Definitions

In these Regulations:

Account Holder has the meaning given in section VIII (E Miscellaneous) of the AIFC Common Reporting Standard Rules.

Accounting Records means any records and underlying documents comprising initial and other accounting entries and associated supporting documents, such as:

• (a) cheques;
• (b) records of electronic funds transfers;
• (c) invoices;
• (d) contracts;
• (e) the general and subsidiary ledgers, journal entries and other adjustments to the financial statements that are not reflected in journal entries; and
• (f) work sheets and spread sheets supporting cost allocations, computations, reconciliations and disclosures.

Acting Law of the AIFC has the meaning given by article 4 of the Constitutional Statute.

Body Corporate means any body corporate, including a limited liability partnership and a body corporate constituted under the law of a country or territory outside the AIFC.

Common Reporting Standard means the standard for automatic exchange of financial account information developed by the OECD as amended from time to time by the OECD, the current format of which is set out in the AIFC Common Reporting Standard Rules, together with the Commentaries regarding that standard issued by the OECD from time to time.

Competent Authority means the competent authority designated by the Government to:

• (a) receive the information reported by Reporting Financial Institutions pursuant to the Common Reporting Standard by way of a reporting system; and
• (b) facilitate the exchange of information under the Common Reporting Standard pursuant to any agreement or treaty entered into by the Government, or its permitted delegate or nominee, in connection therewith.

Constitutional Statute means the Constitutional Statute of the Republic of Kazakhstan dated 7 December 2015 entitled On the Astana International Financial Centre.

Financial Institution has the meaning given in section VIII (A Reporting Financial Institution) of the AIFC Common Reporting Standard Rules.

Government means the government of the Republic of Kazakhstan.

Inspector means any inspector appointed by the Relevant Authority under section 10 (Appointment of Inspectors).

New Account means any account defined as such in section VIII (C Financial Account) of the AIFC Common Reporting Standard Rules.

Non-reporting Financial Institution has the meaning given in section VIII (B Non-Reporting Financial Institution) of the AIFC Common Reporting Standard Rules.

OECD means the Organisation for Economic Co-Operation and Development which was established by the Convention on the Organisation for Economic Co-operation and Development signed in Paris on 14 December, 1960.

Partnership means any partnership, including a partnership constituted under the law of a jurisdiction other than the AIFC, but not including a limited liability partnership.

Person includes any natural person, Body Corporate or body unincorporated, including a legal person, company, Partnership, unincorporated association, government or state.

Pre-existing Account means any account defined as such in section VIII (C Financial Account) of the AIFC Common Reporting Standard Rules.

Privileged Communication means a communication attracting a privilege arising from the provision of professional legal advice and any other privilege applicable at law, but which does not include a general duty of confidentiality.

Relevant Authority means the Astana Financial Services Authority.

Reportable Account means any account defined as such in section VIII (D Reportable Account) of the AIFC Common Reporting Standard Rules.

Reportable Person has the meaning given in section VIII (D Reportable Account) of the AIFC Common Reporting Standard Rules.

Reporting Financial Institution has the meaning given in section VIII (A Reporting Financial Institution) of the AIFC Common Reporting Standard Rules.