Bank, its status and location

Bank is the legal entity, being commercial organization that in accordance with the Law On Banks and Banking activity in the Republic of Kazakhstan (August 31, 1995) shall be entitled to fulfill banking activity.

The official status of bank shall be determined by state registration of legal entity as a bank in the bodies of justice (registering bodies) (hereinafter referred to as the bodies of justice) and availability of the license of authorized body on regulation and control of financial market and financial organizations (hereinafter referred to as the authorized body) for the execution of banking operations.

Neither legal entity, not having the official status of bank, may not be named as bank nor characterize itself as occupying by banking activity.

The bank location shall be the location (postal address) of its Board.

Organizational and legal form of bank. Banks shall be established in the form of joint-stock companies.

The bank shall be established under procedure, determined by civil legislation of the republic of Kazakhstan for legal entities taking into account details, stipulated by banking legislation.

The authorized capital stock of the bank shall be formed in the national currency of the republic of Kazakhstan at the expense of shares sale. Its shareholders must pay the authorized capital stock of newly established bank at fifty percent by the moment of its registration, and completely – within one calendar year from the date of its registration.

The founders and shareholders of the bank may be legal entities and individuals – residents and non-residents of the Republic of Kazakhstan. State may be the founder or shareholder of the bank only in the person of the Government.

State registration of the bank shall be fulfilled by bodies of justice on the basis of authorized body permission for bank opening and information, confirming coordination of its constituent documents with authorized body.

Founders shall be obliged to apply to the bodies of justice for state registration of bank within one month from the date of authorized body permission for bank opening.

After state registration of the bank in the bodies of justice the bank shall be obliged to submit within fourteen calendar days the authorized body with notarized copies of constituent agreement and charter with the marking and seal of registered body of justice, and certificates of state registration of bank.

Licenses for execution of banking, and other specified by the law operations shall be issued by authorized body or National Bank within their competence and under procedure, specified by authorized body, National Bank, in accordance with requirements of this Law.

National Bank or authorized body shall be entitled during license issue to specify names of permitted to execution by banks operations in accordance with the legislation of the Republic of Kazakhstan.

The fee, amount and procedure of payment of which shall be determined by legislation of the Republic of Kazakhstan, is levied on license issue.

The branch of the bank is bank division, which is not a legal entity, located outside bank location, fulfilling banking operations on behalf of the bank and acting within the authorities, granted to him by bank.

Дата добавления: 2014-10-17