{
  "id": "ARXO-2026-0108",
  "url": "https://arxo.io/findings/ARXO-2026-0108/",
  "record_kind": "discrepancy",
  "class": "amendments",
  "class_label": "Amendments",
  "jurisdiction": "KZ",
  "jurisdiction_detail": "AIFC",
  "act": "AIFC Collective Investment Scheme Rules (CIS), V8",
  "acts": [
    "AIFC Collective Investment Scheme Rules",
    "AIFC Islamic Finance Rules"
  ],
  "location": "CIS V8 3.1 (whole rule)",
  "text": {
    "en": {
      "title": "CIS 5.3(l)(ii) refers to 'property related assets, referred to in 3.1(b)' — CIS 3.1 has no paragraph (b)",
      "summary": "5.3(l)(ii) requires disclosure of the percentage of net assets that may consist of 'property related assets, referred to in 3.1(b)'. CIS 3.1 is the one-paragraph 'Application' rule of chapter 3 (arrangements not amounting to a CIS) and has no (b); no other rulebook is named. 'Property related assets' is not defined in CIS or Glossary V23.",
      "correction": "Please replace \"3.1(b)\" in CIS 5.3(l)(ii) with the intended provision, or define \"property related assets\"; the target does not follow from the text."
    }
  },
  "status": {
    "badge": "reported",
    "label": {
      "en": "Reported",
      "ru": "Сообщено"
    },
    "conclusion": "confirmed",
    "official_text": "unchanged",
    "addressee": "none",
    "last_checked": "2026-10-25",
    "fixed_on": null,
    "correction_type": null,
    "under_review": false
  },
  "origin": "The amending act",
  "evidence": {
    "method": "Contradiction within the text",
    "quotes": [
      {
        "location": "l1",
        "source": "Collective Investment Scheme Rules V8., with amendments as of 15 December 2024, commence on 1 January 2025",
        "role": "Normative text",
        "language": "en",
        "edition": null,
        "locator": "CIS V8 3.1 (whole rule)",
        "text": "This chapter sets out arrangements that do not amount to a Collective Investment Scheme in",
        "translations": {},
        "url": "https://aifc.kz/wp-content/uploads/2024/06/cis_v8_fr0009-01.01.2025.pdf",
        "sha256": "733512c03c358cc361a31decd44731fd64d90dcb747829a11e3d1382e4669fb7",
        "retrieved": "2026-10-23",
        "copy": "sources/733512c03c358cc3-cis_v8_fr0009-01.01.2025.pdf",
        "copy_sha256": "733512c03c358cc361a31decd44731fd64d90dcb747829a11e3d1382e4669fb7",
        "copy_kind": "copy of the official file"
      },
      {
        "location": "l2",
        "source": "Collective Investment Scheme Rules A3., with amendments as of 16 April 2023, commence on 1 June 2023",
        "role": "Amending act",
        "language": "en",
        "edition": null,
        "locator": "Amendments No. 3, page 5 (inserted text)",
        "text": "referred to in 3.1(b)",
        "translations": {},
        "url": "https://aifc.kz/wp-content/uploads/2024/06/cis_a3-01.06.2023.pdf",
        "sha256": "246115c48a9b6dcc965363841d924a864d80308e6e9c64234bb4e57c3548b35b",
        "retrieved": "2026-10-23",
        "copy": "sources/246115c48a9b6dcc-cis_a3-01.06.2023.pdf",
        "copy_sha256": "246115c48a9b6dcc965363841d924a864d80308e6e9c64234bb4e57c3548b35b",
        "copy_kind": "copy of the official file"
      },
      {
        "location": "l3",
        "source": "Collective Investment Scheme Rules V8., with amendments as of 15 December 2024, commence on 1 January 2025",
        "role": "Normative text",
        "language": "en",
        "edition": null,
        "locator": "CIS V8 5.3(l)(ii)",
        "text": "What percentage of the Property Fund’s net assets may consist of property related assets, referred to in 3.1(b), which are not traded in or dealt on markets provided for in the Constitution.",
        "translations": {},
        "url": "https://aifc.kz/wp-content/uploads/2024/06/cis_v8_fr0009-01.01.2025.pdf",
        "sha256": "733512c03c358cc361a31decd44731fd64d90dcb747829a11e3d1382e4669fb7",
        "retrieved": "2026-10-23",
        "copy": "sources/733512c03c358cc3-cis_v8_fr0009-01.01.2025.pdf",
        "copy_sha256": "733512c03c358cc361a31decd44731fd64d90dcb747829a11e3d1382e4669fb7",
        "copy_kind": "copy of the official file"
      }
    ]
  },
  "impact_shown": false,
  "notified": [
    {
      "date": "2026-10-27T07:53:59Z",
      "institution": "Astana Financial Services Authority (AFSA)",
      "channel": "email",
      "role": "author of the AIFC Rules"
    }
  ],
  "responsible": [
    {
      "institution": "Astana Financial Services Authority (AFSA)",
      "role": "author of the AIFC Rules"
    }
  ],
  "responses": [],
  "approval": "2026-10-27",
  "ai_role": {
    "en": "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)."
  },
  "credit": [],
  "press_date": null,
  "earlier_publications": [],
  "reproduction": [],
  "sources": [
    {
      "title": "Collective Investment Scheme Rules V8., with amendments as of 15 December 2024, commence on 1 January 2025",
      "url": "https://aifc.kz/wp-content/uploads/2024/06/cis_v8_fr0009-01.01.2025.pdf"
    },
    {
      "title": "Collective Investment Scheme Rules A3., with amendments as of 16 April 2023, commence on 1 June 2023",
      "url": "https://aifc.kz/wp-content/uploads/2024/06/cis_a3-01.06.2023.pdf"
    }
  ],
  "related": [],
  "first_published": "2026-10-27T08:42:00Z",
  "history": [
    {
      "date": "2026-10-24",
      "event": "confirmed",
      "text": "Confirmed by Arxo"
    },
    {
      "date": "2026-10-27",
      "event": "entered",
      "text": "Entered in the register"
    },
    {
      "date": "2026-10-27",
      "event": "reported",
      "text": "Reported to Astana Financial Services Authority (AFSA) (e-mail)"
    }
  ]
}