Article 15. Organizational-legal form and name of bank

1. Banks are in the form of joint stock companies.

1-1. The Bank uses as its naming that which is written in its charter.
Bank Name must contain the word "bank" or its derivative word.
2. All banks except the National Bank, is prohibited to use in its name the words "national," "central" in full or abbreviated form in any language.

3. All banks are prohibited from use in its name the word "State" in full or abbreviated form in any language.
3-1. The name of the Islamic bank must contain the phrase "Islamic Bank".

You may not use as names that are identical or confusingly similar to its degree of confusion with the name of the previously established banks, including banks - residents of the Republic of Kazakhstan, with the exception of subsidiary banks.

4. Subsidiaries in its name must use the name of the parent banks.

Article 16. The charter and the bank's own capital

1. The authorized capital is formed in the currency of the Republic of Kazakhstan for the sale of shares, except in cases specified in subparagraphs 1) and 2) of paragraph 2 of this article.
2. Shares of the bank when placing shall be paid exclusively in cash. This requirement does not apply to banks, whose shares have posted:

1) among the creditors of the bank and paid for by offsetting any law (requirements) of a monetary obligation of the bank to the appropriate lender during bank restructuring in the cases stipulated by this Law and other laws of the Republic of Kazakhstan;

2) when converting the securities into common shares of the bank based on the prospectus or securities convertible into common shares of the bank.

3. In the case of converting securities into shares of the bank as part of its restructuring of the right of first refusal is not provided to shareholders of the bank when placing its shares through the conversion of securities and (or) the liabilities of the bank in its shares.

4. The authorized capital of the newly created bank must be paid by its shareholders to fifty percent of the time of his registration and completely - in one calendar year from the date of its registration.
5. Method of calculating the equity and investment bank is determined by the authority.
If the sum of the bank's liabilities exceed its assets, shareholders' equity of the bank is negative.
6. In establishing the amount of negative equity from the bank the authority may by agreement with the Government of the Republic of Kazakhstan to take a decision on the compulsory redemption of shares of its shareholders, and immediately implement their new investor on the purchase price, on terms that guarantee an increase in bank capital and its normal functioning, taking into account assumed by investors obligations.

Compulsory acquisition by the authorized body of the bank's shares at the price determined based on the value of bank's assets minus the sum of its liabilities at the date of its decision on the compulsory redemption of shares (shareholders) of the bank for their follow-up of a new investor. Implementation of repurchased shares is made by the authorized body shall immediately at the price of their purchase. Rights and obligations of owners of all forcibly bought back shares transferred to the new investor.

In case the date for performance of obligations, which may be required to bank, but have not filed until a decision on compulsory redemption of shares, such claims are extinguished, except for requirements on deposits of individuals and entities.

Procedure for compulsory buy bank shares and the mandatory sale to investors is set by the authority.

Date: 2015-01-12; view: 708