ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of July 8, 2014 No. 777

About approval of Rules of carrying out and determination of the organizer of electronic auction selling property (assets) of the debtor (bankrupt)

According to Item 1 of article 99 of the Law of the Republic of Kazakhstan of March 7, 2014 "About rehabilitation and bankruptcy" the Government of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of running an electronic auction selling property (assets) of the debtor (bankrupt).

2. Determine Information and Accounting Center joint-stock company the organizer of electronic auction selling property (assets) of the debtor (bankrupt).

3. Recognize invalid some decisions of the Government of the Republic of Kazakhstan according to appendix to this resolution.

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

Approved by the Order of the Government of the Republic of Kazakhstan of July 8, 2014 No. 777

Rules of running an electronic auction selling property (assets) of the debtor (bankrupt)

1. These rules of running an electronic auction selling property (assets) of the debtor (bankrupt) (further - Rules) are developed according to the Law of the Republic of Kazakhstan "About rehabilitation and bankruptcy" (further - the Law) and determine procedure for sale of property (assets) for the debtor (bankrupt) in the form of electronic auction.

1. General provisions

2. In these rules the following basic concepts are used:

1) the web portal of the register of state-owned property (further - the web portal of the register) - the Internet resource placed on the Internet to the address: www.gosreestr.kz providing single point of access to the electronic database on sale of property of debtors (further - the database);

2) the guarantee fee - the sum of money granted by physical person or legal entity for participation in electronic auction;

3) lot - subject or several objects which are at the same time sold at electronic auction;

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

5) the seller - the interim, bankrupt or rehabilitation manager;

6) the organizer - the legal entity determined by the order of the Government of the Republic of Kazakhstan and who signed with the seller the agreement on rendering electronic services in running an electronic auction selling property (assets) of the debtor (bankrupt);

7) the winner - the participant of electronic auction who offered top price for lot of auction and the signatory protocol on results of electronic auction;

8) the buyer - the winner of electronic auction who signed the purchase and sale agreement;

9) payment gateway of "the electronic government" (further - PShEP) - the automated information system intended for ensuring interaction between information systems of banks of the second level, the organizations performing separate types of banking activities, and "the electronic government" when implementing payments of physical persons and legal entities;

10) the starting price - lot price on each object which is established by results of determination of estimated value or at book value object;

11) current price - the price for lot developing during the electronic auction;

12) the participant - the physical person or legal entity registered in the procedure established by these rules for participation in electronic auction or the closed electronic auction;

13) authorized body - the state body in the field of rehabilitation and bankruptcy performing state regulation in the field of rehabilitation and bankruptcy (except for banks, the insurance (reinsurance) organizations and the accumulation pension funds);

14) selling price - the final price of lot established as a result of electronic auction;

15) electronic auction - the form of the biddings of electronic auction, including the closed electronic auction which is carried out with use of the web portal of the register in electronic format;

16) the closed electronic auction - electronic auction on realization of the property limited in turnover;

17) the electronic salesroom (further - the salesroom) - the Section of the web portal of the register providing possibility of input, storage and the information processing necessary for running an electronic auction;

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