GEN Schedule 1, paragraph 4(2): two activity names that do not exist

Paragraph 4(2) incorporates into Managing a Collective Investment Scheme activities constituting "Dealing as Agent" and "Dealing as Principal". Schedule 1 defines "Dealing in Investments as Agent" (paragraph 2) and "Dealing in Investments as Principal" (paragraph 1); the Glossary does not define the two shorter names. The wording has been there since the initial 2017 release. The draft in Consultation Paper AFSA-PSRD-CSP-2026-0001 (Annex 2) corrects a third name in the same paragraph ("Managing Assets" to "Managing Investments") but keeps these two.

Proposed correction

Please use the defined names "Dealing in Investments as Agent" and "Dealing in Investments as Principal"; the change could be made in the same amendment.

Jurisdiction

Kazakhstan — AIFC

Act

AIFC General Rules (GEN), V20

Place

Schedule 1 para 4(2) / page 45

Record

Discrepancy

Class

Text of the act

Where it arose

The text of the act

Arxo's conclusion

Confirmed

Official text

Unchanged at last check

Last checked

2026-10-25

Evidence

Contradiction within the text. Quotations are verbatim from the official material; translations are ours and marked.

To the extent that any activity under (1) constitutes Managing Assets, Providing Fund

Managing Investments means managing on a discretionary basis assets belonging to another

How to check it without Arxo's tools

1. Open AIFC General Rules (GEN), V20 and find Schedule 1 para 4(2) / page 45; Schedule 1 para 3 / page 45. Compare the text with the quotation above. A copy is kept in this register: e863a30c73072b03-gen-v20.pdf (SHA-256 e863a30c73072b0323a4d064ab0e3f7e103428a7992f91360ed19a173a68e681, copy of the official file).
2. The finding holds if the quoted passages read as shown and the comparison gives the result stated at the top of this page. If it does not, write to us with the record ID.

How this finding was made

AI agents read the official texts, turned the provisions concerned into executable rules and ran the comparison; they also drafted this record. A person at Arxo checked the finding and approved the report before it was sent (2026-10-27).

Responsible institutions

• Astana Financial Services Authority (AFSA) — author of the AIFC Rules

Reported to

Responses

No response recorded.

History

1. 2026-10-23Confirmed by Arxo
2. 2026-10-27Entered in the register
3. 2026-10-27Reported to Astana Financial Services Authority (AFSA) (e-mail)

Cite this record

Arxo Law, Arxo Findings Register, ARXO-2026-0053, https://arxo.io/findings/ARXO-2026-0053/ (status as of 2026-10-25). Data: ARXO-2026-0053.json.