of August 9, 2011 No. 920
About approval of Rules of sale of subjects to privatization
According to Item 2 of article 100 of the Law of the Republic of Kazakhstan of March 1, 2011 "About state-owned property" the Government of the Republic of Kazakhstan DECIDES:
1. Approve the enclosed Rules of sale of subjects to privatization.
2. Recognize invalid some decisions of the Government of the Republic of Kazakhstan according to appendix to this resolution.
Prime Minister of the Republic of Kazakhstan
Approved by the Order of the Government of the Republic of Kazakhstan of August 9, 2011 No. 920
1. These rules are developed according to Item 2 of article 100 of the Law of the Republic of Kazakhstan of March 1, 2011 "About state-owned property" (further - the Law) and regulate procedure for sale of subjects to privatization at the biddings in forms of auction, the tender, the closed tender and tender by two-stage procedures, and also securities belonging to the state on the stock exchanges functioning in the territory of the Republic of Kazakhstan or foreign states and sales of the derivative securities certifying the share rights of joint-stock companies belonging to the state.
2. In these rules the following basic concepts are used:
1) current price – the price of subject to privatization developing during trading at auction;
2) the initial price – the price determined based on market value of subject to privatization, established by the commission on questions of privatization of objects of state-owned property;
3) auction – form of the biddings in case of which participants declare the offers publicly, carried out with use of the web portal of the register in electronic format;
4) the salesroom – the Section of the web portal of the register providing possibility of input, storage and the information processing necessary for holding the auction;
5) auction number – number assigned to the participant for participation at auction in the presence of the digital signature issued by national certification center of the Republic of Kazakhstan;
6) the starting price - the price with which the biddings on each subject to privatization begin;
7) tender by two-stage procedures – form of the biddings in case of which the winner of tender is determined by the seller with participation of independent consultants by carrying out step-by-step negotiations;
8) minimum price – the price below which subject to privatization cannot be sold;
10) subject to privatization – the company as property complex; production and non-productive divisions and structural units of the company as property complex which privatization does not break the closed production cycle; property of the state legal entities; shares of joint-stock companies; shares in the authorized capital of limited liability partnerships; the derivative securities certifying the share rights of joint-stock companies belonging to the state;
11) market value of subject to privatization – settlement sum of money on which subject to privatization can be aloof based on the transaction in the conditions of the competition when the parties of the transaction are effective, having all available information on assessment object, it is prudent also without coercion;
12) the winner – the participant of auction, the tender and the closed tender who offered top price for subject to privatization; the participant of the second stage of tender by two-stage procedures who offered the best terms;
13) the guarantee fee – the sum of money in the amount of 15% of starting price of subject to privatization granted by the physical or non-state legal entity for participation in the biddings, but no more than 30000-fold monthly settlement indicator;
14) the participant – the physical or non-state legal entity registered in accordance with the established procedure for participation in auction, the tender, the closed tender or tender by two-stage procedures;
15) the commission on questions of privatization of objects of state-owned property (further – the commission) – 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 the Law;
16) selling price - the final price of subject to privatization established as a result of the biddings and also the tender for transfer to trust management or property employment (lease) with the right of the subsequent redemption taking into account indexation;
17) the seller (person making property acquisition) - authorized body on state-owned property, local executive body or the office of the akim of the city of district value, the village, settlement, rural district;
18) the buyer (acquirer) – the physical person or the non-state legal entity acquiring property in the course of alienation of state-owned property;
19) the biddings – privatization type;
20) method of the biddings on advance in price – method in case of which the starting price increases with in advance announced step;
21) method of the biddings on reduction in price – method in case of which the starting price goes down with the announced step;
22) independent consultants – legal entities, including the foreign or their associations, participants of estimative and (or) investing activities, and (or) financial consultation involved as the seller for the purpose of evaluating market value of subject to privatization and (or) support of the transaction on subjects to privatization;
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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