Document from CIS Legislation database © 2003-2022 SojuzPravoInform LLC

LAW OF THE REPUBLIC OF KAZAKHSTAN

of October 5, 1995 No. 2486

About production cooperative

(as amended on 24-11-2021)

Chapter 1. General provisions

Article 1. Concept of production cooperative

1. Production cooperative voluntary consolidation of citizens on the basis of membership for the joint business activity based on their personal labor participation and consolidation by his members of property fees (shares) is recognized.

2. The production cooperative is the commercial organization.

3. The production cooperative is legal entity.

Article 1-1. Basic principles of creation and activities of production cooperatives

Production cooperatives function on the basis of the following principles:

voluntariness of the introduction and exit;

obligation of introduction of property (share) fee;

democratic character of management;

mutual assistance and providing economic benefit for his members;

availability of information on activities of production cooperative.

Article 2. Activities of production cooperatives

1. The production cooperative has the right to perform the any kind of business activity which is not forbidden by legal acts for private entrepreneurship.

2. Activities to which the state licensing extends are performed by production cooperative in the presence of the license.

3. The subject and the purposes of activities of production cooperative are determined by the charter.

4. When implementing the activities regulated by the special legislation, production cooperatives are guided by also this Law.

In case of contradiction of regulations of the legal acts which are specially regulating separate types of business activity, to regulations of this Law regulations of legal acts are applied.

Article 2-1. Coverage of this Law

1. Operation of this Law extends to the relations regulating activities of production cooperatives, organizational, economic and social conditions of their creation, activities, reorganization and liquidation, the right and obligation of members, powers and responsibility of governing bodies and control.

2. Operation of this Law does not extend to the relations on regulation of legal status of the agricultural cooperative formed in the form of production cooperative, and also legal status, the rights and obligations of his members which are determined by the Law of the Republic of Kazakhstan "About agricultural cooperatives".

Chapter 2. Formation of production cooperative

Article 3. Procedure for formation of production cooperative

1. The production cooperative is formed according to the decision of general meeting of founders - physical persons.

If founder (member) of production cooperative is the foreign citizen, operation of this Law taking into account the features provided by the Entrepreneurial code of the Republic of Kazakhstan extends to the organization and activities of such cooperative.

2. Founders of production cooperative there shall be at least two.

3. After formation of production cooperative founders become members of cooperative and have identical rights and obligations with other members of production cooperative.

Article 4. Constituent documents of production cooperative

The production cooperative performs the activities based on the foundation agreement and the charter.

The subjects of small, medium and big business created in form of business of production cooperative can perform the activities based on the standard charter which contents are determined by the Ministry of Justice of the Republic of Kazakhstan.

Article 5. Foundation agreement of production cooperative

1. The foundation agreement of production cooperative shall contain:

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