Article 97. An operation for the simultaneous transfer of assets and liabilities of a bank in settlement mode to another bank (other banks) of the Law on Banks and Banking Activities in the Republic Kazakhstan

     1. If the decision to apply the settlement regime to the bank provides for the simultaneous transfer of assets and liabilities of the bank in the settlement regime to another bank (other banks) (hereinafter referred to as the acquiring bank for the purposes of this article), such an operation shall be carried out by the interim administration for the management of the bank.

     2. When conducting the transaction provided for in paragraph 1 of this article, the assets and liabilities of the bank in settlement mode may be partially or completely transferred to the acquiring bank at the same time.

     The obligations of a bank in settlement mode for guaranteed deposits of individuals must be transferred to the acquiring bank in full.

     If the amount of obligations on guaranteed deposits of individuals transferred to the acquiring bank exceeds the amount of assets of the bank in settlement mode, the organization providing mandatory deposit guarantee is obliged to make up the difference in accordance with the procedure established by the legislation of the Republic of Kazakhstan on mandatory deposit guarantee placed in second-tier banks of the Republic of Kazakhstan.  

     The amount of funds transferred by the organization providing mandatory deposit guarantee, in accordance with part three of this paragraph, should not exceed the amount to be paid as a guarantee refund, determined in accordance with the legislation of the Republic of Kazakhstan on mandatory deposit guarantee.

     3. The operation provided for in paragraph 1 of this article does not require:

     1) consent of shareholders, depositors, other creditors, clients and (or) debtors of the bank in the settlement mode, as well as other interested parties (including mortgagors, guarantors, guarantors). At the same time, the identity of the new creditor is recognized as of no significant importance to the debtor.;

     2) amendments to the terms of agreements concluded by a bank in settlement mode with its depositors, other creditors, customers and (or) debtors, as well as other persons (including mortgagors, guarantors, guarantors), in terms of specifying a new party to the agreement;

     3) conclusion of new bank account agreements by the acquiring bank with depositors of the bank in settlement mode.  

     4. The acquiring bank assigns individual identification codes to depositors' bank accounts with the notification of depositors.  

     The transfer by the interim administration for the management of the bank to the acquiring bank of the obligations of the bank in settlement mode to depositors is carried out in accordance with the provisions of paragraphs 6, 7 and 8 of Article 68 of this Law.

     5. The collection and processing of personal data of the bank's clients in the settlement mode, 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.

     6. In order to notify depositors, other creditors, clients and debtors of the bank in settlement mode, as well as other interested parties, the interim administration for the management of the bank publishes an announcement on the transfer of assets and liabilities of the bank in settlement mode to the acquiring bank in Kazakh and Russian in two periodicals distributed throughout the territory. Of the Republic of Kazakhstan, and is also posted by the authorized body, the bank in the settlement mode, and the acquiring bank on their Internet resources.  

     7. The transfer to the acquiring bank of the assets of the bank under settlement in the form of shares, equity interests, units or other forms of equity participation in organizations, as well as branches, representative offices and additional premises of the bank does not require the acquiring bank to obtain permits, consents and notifications of the authorized body provided for by this Law and (or) other laws of the Republic of Kazakhstan.

     8. The transfer of assets and liabilities of a bank in settlement mode 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 and liabilities, including ways to ensure the fulfillment of obligations under the transferred assets and liabilities.

     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.

     9. The agreement on the simultaneous transfer of assets and liabilities (with the attachment of the transfer act) is submitted to the authorized registration authority (organization) by the acquiring bank in order to enter information about the new creditor, who is also the mortgagee, to whom the rights that provide security have been transferred into the legal cadastre, as well as the register of pledge of movable property, the system of registers of securities holders. fulfillment of obligations on transferred assets.

     Assignment of rights (claims) on the grounds and in accordance with the procedure defined by this article is also the basis for the transfer to a new creditor, who is also the pledgee, of rights to property in respect of which there are encumbrances, arrests, and other restrictions on the disposal of property registered by third parties or government agencies.

     10. After the transfer of obligations to depositors and other creditors of the bank in settlement mode to the acquiring bank, the obligations to such depositors and other creditors are fulfilled by the acquiring bank.

     11. After the conclusion of an agreement on the simultaneous transfer of assets and liabilities of a bank in settlement mode, shareholders, depositors, other creditors and clients of a bank in settlement mode are not entitled to:

     1) require the acquiring bank to reimburse any losses incurred as a result of the transfer of assets and liabilities of the bank in settlement mode in favor of the acquiring bank;  

     2) require the reverse transfer of any assets and liabilities in favor of the bank in settlement mode.

     The conclusion and (or) execution of an agreement on the simultaneous transfer of assets and liabilities of a bank in settlement mode cannot be the basis for:

     1) early fulfillment or early termination of obligations transferred to the acquiring bank;  

     2) the occurrence of an event of default, settlement, insolvency and (or) any similar event under the contract under which the obligations transferred to the acquiring bank arose.

     12. The Interim Administration for the management of the bank has the right to conduct an operation for the simultaneous transfer of assets and liabilities of a bank in settlement mode more than once for the purpose of additional transfer of assets and liabilities of the specified bank.

     The interim Administration for the management of the bank, after completing the transfer of assets and liabilities of the bank in settlement mode to the acquiring bank, submits to the authorized body a proposal to deprive the bank in settlement mode of a banking license to carry out all types of operations for the purpose of subsequent compulsory liquidation of the bank.

     13. The specifics of conducting an operation for the simultaneous transfer of assets and liabilities of a bank in settlement mode to a stabilization bank are established by Article 98 of this Law.  

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

President    

Republic of Kazakhstan     

© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan  

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