The Management Board is Collegial Executive Body of the Company, whose powers includes dealing with all issues of the Company that are not classified to the competence of other bodies and officers of the Company by the Law, other legislative acts of the Republic of Kazakhstan and the Company’s Articles of Association.
The Board of Directors of JSC NC KTZ has determined the number of members of the Management Board in no more than 10 persons.
The competence of the Board of JSC NC KTZ includes:
implementation of the resolutions of the Sole Shareholder and the Board of Directors;
approval and submission Development Strategy to the Board of Directors of the Company;
ensuring protection and safety of internal (official) information;
timely notice of the Board of Directors of significant deficiencies in Risk Management System of the Company;
approval of documents, adopted to manage the work of the Company, and not pertaining to the documents to be approved by the Board of Directors;
decisions to establish and close branches and representative offices on the territory of the Republic of Kazakhstan, as well as approval of their regulations;
identifying information about the Company or its activity, which is an official, commercial or other secret protected by law;
approving the staffing table of the Company;
approving the rules on remuneration and schemes of salaries of administrative and management employees of the Company (except for the members of the Management Board, Internal Audit Service, Corporate Secretary of the Company);
decision on transactions in which the Company has an interest in accordance with the order of transactions between organizations within the Fund group, in which there are special conditions established by the Law;
decisions on activities related to the general meeting of shareholders (participants) of the legal entity, ten or more percent of shares (stakes in the authorized capital) of which belong to the Company;
approval of the Company’s (detailed) budget as part of the Company’s Development Plan (if there is a detailed budget);
developing, approving and submitting the Company’s Development Plan to the Board of Directors;
Implementation of the Development Plan;
decisions on other issues of the Company’s operations that are not related to the exclusive competence of the Sole Shareholder and the Board of Directors.
In 2017, the Management Board of KTZ held 32 meetings. The structural divisions and subsidiaries of KTZ submitted 351 issues to the Management Board for consideration.