Article 114. Transfer of property as a property contribution to the authorized capital of limited liability companies, either to pay for the purchase of shares of joint-stock companies, or to the authorized capital (payment for shares) of legal entities registered in accordance with the applicable law of the Astana International Financial Center Law on State Property

Home / Laws / Article 114. Transfer of property as a property contribution to the authorized capital of limited liability companies, either to pay for the purchase of shares of joint-stock companies, or to the authorized capital (payment for shares) of legal entities registered in accordance with the applicable law of the Astana International Financial Center Law on State Property

Article 114. Transfer of property as a property contribution to the authorized capital of limited liability companies, either to pay for the purchase of shares of joint-stock companies, or to the authorized capital (payment for shares) of legal entities registered in accordance with the applicable law of the Astana International Financial Center Law on State Property

1. The decision to transfer shares of joint-stock companies and shares in limited liability companies in respect of which the Republic of Kazakhstan is a shareholder (participant), and strategic facilities owned by the Republic, to the authorized capital of a limited liability company or to pay for shares of a joint-stock company is made by the Government of the Republic of Kazakhstan.

The authorized body for state property makes a decision on the transfer of republican state property, with the exception of shares of joint-stock companies and shares in limited liability companies in respect of which the Republic of Kazakhstan is a shareholder (participant), and strategic facilities owned by the Republic, to pay for shares of a joint-stock company or to the authorized capital of a limited liability company..

2. The decision to transfer communal property to the authorized capital of a limited liability partnership or to pay for shares of a joint-stock company is made by the local executive body of the relevant administrative-territorial unit.

3. The transfer of state property related to strategic facilities to the authorized capital of limited liability companies or to pay for shares of joint-stock companies is carried out in compliance with the requirements for transactions with strategic facilities.

4. State property that can only be in state ownership, as well as state property that is not subject to alienation in accordance with acts of the President of the Republic of Kazakhstan or the Government of the Republic of Kazakhstan in agreement with the President of the Republic of Kazakhstan, may not be used as a property contribution to the authorized capital of a limited liability partnership or to pay for shares of a joint-stock company..

Unless otherwise established by part one of this paragraph, state property that is not subject to privatization may be transferred to pay for shares of a national management holding company, a national holding company, or a national company on the terms and in accordance with the procedure established by the Government of the Republic of Kazakhstan, as well as to other legal entities in cases determined by legislative acts of the Republic of Kazakhstan. Also, as a property contribution to the authorized capital of a limited liability company or as payment for shares of a joint-stock company, the right to own and (or) use state property that is not subject to privatization may be transferred according to the rules of paragraph 1 of Article 59 of the Civil Code of the Republic of Kazakhstan and the laws of the Republic of Kazakhstan "On Joint-Stock Companies" and "On Limited Liability Companies and additional responsibility."

5. The provisions of this article shall also apply to the transfer of state property as a property contribution to the authorized capital (payment for shares) of legal entities registered in accordance with the applicable law of the Astana International Financial Center.

The Law of the Republic of Kazakhstan dated March 1, 2011 No. 413-IV.

This Law defines the legal regime of state property, the legal basis for the management of State property, including property assigned to State-owned legal entities, and state-owned shares and stakes in the authorized capital of legal entities, the legal grounds for the acquisition and termination of rights to state property, and is aimed at ensuring the effective exercise by the State of the rights of the owner and holder of other rights. on state property.

President

Republic of Kazakhstan

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