On November 9, 2015 the National Bank of the Republic of Kazakhstan decided that pension assets will be only invested in the government securities of the Republic of Kazakhstan. This decision was also supported by the Council for Economic Policy on December 11, 2015, NB RK press service informs.
This investing strategy is temporary and will be valid until the adoption of decisions by the Council for the Management of the National Fund of the Republic of Kazakhstan, which in accordance with the Law of the Republic of Kazakhstan No 342-V dated 2 August 2015 “On introducing amendments and additions to some legislative acts of the Republic of Kazakhstan on pension provisioning" after 1 January 2016 will be vested with a function of determining areas of investing the UNPF pension assets.
In accordance with the President’s instructions given November 30, 2015 in the President’s Address to the people of Kazakhstan, the National Bank jointly with the Government is preparing proposals for the development of new approaches to managing and investing of UNPF pension assets.
Name of “MinTax” used in this proposal, depending on the context, can refer to MinTax LLP or MinTax Audit LLP and to its structural subdivisions as well. MinTax LLP and MinTax Audit LLP are included into MinTax Group acting on the basis of the Partnership Agreement, and are considered to be separate and independent legal entities founded under the Republic of Kazakhstan legislation, and they are responsible for all rights and obligations only on their behalf. The Companies which are included in MinTax Group are not responsible for any actions or omissions of each other
CONFIDENTIALITY | LEGAL ASPECTS