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The document ceased to be valid since September 8, 2014 according to Item 3 of the Order of the Government of the Republic of Kazakhstan of July 8, 2014 No. 777

ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of April 26, 2006 No. 326

About approval of Rules of tendering selling property (assets) of the debtor

(as amended on 18-10-2013)

According to the Law of the Republic of Kazakhstan of January 21, 1997 "About bankruptcy" the Government of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of tendering selling property (assets) of the debtor.

2. Recognize invalid some decisions of the Government of the Republic of Kazakhstan according to appendix.

3. This resolution becomes effective after ten calendar days from the date of its first official publication.

Prime Minister of the Republic of Kazakhstan

D. Akhmetov

Approved by the Order of the Government of the Republic of Kazakhstan of April 26, 2006 No. 326

Rules of tendering selling property (assets) of the debtor

These rules are developed according to the Civil code of the Republic of Kazakhstan, the Law of the Republic of Kazakhstan "About bankruptcy", other regulatory legal acts and regulate procedure for tendering selling property (assets) of the debtor, including rights to claim in insolvency proceedings on the principles of equal access to participation in the biddings and competition of bidders.

1. General provisions

1. In these rules the following concepts are used:

1) auction number - number assigned to the bidder;

2) the winner - the participant who offered top price for auction lot;

3) lot - subject or several objects which are at the same time sold at auction;

4) the starting price of lot - the price with which the biddings on each lot begin;

5) minimum price of lot - the price below which lot cannot be sold;

6) selling price - the final price of lot established as a result of the biddings;

7) the seller - the receiver;

8) the buyer - the winner who signed the purchase and sale agreement with the seller;

9) the bidder - the physical person or legal entity registered in the procedure established by these rules for participation in the biddings;

10) the organizer of the biddings - the physical person or legal entity which signed with the receiver the service provision agreement on tendering and is not interested in their results;

11) the English method of the biddings - method of the biddings in case of which the starting price raises with in advance announced step to the moment when there is one participant who offered top price;

12) the Dutch method of the biddings - method of the biddings in case of which the starting price goes down with the announced step to the moment when one of participants agrees to purchase lot of auction for the announced price.

13) authorized body in the field of bankruptcy - the state body performing state regulation in the field of bankruptcy (except for banks, the insurance (reinsurance) organizations and the Voluntary accumulation pension funds).

2. In case of bankruptcy of the organizations which are subjects of natural monopoly or subjects of the market, holding the dominating (exclusive) position in the goods market, or having important strategic importance for economy of the republic capable to exert impact on life, health of the citizens, homeland security or the environment and also declared bankrupt at the initiative of the state, the Government of the Republic of Kazakhstan for the purpose of protection of interests of citizens and the state has the right to establish special conditions and procedure for realization of competitive weight and additional requirements to buyers of objects of competitive weight.

3. Sale of property of the debtor is performed by the seller by tendering according to the sales plan of property (assets) of the debtor (further - the sales plan) approved and approved in the procedure established by these rules.

2. Procedure for creation, approval and approval of the sales plan of property of the debtor

4. The sales plan is constituted by the seller, according to appendix 1 to these rules, based on data of inventory count and assessment of competitive weight.

The sales plan of the property (assets) of the debtor which is agricultural organization contains additional term about initial exposure of property of the debtor to auction single lot with obligatory preserving core activity.

Are applied to the sales plan: the inventory report, the appraisal report (when evaluating) or the legal decision of creditor committee on consent to expose property at book value, documents of title, and also, in the cases provided by the current legislation, written approval of state bodies on realization of the rights to the property (assets) received in the procedure established by the legislation.

The sales plan affirms creditor committee of the debtor.

5. The seller involves the appraiser having the license for implementation of estimative activities whose fee is made at the expense of property of the debtor, except as specified, of the these rules provided in Item 7, within the estimate approved by creditor committee to evaluating property.

6. Involvement of the appraiser is made on competitive basis by method of request of price offers, with publication of the information message, according to appendix 2 to these rules, in the Kazakh and Russian languages in the periodic printing editions distributed in all territory of the Republic of Kazakhstan or the respective area (the city of republican value) on the location of the debtor and (or) his property.

At the same time the receiver represents the information message to authorized body for its publication on Internet resource of authorized body.

The authorized body within two working days places on Internet resource the information message provided to receivers about carrying out tender on purchase of services in assessment of property (assets) of the debtor.

7. In case of insufficiency of means for involvement of the appraiser, the receiver with the consent of creditor committee, according to article 14 of the Law of the Republic of Kazakhstan "About bankruptcy", the property having the right to put up for sale at book value.

8. When scheduling sale, the starting prices of objects of sale by the English and Dutch method of the biddings are established at a rate of not less than estimated value, and in the absence of assessment - at book value.

Receivables are put up for sale by the Dutch method with the starting price in the amount of its nominal rate.

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