LAW OF THE REPUBLIC OF KAZAKHSTAN

of March 1, 2011 No. 413-IV ZRK

About state-owned property

This Law determines legal regime of state-owned property, the legal basis of management of state-owned property, including the property assigned to the state legal entities and the stocks and shares owned by the state in the authorized capital of legal entities, legal basis of acquisition of rights and termination of the rights to state-owned property and is aimed at providing effective implementation by the state of the rights of the owner and owner of other rights to state-owned property.

Section 1. Basic provisions about state-owned property

Chapter 1. General provisions about management of state-owned property

Article 1. The basic concepts used in this Law

In this Law the following basic concepts are used:

1) district municipal legal entities - the district state companies and district public institutions created by local executive bodies of areas, cities of regional value;

2) district municipal property - property of the area, city of regional value, including the budget of the area, city of regional value and other property which is not assigned to district municipal legal entities and also the property assigned to district municipal legal entities;

2-1) municipal property of the city of district value, villages, the settlement, the rural district (further - municipal property of local self-government) - the property of the city of district value, the village, settlement, rural district, including budget funds of the city of district value, the village, settlement, selky district, and also the property fixed and (or) not assigned to municipal legal entities of local self-government;

2-2) No. 48-VII ZRK is excluded according to the Law of the Republic of Kazakhstan of 08.06.2021

2-3) social business corporation - the regional institute of development in the form of joint-stock company created according to the decision of local executive bodies of areas, cities of republican value, the capital which controlling stock the state owns performing assistance to development of economy of the region;

2-4) independent member of the supervisory board - the member of the supervisory board which is not affiliate of this state company on the right of economic maintaining also were not him within three years preceding its election in the supervisory board is not affiliate in relation to affiliates of this state company; it is not connected by subordination with officials of this state company on the right of economic maintaining or the organizations - affiliates of this state company and it was not connected by subordination with these persons within three years preceding its election in the supervisory board; is not government employee; does not participate in audit of this state company as the auditor working as a part of auditing organization and did not participate in such audit within three years preceding its election in the supervisory board;

3) the development plan - the document determining the main activities and indicators of financial and economic activities of the state company, joint-stock company and limited liability partnership, controlling stock (share in the authorized capital) which belongs to the state, for the five-year period;

4) No. 95-VII ZRK is excluded according to the Law of the Republic of Kazakhstan of 30.12.2021

5) object of accounting - the state-owned property considered in the register of state-owned property;

6) privatization - sale of state-owned property by the state to physical persons, non-state legal entities within the special procedures established by this Law, except for sales of state-owned property of the state-owned Islamic special finance company;

6-1) municipal legal entities of local self-government - the municipal state companies and municipal public institutions which property is in municipal city property of district value, the village, settlement, rural district (municipal property of local self-government);

7) municipal legal entities - the municipal state companies and municipal public institutions which property is in municipal property;

8) municipal property - property of administrative and territorial units;

8-1) corporate management - set of the processes which are providing management of activities of the state companies and legal entities with the state participation and including the relations between the owner (shareholder), the supervisory board (board of directors), executive body (board), other bodies of the state companies and legal entities with the state participation and interested persons for the benefit of the owner (shareholder);

9) the priority right of the Republic of Kazakhstan to acquisition of strategic object - the right of the Republic of Kazakhstan, priority before the third parties, to the redemption of strategic objects on market value at the physical or non-state legal person who belongs strategic object in case such person intends to make the transaction on alienation of strategic object, and also in case of the address of collection on strategic object or alienations of strategic object by the rehabilitation or bankrupt managing director, as a part of the estate or realization of pledged property (strategic object) by the pawnbroker in out of - legal process, or addresses of collection on strategic object based on court resolution;

10) the state company - the commercial organization allocated with the state property on the right of operational management;

11) the state needs - availability of need for transition of the property which is in private property in state-owned property for satisfaction of the state interests following from functions of the state and pursuing the socially significant aims;

12) nationalization - forced paid property acquisition, belonging to physical persons and non-state legal entities, in structure of property of the Republic of Kazakhstan, performed based on the law of the Republic of Kazakhstan on nationalization;

13) authorized body on management of the corresponding industry (sphere) of public administration (further - authorized body of the corresponding industry) - the central executive body or department of the central executive body determined by the Government of the Republic of Kazakhstan, which are performing management of the corresponding industry (sphere) of public administration and having rights concerning republican property on the conditions provided by this Law and other laws of the Republic of Kazakhstan. In cases of transfer by the Government of the Republic of Kazakhstan of the rights concerning republican property to other state bodies of the rule of this Law on authorized body of the corresponding industry extend to such state body;

14) the state legal entities - the state companies and public institutions;

15) public institution - the non-profit organization created by the state and containing only for the budget account or the budget (expense budget) of National Bank of the Republic of Kazakhstan if additional sources of financing are not established by the laws of the Republic of Kazakhstan, for implementation of managerial, welfare or other functions of non-commercial nature;

16) the right of operational management of public institution or state company (further - the right of operational management) - the corporeal right of the public institution or state company which received property from the state as the owner and performing in the limits set by the Civil code of the Republic of Kazakhstan, this Law and other laws of the Republic of Kazakhstan according to the authorized purposes of the activities, tasks of authorized state bodies and purpose of property of right of possession, use and the order of this property;

16-1) commission on questions of privatization of objects of state-owned property - the collegiate organ created by authorized body on management of state-owned property or local executive body for the preparation and tendering on privatization provided by this Law;

17) state-owned property - republican and municipal property;

18) management of state-owned property - implementation by the state (The Republic of Kazakhstan or administrative and territorial unit) of the right of state-owned property and other property rights;

19) authorized body on management of state-owned property (further - authorized body on state-owned property) the central executive body performing within the competence management in the sphere of management of republican property, realization of the rights of the state to republican property, privatization and the state monitoring of property in the industries of economy having strategic importance and strategic objects, except for the property assigned to National Bank of the Republic of Kazakhstan;

20) accounting of state-owned property - the ordered system of collection and generalization of information on objects of accounting for forming of the register of state-owned property according to the rules provided by Chapter 15 of this Law;

21) the single operator in the sphere of accounting of state-owned property - the legal entity with participation of the state in the authorized capital determined by the decision of the Government of the Republic of Kazakhstan to which tasks on realization of single technical policy in the sphere of the organization and accounting of state-owned property, and also function on management and operation of assets of territorial subdivisions of authorized body on state-owned property according to the list approved by authorized body on state-owned property are assigned;

22) the register of state-owned property - the single information automated system of accounting of state-owned property, except for the property which is in operational management of special state bodies, Armed Forces, other troops and military forming of the Republic of Kazakhstan, and the state material reserve;

23) property rights of the state - the rights of the state to property including:

right of state-owned property;

other corporeal rights of the state (servitude, lease, free use by property and others);

liability laws (rights to claim) of the state;

exclusive rights on the intellectual property items belonging to the state;

succession law;

other property rights of the state provided by the laws of the Republic of Kazakhstan;

24) conflict of interest - situation in case of which there is contradiction between personal interest of the member of the supervisory board and proper execution of the ex-officio full powers by it or legitimate interests of physical persons and legal entities, the states, capable to lead to damnification to these legitimate interests;

25) property compulsory acquisition for the state needs - withdrawal of the parcel of land belonging to physical persons or non-state legal entities or other real estate in connection with withdrawal of the parcel of land in structure of state-owned property, the requisition, nationalization made for the state needs in exceptional cases established by the laws of the Republic of Kazakhstan and on condition of equivalent compensation;

26) regional municipal legal entities - the regional state companies and regional public institutions created by local executive bodies of areas, cities of republican value, the capital;

27) regional municipal property - property of area, city of republican value, the capital, including the regional budget and other property which is not assigned to regional municipal legal entities and also the property assigned to regional municipal legal entities, except for district municipal property;

28) requisition - withdrawal according to the decision of state bodies of property at the owner for the benefit of society in case of natural disasters, accidents, epidemics, epizooty, during action of warlike situation or wartime and under other circumstances having extreme character with payment to the owner of property value;

29) republican legal entities - the republican state companies and republican public institutions which property is in republican property;

30) republican property - property of the Republic of Kazakhstan, except for municipal property;

30-1) No. 48-VII ZRK is excluded according to the Law of the Republic of Kazakhstan of 08.06.2021

30-2) No. 48-VII ZRK is excluded according to the Law of the Republic of Kazakhstan of 08.06.2021

30-3) No. 48-VII ZRK is excluded according to the Law of the Republic of Kazakhstan of 08.06.2021

30-4) No. 48-VII ZRK is excluded according to the Law of the Republic of Kazakhstan of 08.06.2021

30-5) No. 48-VII ZRK is excluded according to the Law of the Republic of Kazakhstan of 08.06.2021

30-6) No. 48-VII ZRK is excluded according to the Law of the Republic of Kazakhstan of 08.06.2021

31) strategic object - the property having social and economic value for sustainable development of the Kazakhstan society, ownership and (or) use, and (or) the order to which will exert impact on condition of homeland security of the Republic of Kazakhstan;

31-1) No. 48-VII ZRK is excluded according to the Law of the Republic of Kazakhstan of 08.06.2021

31-2) No. 48-VII ZRK is excluded according to the Law of the Republic of Kazakhstan of 08.06.2021

31-3) No. 48-VII ZRK is excluded according to the Law of the Republic of Kazakhstan of 08.06.2021

32) national managing holding - joint-stock company, the founder and which single shareholder is the Republic of Kazakhstan on behalf of the Government of the Republic of Kazakhstan, created for effective management of shares (shares in the authorized capital) national institutes of development, the national companies and other legal entities;

32-1) No. 48-VII ZRK is excluded according to the Law of the Republic of Kazakhstan of 08.06.2021

32-2) development plan for national managing holdings, national holdings and the national companies - the document determining and proving mission, vision, strategic objectives and tasks of national managing holding, national holding, national company for the ten-year period;

33) national institutes of development - the financial, consulting, innovative, service organizations created according to the decision of the Government of the Republic of Kazakhstan in form of business of joint-stock companies which main goal of activities is projects implementation in the field of industrial and innovative development and support of entrepreneurship;

34) the national company - the joint-stock company created according to the decision of the Government of the Republic of Kazakhstan which controlling stock the state owns, to national managing holding or national holding, performing activities in the industries constituting fundamentals of national economy;

35) national holding - joint-stock company, the founder and which single shareholder if other is not established by the laws of the Republic of Kazakhstan, the Republic of Kazakhstan on behalf of the Government of the Republic of Kazakhstan is, created for effective management of shares of the national companies and other joint-stock companies and shares in the authorized capital of limited liability partnerships;

36) the right of economic maintaining - the corporeal right of the state company on the right of the economic maintaining which received property from the state as the owner and performing in the limits set by the Civil code of the Republic of Kazakhstan, this Law and other laws of the Republic of Kazakhstan, right of possession, use and the order of this property;

37) the state company on the right of economic maintaining - the commercial organization allocated with the state property on the right of economic maintaining and answering for the obligations all property belonging to it;

37-1) affiliates of the state company on the right of economic maintaining - the physical persons or legal entities (except for the state bodies performing control and supervising functions within the powers conferred to them) having opportunity directly and (or) indirectly to make decisions and (or) to exert impact on accepted with each other (one of persons) decisions, including owing to the concluded bargain;

37-2) actions plan - the document determining the main activities and indicators of financial and economic activities of national managing holding, national holding and national company for the five-year period.

38) No. 48-VII ZRK is excluded according to the Law of the Republic of Kazakhstan of 08.06.2021

Article 2. Types of state-owned property

1. The state-owned property is subdivided into republican and municipal property.

2. Is part of republican property:

1) property of the state treasury:

means of the republican budget and means of National fund of the Republic of Kazakhstan;

other state-owned property which is not assigned to republican legal entities;

2) the property assigned to republican legal entities.

3. Is part of municipal property:

1) property of local treasury:

means of the local budget;

other municipal property which is not assigned to municipal legal entities;

2) the property assigned to municipal legal entities.

Article 3. Legislation of the Republic of Kazakhstan on state-owned property

1. The legislation of the Republic of Kazakhstan on state-owned property is based on the Constitution of the Republic of Kazakhstan and consists of this Law and other regulatory legal acts of the Republic of Kazakhstan.

The legal regime of state-owned property is determined by the Civil code of the Republic of Kazakhstan, this Law and other laws of the Republic of Kazakhstan.

2. The republican property can be outside the Republic of Kazakhstan, and municipal property - outside this administrative and territorial unit or the Republic of Kazakhstan according to international treaties of the Republic of Kazakhstan, decisions of the Government of the Republic of Kazakhstan, and also on other bases provided by the Civil code of the Republic of Kazakhstan and other laws of the Republic of Kazakhstan.

3. The legal regime of the state-owned property of the Republic of Kazakhstan which is outside the Republic of Kazakhstan is determined by the legislation of foreign state where there is this property if other is not provided by the international treaties ratified by the Republic of Kazakhstan, or the laws of the Republic of Kazakhstan.

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

Article 4. Subject of regulation of this Law

1. This Law determines the rights and obligations of the state in the sphere of management of state-owned property, establishes procedure of property rights of the state, including ownership, use and the order of the property belonging to the state on the property right, procedure for acquisition of rights and termination of the rights to state-owned property including in case of nationalization and privatization of property, and also ownership and (or) use of it of physical persons and non-state legal entities.

2. This Law establishes procedure for property management, assigned to the state legal entities, shares of joint-stock companies and the shares in the authorized capital of limited liability partnerships belonging to the state and other state-owned property.

3. Features of legal regime of strategic objects are determined by the Civil code of the Republic of Kazakhstan, this Law and other laws of the Republic of Kazakhstan.

3-1. Features of implementation by the state of the rights according to the order idle property are established by the Law of the Republic of Kazakhstan "About defense industry and the state defensive order", except for other rights established by this Law.

4. Implementation by the state of the rights to budgetary funds and means of National fund of the Republic of Kazakhstan is regulated by the Budget code of the Republic of Kazakhstan. The concept of state-owned property provided by this Law extends to the concept of assets of the state used by the Budget code of the Republic of Kazakhstan with the features provided by the Budget code of the Republic of Kazakhstan.

Features of implementation by the state of the rights to other property relating to the state or local treasury are established by the laws of the Republic of Kazakhstan.

5. Implementation by the state of the rights to historical and cultural monuments, cultural values is regulated by the Civil code of the Republic of Kazakhstan, this Law and other laws of the Republic of Kazakhstan.

6. Implementation of exclusive rights by the state on intellectual property items is regulated by the Civil code of the Republic of Kazakhstan and other laws of the Republic of Kazakhstan.

7. Provisions of this Law on national managing holdings, national holdings, the national companies and other legal entities controlled by the state or national managing directors of holdings are applied to National welfare fund and group of National welfare fund, and other legal entities controlled by it if other is not provided by the Law of the Republic of Kazakhstan "About National welfare fund".

8. The National Bank of the Republic of Kazakhstan on behalf of the Republic of Kazakhstan independently performs rights of possession, uses and orders of the property assigned to it which is on its balance and property management of the legal entities created by National Bank of the Republic of Kazakhstan, and also regulation of their activities.

9. The provisions of this Law applied concerning joint-stock companies and limited liability partnerships extend to cases of performance of the state as the founder (the participant, the investor, the shareholder, the member) of the legal entities registered according to the law in force of the International financial center "Astana" including regarding acquisition of rights of property rights by the state to shares (shares in the authorized capital) if acts of the International financial center "Astana" do not provide possibility of establishment of other procedure between members (shareholders) of legal entities.

Article 5. Scope of this Law

Operation of this Law extends on:

1) the state-owned property which is in the territory of the Republic of Kazakhstan;

2) the state bodies, local executive bodies and local government bodies exercising control of state-owned property, the state legal entities and also in the cases provided by it - on physical persons and non-state legal entities;

3) the relations on management of municipal property of the city of republican value, the capital, state-owned property of special economic or industrial zone, the state material reserve taking into account the features established by the laws of the Republic of Kazakhstan "About special status of the city of Almaty", "About the status of the capital of the Republic of Kazakhstan", "About special economic and industrial zones", "About civil protection".

Article 6. Principles of management of state-owned property

Control of state-owned property is exercised according to the following principles:

1) legality;

2) accountability and submission to control;

3) publicity;

4) effective use of state-owned property for the benefit of society;

5) providing conditions for competition development.

Article 7. Subjects of management of state-owned property

1. Depending on type of state-owned property control of state-owned property is exercised by the Republic of Kazakhstan or administrative and territorial unit of the Republic of Kazakhstan.

2. On behalf of the Republic of Kazakhstan the Government of the Republic of Kazakhstan will organize management of state-owned property and manages republican property.

3. On behalf of administrative and territorial unit of area, the city of republican value, the capital, the area, the city of regional value control of municipal property is exercised of local executive body.

4. On behalf of administrative and territorial unit of the city of district value, the village, the settlement, the rural district control of municipal property of local self-government is exercised of the office of the akim of the city of district value, the village, settlement, rural district according to competence, the stipulated in Clause 18-1 this Law.

Article 8. Management of state-owned property

1. Under management of republican property the Government of the Republic of Kazakhstan will organize interaction of state bodies of the Republic of Kazakhstan on realization of the rights of the Republic of Kazakhstan to republican property by them within their competence established by Chapter 2 of this Law and other laws of the Republic of Kazakhstan, provisions and other acts determining the status of these state bodies.

2. Under management of municipal property local executive bodies according to the legislation of the Republic of Kazakhstan will organize interaction of local executive bodies and local government bodies on realization of the rights to municipal property by them within their competence established by Chapter 2 of this Law and other laws of the Republic of Kazakhstan, provisions and other acts determining the status of these state bodies.

Competence of the Government of the Republic of Kazakhstan concerning municipal property is determined by article 11 of this Law and other legislation of the Republic of Kazakhstan.

3. Check of safety of republican and municipal property is performed by bodies of the state audit and financial control according to the Law of the Republic of Kazakhstan "About the state audit and financial control".

4. The state-owned property can be assigned to the state legal entities on the right of economic maintaining or operational management.

5. The state (The Republic of Kazakhstan or administrative and territorial unit) can be the founder (the shareholder, the participant) of joint-stock companies, limited liability partnerships, the legal entities registered according to the law in force of the International financial center "Astana" and the state legal entities.

The performance of the state as the founder (the participant, the investor, the member) of legal entities of the Republic of Kazakhstan, being the commercial organizations, in other form of business is not allowed.

6. The state (The Republic of Kazakhstan or administrative and territorial unit) can be the founder of the state fund which is non-profit organization. Creation and activities of the state fund, and also other non-profit organizations in other forms of business with participation of the state are regulated by the laws of the Republic of Kazakhstan.

Article 9. Cession of property from one type of state-owned property in another

1. The cession of property from structure of republican property in structure of municipal property or on the contrary does not attract the termination of the rights of the state to property, but is the basis for the termination of the rights of the Republic of Kazakhstan to republican property and acquisitions of rights by administrative and territorial unit of the rights to municipal property or for the termination of the rights of administrative and territorial unit to municipal property and acquisitions of rights by the Republic of Kazakhstan of the rights to republican property.

2. Transfer of the state-owned property assigned to the state legal entities from one type of state-owned property in another is performed according to the procedure, determined by the central authorized body by state planning.

Article 10. Transfer of municipal property from one level of local public administration and self-government in another

1. The municipal property is divided on the level of local public administration and self-government into regional municipal property, district municipal property and municipal property of local self-government.

The property which arrived in state-owned property on the bases provided by Articles 23, of 24, of 26, of 30, 31 and 32 presents of the Law is part of district municipal property, in particular.

Level of local public administration by municipal property of the city of republican value, the capital is equated to the level of local public administration by municipal property of area. In the city of republican value and the capital the district level of local public administration is not allocated with municipal property and not created. The competence of local executive body of the area provided by this Law on management of municipal property is performed by local executive body of the city of republican value or the capital if other is not provided by the laws of the Republic of Kazakhstan.

Level of local public administration by municipal property of the city of regional value is equated to the level of local public administration by municipal property of the area.

1-1. Transfer of district municipal property to structure of municipal property of local self-government or on the contrary does not attract the termination of the rights of the state to property, but is the basis for the termination of the rights of administrative and territorial unit of the area (the city of regional value) to district municipal property and acquisitions of rights by administrative and territorial unit of the city of district value, the village, settlement, rural district on municipal property of local self-government or termination of the rights of administrative and territorial unit of the city of district value, the village, settlement, rural district on municipal property of local self-government and acquisition of rights by area administrative and territorial unit (the city of regional value) on district municipal property.

2. Transfer of state-owned property from one level of local public administration in another is performed by municipal property according to the decision of local executive body of area.

3. Transfer of the state-owned property assigned to municipal legal entities from one level of local public administration and self-government in another is performed by municipal property in the following procedure:

1) property complexes of regional municipal legal entities, the shares of joint-stock companies and share in the authorized capital of limited liability partnerships relating to the level of regional municipal property are transferred to the level of district municipal property according to the decision of local executive body of area based on petitions of local executive bodies of areas, the cities of regional value;

2) the property of regional municipal legal entities is transferred to the level of district municipal property based on petitions of local executive bodies of areas, the cities of regional value according to the decision of local executive body of area;

3) property complexes of district municipal legal entities, the shares of joint-stock companies and share in the authorized capital of limited liability partnerships relating to the district level of municipal property are transferred to the regional level of municipal property based on decisions of local executive bodies of areas, the cities of regional value and the decision of local executive body of area;

4) the property of district municipal legal entities is transferred to the level of regional municipal property based on decisions of local executive bodies of areas, the cities of regional value and local executive body of area;

5) the property complexes of district municipal legal entities relating to the district level of municipal property are transferred to the level of municipal property of local self-government according to the decision of local executive body of the area (the city of regional value) based on the petition of the office of the akim of the city of district value, the village, the settlement, the rural district (in coordination with meeting of local community);

6) the property of district municipal legal entities is transferred to the level of municipal property of local self-government based on the petition of the office of the akim of the city of district value, the village, the settlement, the rural district (in coordination with meeting of local community) according to the decision of local executive body of the area (the city of regional value);

7) the property complexes of municipal legal entities of local self-government relating to the level of municipal property of local self-government are transferred to the district level of municipal property based on solutions of the office of the akim of the city of district value, the village, settlement, rural district (in coordination with meeting of local community) and local executive body of the area (the city of regional value);

8) the property of municipal legal entities of local self-government is transferred to the level of district municipal property based on solutions of the office of the akim of the city of district value, the village, settlement, rural district (in coordination with meeting of local community) and local executive body of the area (the city of regional value).

4. After decision making about transfer of state-owned property from one level of local public administration and self-government the municipal property in another in 30-days time draws up the transfer act signed by authorized officers of the transferring and accepting parties and approved as heads of local executive bodies of areas, areas, cities of regional value, and also offices of akims of the cities of district value, villages, settlements, rural districts.

The transfer statement is drawn up in four copies in the Kazakh and Russian languages on two copies for each of the parties participating in execution of the transfer act.

5. The procedure established by this Article is applied to transfer of the municipal property which is not assigned to the state legal entities from one level of local public administration and self-government in another if other is not provided by the laws of the Republic of Kazakhstan.

Chapter 2. Competence of state bodies on management of state-owned property

Article 11. Competence of the Government of the Republic of Kazakhstan of the sphere of management of state-owned property

Government of the Republic of Kazakhstan:

1) performs policy of effective management of state-owned property;

2) publishes regulatory legal acts in the sphere of management of state-owned property within the competence;

3) will be organized by management of state-owned property, develops and performs measures for its use, provides protection of the right of state-owned property;

4) makes decisions on creation, reorganization and liquidation of republican legal entities, national managing holdings, national holdings, national companies, and also other joint-stock companies and limited liability partnerships concerning which the Republic of Kazakhstan acts as the single shareholder (participant);

5) makes decisions on issue or refusal in issue of permission to encumbrance of strategic objects by the third party rights or their alienation;

6) No. 239-V ZRK is excluded according to the Law of the Republic of Kazakhstan of 29.09.2014

7) No. 239-V ZRK is excluded according to the Law of the Republic of Kazakhstan of 29.09.2014

8)  No. 239-V ZRK is excluded according to the Law of the Republic of Kazakhstan of 29.09.2014

9)  No. 239-V ZRK is excluded according to the Law of the Republic of Kazakhstan of 29.09.2014

9-1)  No. 239-V ZRK is excluded according to the Law of the Republic of Kazakhstan of 29.09.2014

10) accepts resolutions on the beginning of compulsory acquisition of the parcel of land or other real estate in connection with withdrawal of the parcel of land for the state needs or the termination of compulsory acquisition of the parcel of land or other real estate in connection with withdrawal of the parcel of land for the state needs;

11) makes the decision on privatization of the organizations which are the subjects of natural monopoly or subjects of the market holding the dominating or monopoly position in the market;

12) makes the decision on share transfer of joint-stock companies and shares in limited liability partnerships concerning which the Republic of Kazakhstan is shareholder (participant), and the strategic objects which are in republican property in payment of shares of joint-stock company or in the authorized capital of limited liability partnership;

12-1) makes the decision on organization of the state-owned Islamic special finance company, on release of the government Islamic securities based on which sale of state-owned property of the state-owned Islamic special finance company with the obligation of its return redemption is performed, on property exchange, sold to the state-owned Islamic special finance company, and also on the early redemption and (or) repayment of the government Islamic securities in accordance with the terms of release of the government Islamic securities;

13) makes the decision on share acquisition of joint-stock company and share in the authorized capital of limited liability partnership in structure of republican property;

14) is performed by the right of the state as shareholder (participant) on participation in management of national managing directors of holdings, national holdings, the national companies, other joint-stock companies and limited liability partnerships with participation of the state or the authorized body on state-owned property gives this right;

15) makes decisions on use of material values of the state material reserve for rendering the regulating impact on the market, the help to refugees and the humanitarian assistance;

15-1) No. 223-VII ZRK is excluded according to the Law of the Republic of Kazakhstan of 19.04.2023

15-2) determines limits of separate types of administrative expenses of national managing holdings (except for National welfare fund), national holdings and the national companies which controlling stocks the state owns, and also the national companies which are part of national managing holdings (except for the national companies which are part of group of National welfare fund), national holdings and the mechanism of carrying out their monitoring.

Limits of separate types of administrative expenses of National welfare fund, and also the national companies which are part of group of National welfare fund affirm according to the Law of the Republic of Kazakhstan "About National welfare fund";

15-3) makes the decision on share acquisition, share, shares and other forms of equity in the legal entities registered according to the law in force of the International financial center "Astana" performs the right of the state as shareholder (participant, investor, member) on participation in management of such legal entities or the authorized body on state-owned property gives this right;

16) performs other powers provided by the Constitution, this Law, other laws of the Republic of Kazakhstan and acts of the President of the Republic of Kazakhstan.

Article 12. Competence of National Bank of the Republic of Kazakhstan on management of state-owned property

National Bank of the Republic of Kazakhstan:

1) publishes the legal acts of individual application governing the relations in the sphere of management of the state-owned property assigned to National Bank of the Republic of Kazakhstan;

2) manages the state-owned property assigned to National Bank of the Republic of Kazakhstan, provides protection of the right of state-owned property;

2-1) determines procedure for development, approval of development plans for the joint-stock companies controlled by the state, limited liability partnerships, shareholder (the participant, the trustee) of which is the National Bank of the Republic of Kazakhstan, and the state companies created by it, monitoring and assessment of their realization, and also reports on their execution;

3) is performed by alienation, transfers to use the property assigned to National Bank of the Republic of Kazakhstan;

4) makes the decision on creation, reorganization, change of the name and liquidation, alienation of the state companies established by it, joint-stock companies and limited liability partnerships;

4-1) according to the decision of the President of the Republic of Kazakhstan performs reorganization and liquidation of departments of National Bank of the Republic of Kazakhstan;

5) on behalf of the Republic of Kazakhstan acts as the founder of the joint-stock companies and limited liability partnerships including promoting implementation by National Bank of the Republic of Kazakhstan of the functions assigned to it and (or) being part of infrastructure of the financial market, performs the right of the state as shareholder (participant) on participation in management of joint-stock company and limited liability partnership, and also makes the decision on acquisition or alienation of the share (share) of data of joint-stock companies and limited liability partnerships;

6) performs on behalf of the Republic of Kazakhstan the rights of the person of law of republican property concerning property of the state companies created by it;

7) is independently determined by subject and the purposes of activities of the state companies created by it, and also type of the state company (on the right of economic maintaining or operational management), approves their charter, introduction in it of changes and amendments;

8) agrees to the state company created by it to alienation or the order otherwise, including transfer to use of the property assigned to it (except for sales of products made by it), creation of branches and representations, and also transfer and write-off of receivables;

8-1) exercises trust management of the state-owned property delivered to it in trust management of the Government of the Republic of Kazakhstan, according to the procedure and on the conditions provided by the agreement;

8-1) exercises trust management of the state-owned property delivered to it in trust management of the Government of the Republic of Kazakhstan, according to the procedure and on the conditions provided by the agreement;

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