ORDER OF THE MINISTER OF JUSTICE OF THE REPUBLIC OF KAZAKHSTAN

of March 27, 2014 No. 125

About approval of Rules of tendering on realization of distrained property in the form of electronic auction

According to Item 1 of article 74 of the Law of the Republic of Kazakhstan "About enforcement proceeding and the status of legal executives" and the subitem 3) Item 2 of article 7 of the Law of the Republic of Kazakhstan "About judicial authorities", PRIKAZYVAYU:

1. Approve the enclosed Rules of tendering on realization of distrained property in the form of electronic auction.

2. To provide to committee on execution of court resolutions of the Ministry of Justice of the Republic of Kazakhstan:

1) state registration of this order in the Ministry of Justice of the Republic of Kazakhstan and its subsequent publication in official mass media in the procedure established by the legislation;

2) placement of this order on Internet resource of the Ministry of Justice of the Republic of Kazakhstan.

3. To impose control of execution of this order on the chairman of Committee on execution of court resolutions of the Ministry of Justice of the Republic of Kazakhstan.

4. This order becomes effective after ten calendar days after day of its first official publication.

Approved by the Order of the Minister of Justice of the Republic of Kazakhstan of March 27, 2014 No. 125

Rules of tendering on realization of distrained property in the form of electronic auction

1. Rules of tendering on realization of distrained property in the form of electronic auction (further - Rules) establish procedure for realization of distrained property in the form of electronic auction.

2. In these rules the following concepts are used:

1) the affiliate of the legal entity - any physical person or legal entity, except for the state bodies performing the control and supervising functions within the powers conferred to them having opportunity to determine decisions and (or) to exert impact on the decisions made by this legal entity, including owing to the transaction made in writing;

2) the guarantee fee - the sum of money granted into the control account of cash of territorial authority or on the current account of the private legal executive by persons wishing to participate in auction for sale of distrained property;

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

4) the proper notice - the written notice, under personal list of the debtor or his representative, the registered mail with the notification on its delivery, the telephone message, the telegram, the short text message on subscriber number of cellular communication or on the e-mail address, and also with use of other means of communication providing fixation of the notice or challenge;

5) the organizer - the specialized trade organization performing activities for running an electronic auction with which the territorial authority or the private legal executive signed the contract for its carrying out;

6) the winner - the participant of auction who offered top price for auction subject;

7) the buyer - the person who signed the purchase and sale agreement with the seller and brought the purchase value of property;

8) the seller - the legal executive;

9) subject of auction (bidding) - any real estate of debtors movable by N offered for auction arrested by the legal executive within enforcement proceeding which is subject to state registration and (or) cost of which exceeds one thousand monthly settlement indicators, except the property withdrawn under the law from circulation;

10) lot - complex of objects (or one subject) as single indivisible subject of auction;

11) the purchase value of property - the amount for which according to the protocol of auction the winner showed willingness to acquire property;

12) the starting price - lot cost with which the auction for realization of distrained property begins;

13) territorial authority - Department on execution of court resolutions of area, the cities of Astana, Almaty of Committee on execution of court resolutions of the Ministry of Justice of the Republic of Kazakhstan;

14) authorized body - Committee on execution of court resolutions of the Ministry of Justice of the Republic of Kazakhstan;

15) change in price step - the amount of increase or reduction in price of implementable property.

16) the operator of United electronic market place (operator) - the legal entity who is the legal owner, or the lessee of the information system public placed on the Internet with which use persons, participate in electronic auctions of distrained property by means of information exchange;

17) identification code (identifier) - set of the electronic digital symbols given by electronic trading platform to participants of electronic auctions for their identification;

18) the participant of electronic auction - the physical person or legal entity which showed willingness to participate in auction, the received decision of the organizer of auction on acceptance and inclusion of the request in the register of participants of electronic auction with assignment of identification code;

19) the electronic document - the document in which information is provided in electronic and digital form and is certified by means of the digital signature;

20) technical failure of electronic trading platform - the technical malfunctions of electronic trading platform excluding possibility of participation in the procedure of electronic auction at least of one participant and/or excluding technical capability to carry out servicing of running an electronic auction to workers of the operator of an electronic trading platform;

21) the digital signature (DS) - set of electronic digital symbols created by means of the digital signature and confirming reliability of the electronic document, its accessory and invariance of content.

3. Preparation for running an electronic auction includes the following questions:

1) determination of the list, the location of the distrained property offered for auction;

2) determination of method of holding the auction;

3) determination of the starting price of each lot;

4) establishment of date and time of running an electronic auction;

5) preparation of the text of the notification in mass media and the list of property on Internet resource of authorized body about the forthcoming auction;

6) the notification of the parties of enforcement proceeding, the pawnbroker (in the presence) about date and time of holding the auction.

4. The notification about the forthcoming electronic auction is published in the Kazakh and Russian languages in the periodic printing editions distributed in all territory of the Republic of Kazakhstan, having the right to publish official reports, not later than ten calendar days before holding the auction.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info