Regulatory Alerts2017-06-08 | 128251Regulation on the Temporary Administration
The National Bank of the Kyrgyz Republic issued this Regulation to establish the legal framework for appointing a Temporary Administration to banks and payment organizations to protect depositors and ensure systemic stability. The document details the grounds for intervention, the appointment process, and the extensive powers granted to the Temporary Administrator, including the suspension of management authority and legal proceedings. It further defines strict qualification requirements for administrators and outlines the operational procedures, reporting obligations, and liability limitations associated with the temporary administration regime.
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