Article 221-5. Obligations to eliminate the consequences of subsurface use in the territory provided on the basis of the auction Code on Subsurface and Subsurface Use Republic of Kazakhstan
1. In the case of issuing a license for exploration or extraction of solid minerals in a subsurface area following an auction, the person who was the holder of the right of subsurface use under the terminated contract is obliged to transfer to the new subsurface user the funds or rights under the liquidation fund and other property formed to eliminate the consequences of subsurface use under the terminated contract, within one month from the date of issue of the relevant license for exploration or extraction of solid minerals.
Obligations to eliminate the consequences of subsurface use operations in the relevant subsurface area shall be transferred in full to the winner of the auction after providing security for the elimination of the consequences of exploration or extraction of solid minerals in accordance with this Code.
If an exploration or production license has not been issued on the basis of an auction, the person who was the holder of the right of subsurface use under the terminated contract or license is obliged to eliminate the consequences of subsurface use operations in accordance with the procedure provided for by this Code.
2. The provisions of subparagraph 6) of paragraph 2 of Article 186 and subparagraph 4) of paragraph 2 of Article 203 of this Code shall not apply when issuing licenses for subsurface use based on the results of an auction in accordance with this article.
President
Republic of Kazakhstan
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