Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of December 31, 2015 No. 1167

About approval of Rules of liquidation of the state-owned Islamic special finance company

According to Item 7-1 of article 32-6 of the Law of the Republic of Kazakhstan of July 2, 2003 "About the security market" the Government of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of liquidation of the state-owned Islamic special finance company.

2. This resolution becomes effective since January 1, 2016 and is subject to official publication.

Prime Minister of the Republic of Kazakhstan

K. Masimov

Approved by the Order of the Government of the Republic of Kazakhstan of December 31, 2015 No. 1167

Rules of liquidation of the state-owned Islamic special finance company

1. These rules of liquidation of the state-owned Islamic special finance company are developed according to Item 7-1 of article 32-6 of the Law of the Republic of Kazakhstan of July 2, 2003 "About the security market" and determine procedure for liquidation of the state-owned Islamic special finance company (further – the company).

2. By a court decision the company can be liquidated in case of bankruptcy, and also in other cases, stipulated by the legislation the Republic of Kazakhstan.

3. The decision on voluntary liquidation of the company is made by the Government of the Republic of Kazakhstan.

At the same time voluntary liquidation of the company can be performed after approval of the report on results of repayment of release of the government Islamic securities issued by the company.

4. After decision making about liquidation of the company the authorized body on state-owned property without delay in writing reports about decision making about liquidation of the company to the judicial authority performing registration of legal entities, to body of state revenues in place of registration.

5. The authorized body on management of the corresponding industry (sphere) of public administration to which rights of possession are transferred and uses of the state share in the authorized capital of the company in coordination with authorized body on state-owned property within ten calendar days after decision making about liquidation of the company appoints liquidation commission of the company to which pass powers on property management and cases of the company.

6. The liquidation commission publishes information on liquidation of the company within ten calendar days from the moment of appointment of liquidation commission of the company, and also procedure and term of claiming by her creditors in official printing publications of the Ministry of Justice of the Republic of Kazakhstan. The term of claiming cannot be less than two months from the moment of the publication of the announcement of liquidation, except as specified bankruptcies.

The liquidation commission takes measures to identification of creditors and receipt of debt, and also in writing notifies creditors on liquidation of the company.

7. After the expiration for presentation of claims by creditors the liquidation commission constitutes within thirty calendar days the interim liquidation balance sheet which contains the information about structure of corporate property, the list of the claims declared by creditors, and also results of their consideration.

The interim liquidation balance sheet affirms authorized body on management of the corresponding industry (sphere) of public administration.

8. In case of creation of the interim liquidation balance sheet of property of the liquidated company the property sold to the company based on the decision of the Government of the Republic of Kazakhstan is not included. The specified property is transferred by liquidation commission to the possession of the Republic of Kazakhstan according to the procedure and the terms determined by the Government of the Republic of Kazakhstan.

9. Payment to creditors of the company is made by liquidation commission according to the procedure of the priority established by the Civil code of the Republic of Kazakhstan according to the interim liquidation balance sheet, since day of its approval.

10. If the liquidated company has obligations on the government Islamic securities to their holders, and also before authorized body on management of state-owned property and authorized body on management of the corresponding industry (sphere) of public administration, liquidation is performed taking into account conditions of release of the government Islamic securities.

11. After completion of settlings with creditors the liquidation commission constitutes the liquidation balance sheet according to requirements of the civil legislation.

12. Liquidation of the company is considered complete, and the company stopped the activities after introduction about it the data in the National register of business and identification numbers.

 

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

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.