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LAW OF THE REPUBLIC OF KAZAKHSTAN

of April 7, 2016 No. 486-V ZRK

About equity in house construction

(In edition of the Law of the Republic of Kazakhstan of 02.04.2019 No. 241-VI ZRK)

This Law governs the public relations connected with activities for equity in house construction of apartment houses (residential buildings) due to fund raising of physical and (or) legal entities 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) guarantee - the obligation of Fund of guaranteeing house construction for the organization of completion of construction of the apartment house (residential building) in case of approach of warranty case and transfer of share in the apartment house (residential building) 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 Fund of guaranteeing house construction arise the obligation on completion of construction of the apartment house (residential building) 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 Fund of guaranteeing 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 house (residential building) 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 construction object of the apartment house (residential building) 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) share in the apartment house (residential building) - the residential or non-residential premise transferred to the shareholder to the agreement performance about equity in house construction which is part of the built apartment house (residential building);

7) the project cost of the apartment house (residential building) (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 house (residential building) - the bearing system (skeleton) perceiving loadings and impacts providing durability, the rigidity and stability of the apartment house (residential building) having load-carrying structures, designs of overlappings and covering;

9) Fund of guaranteeing house construction (further - Fund of guaranteeing) - the non-profit organization in form of business of joint-stock company with direct or indirect participation of the state in the authorized capital guaranteeing completion of construction and transfer of share in the apartment house (residential building) to shareholders in case of approach of warranty case;

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 Fund of guaranteeing, 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, Fund of guaranteeing and the shareholder;

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