ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of December 2, 2014 No. 1266

About determination of 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 and modification and amendments in some decisions of the Government of the Republic of Kazakhstan

According to Item 15-2) of article 11 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. Determine:

1) 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 according to appendix 1 to this resolution;

2) the mechanism of carrying out monitoring of 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 according to appendix 2 to this resolution.

2. Bring the following changes and amendments in some decisions of the Government of the Republic of Kazakhstan:

1) in the order of the Government of the Republic of Kazakhstan of February 10, 2003 No. 145 "About determination of the mechanism of carrying out monitoring of administrative expenses of the state companies, joint-stock companies which controlling stocks the state, and limited liability partnerships, the sizes of the state shares in which allow the state to determine decisions of general meeting of participants, for the purpose of their optimization" (SAPP of the Republic of Kazakhstan, 2003, No. 7, of the Art. 73), owns:

state preamble in the following edition:

"According to the subitem 9) of article 9 of the Constitutional law of the Republic of Kazakhstan of December 18, 1995 "About the Government of the Republic of Kazakhstan" the Government of the Republic of Kazakhstan DECIDES:";

the paragraph one of the subitem 3) of Item 1 to state in the following edition:

"3) by consideration and approval of development plans for joint-stock companies which controlling stocks the state owns, limited liability partnerships, the sizes of the state shares in which allow the state to determine decisions of general meeting of participants, and development plans for the state companies, except for national managing holdings, national holdings and the national companies which controlling stocks the state owns, and also the national companies which are part of national managing holdings, national holdings, to set limits of some expenses in compliance:";

state Item 1-2 in the following edition:

"1-2. Recommend to national managing holdings, except for National Welfare Fund Samruk-Kazyna, to National Holdings and the National Companies Which Controlling Stocks the State Owns to Take the Similar Measures Specified in Item 1 of This Resolution concerning Legal Entities Whose More than Fifty Percent of Voting Shares (Shares) Belong to Them on the Property Right or Trust Management, Except for the National Companies Which Are Part of National Managing Holdings, National Holdings joint-stock company;

exclude Item 1-3;

2) ceased to be valid according to the Order of the Government of the Republic of Kazakhstan of 31.12.2015 No. 1183

3. Recommend to national managing holdings, except for joint-stock company "National welfare fund "Samruk-Kazyna", to national holdings and the national companies which controlling stocks the state owns and also to the national companies which are part of national managing holdings (except for the national companies which are part of group of joint-stock company "National welfare fund "Samruk-Kazyna"), national holdings till the end of 2014 to take measures for reduction of the internal documents regulating determination of limits of administrative expenses in compliance with limits of separate types of the administrative expenses approved according to this resolution.

4. Recommend to national managing holdings, except for joint-stock company "National welfare fund "Samruk-Kazyna", to national holdings and the national companies which controlling stocks the state owns and also to the national companies which are part of national managing holdings (except for the national companies which are part of group of joint-stock company "National welfare fund "Samruk-Kazyna"), national holdings to provide obligatory coordination with the single shareholder of abroad travels of the first heads of the companies and their deputies.

5. This resolution becomes effective from the date of its first official publication.

Appendix 1

to the Order of the Government of the Republic of Kazakhstan of December 2, 2014 No. 1266

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

1. General provisions

1. 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 are developed according to Item 15-2) of article 11 of the Law of the Republic of Kazakhstan of March 1, 2011 "About state-owned property".

2. The basic concepts used in these limits:

1) remuneration following the results of work in year to board members - the remuneration intended for stimulation of efficiency of work of board members, paid depending on results of achievement of strategic key indicators of activities and results of assessment of activities for the solution of the Board of directors;

2) the foreign worker is the immigrant who arrived or attracted by the employer to implementation of labor activity in the territory of the Republic of Kazakhstan;

3) the company - national managing holdings (except for National welfare fund), national holdings, 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;

4) key indicator of activities (further - efficiency) - the key indicators of activities characterizing efficiency of activities of the company and extent of goal achievement;

5) individual efficiency - short-term (following the results of quarter) and long-term (following the results of year) efficiency which are established differentially for the employees of the company who are not belonging to board members and determine bonus level for personal effectiveness;

6) strategic efficiency - Efficiency which are included in system of remuneration of board members for stimulation of the worker on achievement of the priority purposes following the results of year and determine amount of remuneration for results of activities;

7) board members - the chairman of the board and vice chairmen of the board, the managing director - the board member.

3. Limits of separate types of administrative expenses are set on the following types of administrative expenses of the company:

1) expenses on rendering social support to employees of the company;

2) expenses on awarding of the employees of the company who are not belonging to board members and for remuneration following the results of work in year to board members;

3) expenses on surcharge for combination of positions and accomplishment of obligations of temporarily absent worker;

4) expenses on standard rates of polozhennost of official cars for transport servicing of the company;

5) expenses on regulations of the areas for placement of the office of the company;

6) expenses on polozhennost regulations for use of telephone communication;

7) expenses on regulations of compensation of office traveling expenses of employees of the company;

8) expenses on regulations of entertainment expenses of the company.

4. These limits do not extend to the foreign workers involved in the procedure established by the legislation in the company. Payment terms of work of foreign specialists - leading employees are determined by the solution of the Board of directors of the company.

2. Determination of limits of administrative expenses on rendering social support to employees of the company

5. Determine limits of expenses on the following types of rendering social support to employees of the company:

1) financial support;

2) medical insurance (sickness insurance).

6. Financial support is paid to workers by company funds in accordance with the established procedure in the following cases:

1) for improvement by provision of paid annual labor leave - in the amount of no more than 2 (two) official pay rates;

2) in connection with the birth child/adoption or adoption of children - in the amount of no more than 100 minimum settlement indicators (further - MRP) established by the legislation of the Republic of Kazakhstan on the republican budget for the corresponding financial year with lump sum payment to the worker. If both parents are employees of the company, one-time financial support is paid to one of parents at their choice;

3) in connection with death:

the worker - in the amount of no more than 400 MRP with lump sum payment to one of family members or, in the absence of those, to person who undertook the organization of funeral;

spouses/children, the worker's parents - in the amount of no more than 300 MRP;

4) in connection with marriage - in the amount of no more than 50 MRP;

5) in connection with treatment/transaction of the worker or persons which are members of his family according to the list of severe forms of some chronic diseases approved by the order of the Government of the Republic of Kazakhstan of November 8, 2011 No. 1309 and the list of diseases for which longer term of disability, by the approved authorized state body in the field of health care if costs for treatment/transaction exceed the limit set by the program of medical insurance of the company (the basis is established: the statement from the clinical record, the conclusion of the attending physician, documents confirming expenses), - in the amount of no more than 100 MRP.

7. Expenses on medical insurance on one worker shall not exceed in year 100 MRP.

3. Determination of limits of administrative expenses on awarding and surcharge of employees of the company

8. Determine limits of expenses on the following types of awarding of employees of the company:

1) award for the employees of the company who are not belonging to board members following the results of the accounting period (quarter, year);

2) remuneration following the results of work in year to board members;

3) award by public holiday for all workers;

4) award for all workers for development and deployment of the actions directed to economy of costs, increase in profitability, and also introduction of innovative solutions and improvement suggestions.

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