Article 1. The basic concepts used in this Law are the Law on the Return of Illegally Acquired Assets to the State.

Home / RLA / Article 1. The basic concepts used in this Law are the Law on the Return of Illegally Acquired Assets to the State.

For the purposes of this Law, the following basic concepts are used:

1) a bona fide acquirer is a person who is not affiliated with the persons specified in Article 2 of this Law, who acquired property for a fee and on market terms and at the same time did not know and should not have known that the property belongs to illegally acquired assets.;

2) a bona fide creditor is a person who is not affiliated with the persons specified in Article 2 of this Law, who has property rights to claims arising from transactions with these persons secured by their property, including lenders, as well as tenants;

3) assets – property goods and rights (property) located in the Republic of Kazakhstan and abroad, including any property goods and rights (property) extracted (extracted) from such property;

4) authorized body for asset recovery – the office of the Prosecutor's Office of the Republic of Kazakhstan for asset recovery;

5) Asset conversion – any form of material, financial or legal modification and (or) transformation of an asset, its form or type, partial or complete attachment of an asset to another asset, regardless of the method of such modification and (or) transformation or attachment, including the conversion of currency, currency valuables, securities or other financial instruments from one type to another other, the conversion of securities or other financial instruments into equity interests, the conversion of other assets into other types of assets, the exchange of an asset for another asset, the sale of an asset in exchange for the payment of a sum of money or other counter-provision and other similar actions;

6) control over an asset (hereinafter referred to as control) is the ability to directly or indirectly manage an asset in any way and (or) the ability to determine the legal fate of an asset in any way, including indirectly and on any basis through one or more persons and organizations during the period when the assets were or were allegedly owned or used., owned and (or) controlled by a person (group of persons);

7) nominal owner of an asset – a person exercising the rights of the owner (owner, user) of an asset in the interests and (or) on behalf of another person;

8) administrative and governmental resources (connections, influence) – the ability of a person to influence the adoption of regulatory legal acts of the Republic of Kazakhstan or decisions (acts, actions, inaction) of state bodies of the Republic of Kazakhstan, as well as decisions of state enterprises and institutions, quasi-public sector entities, and other organizations with direct or indirect state participation in the authorized capital in order to create favorable non-competitive business conditions. the entity and (or) its affiliated persons;

9) social projects – projects in the field of healthcare, education, support for socially vulnerable segments of the population, persons with disabilities, orphans, children left without parental care, rural youth, the unemployed, communal and socio-cultural infrastructure facilities for the needs of residents of single-industry towns, rural settlements and other projects determined by the Government of the Republic Kazakhstan;

10) illegally acquired assets – assets that are subject to return to the state in connection with their recognition by a court on the grounds provided for by this Law as assets of unexplained origin.;

11) assets of unexplained origin – assets of a subject and (or) its affiliated persons, the value of which has not been proven to the court in accordance with the procedure established by the legislation of the Republic of Kazakhstan to the amount of legitimate income or other legitimate sources of covering expenses for the acquisition of such assets of the relevant person.;

12) persons having kinship relations – parents (parent), children and their spouses, adoptive parents and their spouses, adopted children and their spouses, full- and half-siblings and their spouses, grandfather, grandmother, grandchildren, great-grandchildren and their spouses, great-grandfather, great-grandmother;

13) excess income – income received as a result of the use (with the use of) administrative and governmental resources (connections, influence), the conditions of receipt and the amount (amount) of which is established in accordance with this Law.

This Law, in the interests of current and future generations of Kazakhstanis, regulates public relations to identify and return illegally acquired assets to the state (hereinafter referred to as asset recovery) in order to restore the violated rights of the people of Kazakhstan, ensure the rule of law, social justice, and sustainable economic and social development of Kazakhstan for the benefit of its people.

President

Republic of Kazakhstan

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