Article 1. The basic concepts used in this Law of the Law on the National Welfare Fund

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The following basic concepts are used in this Law:

1) indirect ownership - ownership by each subsequent organization of the Fund of shares (shares of participation in the authorized capital) of another organization on the right of ownership or trust management;

2) companies - national development institutions, national companies and other legal entities, more than fifty percent of the voting shares (participation interests) of which belong to the Fund by right of ownership or trust management;

3) The Fund's Development Plan is a document defining and justifying the Fund's mission, vision, goals and objectives for managing companies aimed at increasing the long-term value of organizations within the Fund's group, and effectively managing assets within the Fund's group.;

4) Fund group - a Fund, companies, and their subsidiaries, more than fifty percent of the voting shares (participation interests) of which belong to companies, as well as legal entities, more than fifty percent of the voting shares (participation interests) of which belong to said subsidiaries of companies, in respect of which this Law establishes a special legal provision.

The Foundation's group does not include:

legal entities whose shares (participation interests) became the property of a bank belonging to the Fund's group when bidding for the sale of pledged shares (participation interests) failed in accordance with the civil legislation of the Republic of Kazakhstan;

banks whose shares were acquired by the Fund by decision of the Government of the Republic of Kazakhstan in accordance with the legislation of the Republic of Kazakhstan in order to protect the interests of the bank's creditors and ensure the stability of the banking system of the Republic of Kazakhstan;

5) The National Welfare Fund (hereinafter referred to as the Fund) is a national managing holding company.

The Law of the Republic of Kazakhstan dated February 1, 2012 No. 550-IV.

This Law defines the legal status, operating procedure, goals, objectives and powers of the National Welfare Fund, the procedure for interaction between the National Welfare Fund and government agencies, as well as certain features of the legal status of legal entities whose shares (participation interests) belong to the National Welfare Fund and other organizations belonging to the National Welfare Fund group.

President

Republic of Kazakhstan

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