the Republic of Kazakhstan, posted on the bank's Internet resource, and also communicated to the bank's clients through the facilities informatization. The specified announcement is also posted by the authorized body on its Internet resource.

A systemically important bank, in respect of which state participation has been carried out in accordance with Article 94 of this Law, is obliged to post on its official Internet resource information on the application of the settlement regime to it, as well as information on state participation, including information on its size, conditions of provision and use, and on the progress of fulfilling obligations to return it..

6. Unless otherwise provided by the decision on the application of the settlement regime to the bank, from the date of the beginning of the application of the settlement regime:

1) the accrual of penalties (penalties, fines) for all types of bank debt is suspended;

2) the fulfillment of the bank's monetary obligations to depositors and other creditors, including those subject to satisfaction in an undisputed manner, is suspended.;

3) foreclosure on the bank's property is suspended;

4) the execution of executive documents on debt collection from the bank is suspended;

5) the bank is prohibited from making decisions, as well as from executing previously adopted decisions on:

distribution of profits, accrual and payment of dividends on common and (or) preferred shares;

payment of remuneration on subordinated debt, perpetual financial instruments and (or) other instruments providing the overall ability to absorb (cover) losses;

fulfillment of any financial obligations to major participants of the bank and (or) bank holding companies;

payment of remuneration to senior employees of the bank, with the exception of payment of wages (except bonuses and other incentive payments) and other guaranteed payments in cases established by the labor legislation of the Republic of Kazakhstan.

7. With the exception of the cases established by Article 27 of this Law, the application of the settlement regime and (or) settlement instruments to the bank may not be the basis for:

1) early fulfillment or termination of the bank's obligations on the initiative of the bank's counterparties;

2) early fulfillment by the bank of obligations in connection with the occurrence of an event of non-fulfillment (default), settlement, insolvency and (or) any similar event under any agreement concluded by the bank;

3) satisfaction, on the initiative of creditors, of claims against the bank at the expense of the bank's property, which is the subject of a pledge or other security.

8. When applying the settlement regime to a bank, the authorized body appoints a temporary administration to manage the bank in accordance with the procedure established by Article 101 of this Law.

9. The authorized body and (or) the interim administration for the management of the bank, including at the request of creditors, for transactions made by the bank within three years prior to the date of commencement of the settlement regime, has the right to apply to the court for invalidation of transactions if there are grounds for invalidity of transactions provided for by the Civil Code of the Republic of Kazakhstan, the laws of the Republic of Kazakhstan and (or) paragraph 2 of Article 122 of this Law.

The provisions of paragraphs 3, 4, 5 and 6 of Article 122 of this Law shall apply to the recognition of transactions as invalid under the settlement regime.

In court proceedings initiated at the request of the authorized body or the interim administration for the management of the bank, after the termination of the settlement regime, the plaintiff is recognized as the bank or (in case the bank is deprived of a banking license to carry out all types of operations) the interim administration for the management of the bank until the court's decision on the forced liquidation of the bank enters into force.

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

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Republic of Kazakhstan

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