JOINT ORDER OF THE MINISTER OF INVESTMENTS AND DEVELOPMENT OF THE REPUBLIC OF KAZAKHSTAN AND MINISTER OF ENERGY OF THE REPUBLIC OF KAZAKHSTAN

of March 31, 2015 No. 397, on March 31, 2015 No. 257

About approval of Rules of representation by the national company of state interests in the contracts providing equity in them the national company

According to the subitem 2) of Item 1 of article 31 of the Law of the Republic of Kazakhstan of June 24, 2010 "About subsoil and subsurface use" we ORDER:

1. Approve the enclosed Rules of representation by the national company of state interests in the contracts providing equity in them the national company.

2. To provide to department of subsurface use of the Ministry for Investments and Development of the Republic of Kazakhstan:

1) in the procedure established by the legislation state registration of this order in the Ministry of Justice of the Republic of Kazakhstan;

2) within ten calendar days after state registration of this order in the Ministry of Justice of the Republic of Kazakhstan, the direction it the copy on official publication

in periodic printing editions and information system of law of Ad_let;

3) placement of this order on Internet resource of the Ministry for Investments and Development of the Republic of Kazakhstan and on the intranet portal of state bodies;

4) within ten working days after state registration of this order in the Ministry of Justice of the Republic of Kazakhstan submission to Legal department of the Ministry for Investments and Development of the Republic of Kazakhstan of data on execution of the actions provided by subitems 1), 2) and 3) of Item 2 of this order.

3. To impose control of execution of this order on the supervising vice-ministers of investments and development and power industry of the Republic of Kazakhstan.

4. This order becomes effective after ten calendar days from the date of the first official publication.

No. 397, No. 257 are approved on March 31, 2015 by the Joint Order of the Minister of investments and development of the Republic of Kazakhstan and the Minister of Energy of the Republic of Kazakhstan of March 31, 2015

Rules of representation by the national company of state interests in the contracts providing equity in them the national company

1. General provisions

1. These rules of representation by the national company of state interests in the contracts providing equity in them the national company (further - Rules) are developed according to the Law of the Republic of Kazakhstan of June 24, 2010 "About subsoil and subsurface use" (further - the Law) and determine procedure for representation by the national company of state interests in the contracts providing equity in them the national company.

Representation of state interests by the national company in contracts is performed according to the procedure of realization of single state policy in the field of subsurface use by means of equity.

2. In these rules the following concepts are used:

1) obligatory share in the contract - the share of the national company expressed as a percentage in the contract;

2) the operator - the legal entity created or determined by subsoil users according to the legislation of the Republic of Kazakhstan by the written notice of competent authority, exercising operational management of activities and the accounting and reporting transactions connected with execution of the contract for which actions subsoil users bear property responsibility;

3) the contract - the contract between competent authority or authorized body on studying and use of subsoil or local executive body of area, city of republican value, the capital according to the competence established by the legislation of the Republic of Kazakhstan, and the physical and (or) legal entity on carrying out investigation, production, the combined exploration and production of minerals or construction and (or) operation of the underground constructions which are not connected with investigation and (or) production or on the state geological studying of subsoil;

4) competent authority - the central executive body enabling the realization on behalf of the Republic of Kazakhstan of the rights connected with the conclusion and execution of contracts for investigation, production, the combined exploration and production, except for contracts for investigation, production of popular minerals, determined by the Government of the Republic of Kazakhstan if other is not established by the laws of the Republic of Kazakhstan and acts of the President of the Republic of Kazakhstan.

2. Procedure for representation of state interests in contracts

3. Representation of state interests is implemented by means of implementation of the rights of equity in contracts, within the powers fixed in them.

4. The national company exercises control of shares in contracts through the bodies provided by contracts, cooperation agreements and constituent documents of operators (in case of creation of consortia) and/or constituent documents of the organizations with joint participation in the authorized capital.

5. In case of contract performance the national company can conclude with other owners of the right of subsurface use any kinds of agreements which can be required for realization of the transactions on subsurface use provided by the contract, and provisions of such agreements shall not contradict Contract provisions.

6. Representation of state interests in contracts is performed according to the laws, decrees and/or orders of the President of the Republic of Kazakhstan, decisions and/or orders of the Government of the Republic of Kazakhstan, competent authority and other state bodies within their competence, and also decisions of advisory advisory bodies under the Government of the Republic of Kazakhstan on development of oil and gas, energy and mining industries.

The competent authority concludes with the national company the Memorandum of the basic principles of realization of single state policy in contracts with obligatory equity taking into account possibility of change of the main directions of state policy in the field of subsurface use.

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