GEN 2.2.7 refers to requirements made under section 43(1) of the Framework Regulations; the matching waiver power is section 42(2)

GEN 2.2.7 lets a firm apply to waive "requirements made pursuant to Section 43(1)" in the light of a foreign registration or approval. Section 43(1) is the fit-and-proper criterion; the provision with the same wording about foreign approval is section 42(2), which allows waiving the requirements as to form and content under section 42(1).

Proposed correction

Please clarify whether GEN 2.2.7 concerns application requirements under section 42 of the Framework Regulations or substantive requirements, and cite the applicable waiver power.

Jurisdiction

Kazakhstan — AIFC

Act

AIFC General Rules (GEN), V20

Place

GEN 2.2.7 / page 17

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

2026-10-23

Evidence

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

Section 43(1) of the Framework Regulations in the light of any registration, authorisation or

The AFSA may only authorise an individual to carry on a Controlled Function if it is satisfied that the individual is fit and proper to be an Approved Individual.

The AFSA may waive all or any part of its generally adopted requirements as to the form and content of an application under section 42(1)

How to check it without Arxo's tools

1. Open AIFC General Rules (GEN), V20 and find GEN 2.2.7 / page 17. 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. Open AIFC Financial Services Framework Regulations, V12 and find FSFR V12 s.43(1); FSFR V12 s.42(2). Compare the text with the quotation above. A copy is kept in this register: 9c995b9be0e4359d-fsfr-v12.pdf (SHA-256 9c995b9be0e4359d9a595afe7d0a9d5d9f3a4597c3ee3255db2b2e1df520b5c3, copy of the official file).
3. 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-2026-0059, https://arxo.io/findings/ARXO-2026-0059/ (status as of 2026-10-23). Data: ARXO-2026-0059.json.