LAW OF THE REPUBLIC OF KAZAKHSTAN

of April 7, 2016 No. 486-V ZRK

About equity in house construction

This Law governs the public relations connected with activities for equity in house construction of apartment apartment houses or complexes of individual apartment houses due to fund raising of shareholders and also establishes guarantees of protection of the rights and legitimate interests of agreement parties about equity in house construction.

Chapter 1. General provisions

Article 1. The basic concepts used in this Law

In this Law the following basic concepts are used:

1) complex of individual apartment houses - the separate buildings in number of at least fifty intended for personal (family) accommodation no more than three floors high taking into account penthouse and the first floor which construction is provided by the design estimates;

1-1) guarantees - the obligation of the Single operator of house construction on the organization of completion of construction of the apartment apartment house and (or) complex of individual apartment houses in case of approach of warranty case and transfer of share in the apartment apartment house and (or) complex of individual apartment houses to shareholders under agreements on equity in house construction;

2) warranty case - the event or set of events determined by this Law with which approach at the Single operator of house construction arise the obligation on completion of construction of the apartment apartment house and (or) complex of individual apartment houses and responsibility to shareholders under the agreement on provision of a guarantee for equity in house construction;

3) the guarantee fee - the amount of money paid by the authorized company to the Single operator of house construction under the agreement on provision of a guarantee for equity in house construction;

4) warranty period - the useful life of construction objects of the apartment apartment house and (or) complex of individual apartment houses established according to the Civil code of the Republic of Kazakhstan and the legislation of the Republic of Kazakhstan on architectural, town-planning and construction activities throughout which the builder, the authorized company and the contractor (prime contractor) guarantee preserving quality of indicators of the apartment apartment house and (or) complex of individual apartment houses built and put into operation according to the design estimates and the agreement on equity in house construction;

5) the condition suspensive - condition or set of conditions with which approach the parties have rights and obligations according to the trust management agreement of voting shares (shares in the authorized capital) the authorized company in case of approach of warranty case;

6) No. 204-VIII ZRK is excluded according to the Law of the Republic of Kazakhstan of 30.06.2025;

7) the project cost of the apartment apartment house or complex of individual apartment houses (further - project cost) - the cost of building and construction works, costs for project management, author's and technical supervisions, remuneration on loans and other expenses provided by this Law;

8) framework of the apartment apartment house - the bearing system (skeleton) perceiving loadings and impacts providing durability, the rigidity and stability of the apartment apartment house having load-carrying structures, designs of overlappings and covering;

8-1) borrowed funds - the means received in the form of debt obligation including on the terms of the paid nature, urgency and recoverability;

9) it is excluded;

10) equity in house construction - the relations of the parties based on the agreement on equity in house construction;

11) the agreement on provision of a guarantee for equity in house construction (further - the agreement on provision of a guarantee) - the agreement signed between the Single operator, the builder and the authorized company according to the procedure and on the conditions determined by this Law;

12) participants of equity in house construction - the builder, the authorized company, the contractor (prime contractor), bank of the second level, engineering company, the Single operator and the shareholder;

13) engineering company in the field of equity in house construction (further - engineering company) - the legal entity performing engineering services in the field of architecture, town planning and construction, accredited in the procedure established by the legislation of the Republic of Kazakhstan and conforming to requirements of this Law;

14) engineering services in the field of equity in house construction - complex of engineering services in the field of architectural, town-planning and construction activities, including for monitoring of the course of construction of the apartment apartment house or complex of individual apartment houses and to control of target use of the money directed to construction of the apartment apartment house or complex of individual apartment houses;

15) the builder in the field of equity in house construction (further - the builder) - the legal entity performing activities for the organization of equity in house construction of apartment apartment houses and (or) complex of individual apartment houses by own and (or) attracted money by means of participation in the authorized capital of the authorized company;

16) authorized body in the field of equity in house construction (further - authorized body) - the central executive body performing management and also within the competence cross-industry coordination in the field of equity in house construction;

17) the agreement on equity - the agreement signed between the authorized company and the shareholder, regulating the legal relationship of the parties connected with equity in house construction in case of which one party shall provide construction of the apartment apartment house or complex of individual apartment houses and to transfer in house construction upon completion of construction to the second party share in the apartment apartment house or complex of individual apartment houses, and the second - to make payment and to accept share in the apartment apartment house or complex of individual apartment houses;

17-1) The single operator of house construction (further - the Single operator) - the mortgage organization with direct or indirect participation of the state in the authorized capital which purpose is participation in realization of state policy in the field of ensuring availability of housing to the population of the Republic of Kazakhstan via mechanisms of mortgage lending and provision of rent housing, development of shared-equity house construction, and also ensuring availability of financial resources to building sector;

18) the authorized company - the legal entity, hundred percent of voting shares (shares in the authorized capital) which belong to the builder, performing activities for ensuring shared-equity construction of the apartment apartment house or complex of individual apartment houses and realization of shares in the apartment apartment house or complex of individual apartment houses which has no right to be engaged in any other business activity, except for activities in special economic zones;

18-1) authorized organization - the legal entity, hundred percent of voting shares (shares in the authorized capital) which directly or indirectly belong to the state, performing activities for ensuring completion of problem objects of house construction in the capital, the cities of republican value or other administrative and territorial units within state programs of house construction;

18-2) share - the apartment or the non-residential premise in the apartment apartment house, or the individual apartment house with the parcel of land in complex of individual apartment houses transferred to the shareholder according to the agreement on equity in house construction, which are part of the built apartment apartment house or complex of individual apartment houses;

19) the shareholder - physical person (except for temporarily staying foreigners), the legal entity or person performing activities according to cooperation agreement (particular partnership, consortium) which signed the agreement on equity in house construction for the purpose of receipt of share in the apartment apartment house or complex of individual apartment houses;

20) No. 204-VIII ZRK is excluded according to the Law of the Republic of Kazakhstan of 30.06.2025.

Article 2. The legislation of the Republic of Kazakhstan on equity in house construction

1. The legislation of the Republic of Kazakhstan on equity in house construction is based on the Constitution of the Republic of Kazakhstan and consists of the Civil code of the Republic of Kazakhstan, this Law and other regulatory legal acts of the Republic of Kazakhstan.

2. The legislation of the Republic of Kazakhstan on the housing relations and on architectural, town-planning and construction activities extends to the equity relations in house construction in the part which is not settled by this Law.

3. If the international treaty ratified by the Republic of Kazakhstan establishes other rules, than those which contain in this Law then are applied rules of the international treaty.

Article 3. Coverage of this Law

1. This Law extends to the relations in case of which one party shall provide construction of the apartment apartment house or complex of individual apartment houses and (or) to transfer upon completion of construction to the second side of the apartment or non-residential premises in the apartment apartment house share in the apartment apartment house or complex of individual apartment houses, and the second - to make payment and to accept apartments or non-residential premises in the apartment apartment house share in the apartment apartment house or complex of individual apartment houses.

Provisions of this Law also extend to the relations arising when borrowing by local executive bodies of areas, cities of republican value, the capital according to the Budget code of the Republic of Kazakhstan.

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