Regulatory Alerts2019-02-25 | https://aifc.kz/legal-framework/sovereign-bonds-rules/AIFC Rules on Facilitating the Safekeeping and Settlement of Sovereign Bonds
The Astana International Financial Centre issued these rules to facilitate the safekeeping and settlement of Republic of Kazakhstan sovereign bonds within non-AIFC depository systems. The framework establishes a Registrar to maintain the bond register and designates a Central Securities Depository to handle settlement, lending, and collateral management under its own governing law. Additionally, the rules exempt these bonds from specific AIFC personal property regulations and clarify that the CSD bears no liability for monitoring holding restrictions or acting as a representative in default events.
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