Resolution of the Board of the National Bank of the Kyrgyz Republic No. 53/6 of 12 December 2007 on Amending and Supplementing Resolution of the Board of the National Bank of the Kyrgyz Republic No. 38/11 of 22 August 2007 "On the Instruction on the Procedure for Making Payments in the System of Batch Clearing of Small Retail and Regular Payments in the Kyrgyz Republic"

Registered with the Ministry of Justice of the Kyrgyz Republic

29 December 2007. Registration number 121-07

Bishkek

of 12 December 2007 No. 53/6

RESOLUTION OF THE BOARD OF THE NATIONAL BANK

OF THE KYRGYZ REPUBLIC

On Amending and Supplementing the Resolution

of the Board of the National Bank of the Kyrgyz Republic

of 22 August 2007 No. 38/11 "On the Instruction

on the Procedure for Making Payments in the System of Batch

Clearing of Small Retail and Regular Payments

in the Kyrgyz Republic"

Having considered the amendments and supplements to the resolution of the Board of the National Bank of the Kyrgyz Republic of 22 August 2007 No. 38/11 "On the Instruction on the Procedure for Making Payments in the System of Batch Clearing of Small Retail and Regular Payments in the Kyrgyz Republic", registered with the Ministry of Justice of the Kyrgyz Republic on 4 October 2007, registration number 88-07, for the purpose of ensuring transparency and disclosure of payments, guided by Articles 4, 7 and 43 of the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic", the Board of the National Bank of the Kyrgyz Republic resolves:

1. To approve the amendments and supplements to the resolution of the Board of the National Bank of the Kyrgyz Republic of 22 August 2007 No. 38/11 "On the Instruction on the Procedure for Making Payments in the System of Batch Clearing of Small Retail and Regular Payments in the Kyrgyz Republic", registered with the Ministry of Justice of the Kyrgyz Republic on 4 October 2007, registration number 88-07 (attached).

2. The Banking Settlements Department, together with the Legal Department, shall in the established procedure carry out state registration of this resolution with the Ministry of Justice of the Kyrgyz Republic.

3. This resolution enters into force from the moment of official publication after state registration with the Ministry of Justice of the Kyrgyz Republic.

Published in the journal "Normative Acts of the National Bank of the Kyrgyz Republic", No. 2008/2

4. After publication of the registered normative act, the Legal Department shall inform the Ministry of Justice of the Kyrgyz Republic of the source of publication (name of the publication, its number and date).

5. The Banking Settlements Department shall bring this resolution to the attention of commercial banks, OJSC "Settlement-Savings Company", regional departments and the representative office of the National Bank of the Kyrgyz Republic in Batken oblast.

6. Control over the execution of this resolution shall be entrusted to the Deputy Chairman of the National Bank of the Kyrgyz Republic Chokoev Z.L.

Chairman of the Board of the National

Bank of the Kyrgyz Republic M. Alapaev

Approved

by resolution of the Board

of the National Bank

of the Kyrgyz Republic

of 12 December 2007 No. 53/6

AMENDMENTS AND SUPPLEMENTS

to the resolution of the Board of the National Bank

of the Kyrgyz Republic of 22 August 2007 No. 38/11

"On the Instruction on the Procedure for Making Payments

in the System of Batch Clearing of Small Retail

and Regular Payments in the Kyrgyz Republic",

registered with the Ministry of Justice of the Kyrgyz Republic

on 4 October 2007, registration number 88-07

To introduce into the Instruction "On the Procedure for Making Payments in the System of Batch Clearing of Small Retail and Regular Payments in the Kyrgyz Republic", approved by resolution of the Board of the National Bank of the Kyrgyz Republic of 22 August 2007 No. 38/11 "On the Instruction on the Procedure for Making Payments in the System of Batch Clearing of Small Retail and Regular Payments in the Kyrgyz Republic", registered with the Ministry of Justice of the Kyrgyz Republic on 4 October 2007, registration number 88-07 (hereinafter - the Instruction), the following amendments and supplements:

1. Paragraph 2.2 shall be supplemented with subparagraph 21 of the following content:

"Payment disclosure - mandatory completion of all fields of the payment order, including the fields of the sub-account and personal account, if this concerns payments under "salary" projects, utility payments and payments to the budget".

2. Section 4 shall be supplemented with paragraph 4.2 of the following content:

"4.2. In the case of payments under "salary" projects, utility payments and payments to the budget, the sender bank shall verify the correctness and completeness of completion of all fields of the payment order, including the fields of sub-accounts and personal accounts, in accordance with the Instruction on the Procedure for Completing Payment Documents, approved by resolution of the Board of the NBKR No. 36/5 of 25 July 2007, registered with the Ministry of Justice of the Kyrgyz Republic on 3 September 2007, registration number 82-07, for the full disclosure of payments in the BCS".

3. Paragraphs 4.2 and 4.3 shall respectively be considered paragraphs 4.3 and 4.4.

4. Paragraph 5.1 shall be stated in the following wording:

"5.1. The sender bank shall prepare files of electronic payment documents and messages in accordance with the Rules for Completing Formats. In the case of utility, budget and salary payments, the sender bank shall form payment orders for each payer; or consolidated payment orders in which the fields of the sub-account and personal account must be completed, for the full disclosure of payments in the BCS".

5. Section 5 shall be supplemented with paragraph 5.6 of the following content:

"5.6. The number of payments in the files of electronic payment documents transferred to the CC must correspond to the number of primary payment documents (on paper, in electronic form), consisting of the number of payment documents accepted by the sender bank from clients and the number of the sender bank's own payments".

6. In paragraph 10.1, after the words "bears responsibility for the accuracy" add the words "and disclosure".