Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

LAW OF THE REPUBLIC OF KAZAKHSTAN

of May 2, 1995 No. 2255

About economic partnerships

(as amended on 02-04-2019)

Section I. General provisions

Article 1. Basic provisions about economic partnership

1. Economic partnership the commercial organization, being the legal entity, with the authorized capital divided into deposits (shares) of founders (participants), having generation of profit as main objective of the activities is recognized.

2. Economic partnerships can be created in the form of complete partnership, partnership in commendam, limited liability partnership, partnership with the accessorial liability.

3. No. 106-V ZRK is excluded according to the Law of the Republic of Kazakhstan of 21.06.2013

Article 2. Legislation on economic partnerships

1. The legislation of the Republic of Kazakhstan on economic partnerships is based on the Constitution of the Republic of Kazakhstan, consists of this Law and other regulatory legal acts of the Republic of Kazakhstan.

2. If the international treaty ratified by the Republic of Kazakhstan establishes other rules, than those which are provided by this Law then are applied rules of the international treaty.

3. The minimum size of the authorized capital, feature of its education and use, legal regime of property, restriction of economic activity of separate types of the commercial organizations established in the form of economic partnerships along with this Law are regulated by special legal acts or in the procedure established by special legal acts.

The general rules about economic partnerships containing in this Law are applied to separate types of economic partnerships taking into account the features established by the legal acts of the Republic of Kazakhstan regulating their activities.

Article 3. Participants of economic partnership

1. Citizens can only be participants of complete partnership and complete companions in partnership in commendam.

2. The citizen can be the participant only of one complete partnership or the complete companion in one partnership in commendam.

3. In complete partnership there shall be at least two participants.

4. Citizens and legal entities can be members of limited liability partnership, partnership with the accessorial liability and investors in partnership in commendam.

Participation of the state in economic partnerships and feature of management of them are determined by the Law of the Republic of Kazakhstan "About state-owned property".

5. The limited liability partnership, partnership with the accessorial liability can be created by one person or consist of one person in case of acquisition by this person of all shares of the authorized capital of partnership.

6. Foreign states, the international organizations, foreign legal entities and citizens, and also persons without citizenship take part in the economic partnerships created according to this Law, in accordance with general practice, if other is not established by legal acts.

Article 4. Constituent documents of economic partnership. State registration of economic partnership

1. Constituent documents of economic partnership are the foundation agreement and the charter.

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

2. The constituent document of economic partnership which is founded by one person is the charter.

3. Contents of the foundation agreement of economic partnership represent trade secret. The foundation agreement is subject to presentation in the state or other official organs, and also to the third parties only according to the decision of participants of economic partnership or in the cases established by legal acts.

All interested persons have the right to study the charter of economic partnership.

4. The foundation agreement of economic partnership is signed by all his participants.

5. The charter of economic partnership is signed by the founder appointed according to the foundation agreement the managing director of this partnership or person designated by participants of economic partnership his first head (management official) if other procedure is not provided by legal acts.

The charter of economic partnership which founder is one person is signed by this founder.

6. No. 60-V ZRK is excluded according to the Law of the Republic of Kazakhstan of 24.12.2012

7. In the foundation agreement founders shall create economic partnership, establish procedure for activities for its creation and determine conditions: transfers of the property to partnership property; conditions in its activities; distributions between founders of profit and losses; managements of its activities; exit from its structure; about the size of shares of each of founders; about the size, structure, terms and procedure for introduction of deposits by them; responsibility of founders for violation of obligations on introduction of deposits; about the size and structure of the authorized capital.

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