Article 103. Competition through two-stage procedures of the Law on State Property

Home / RLA / Article 103. Competition through two-stage procedures of the Law on State Property

1. The tender is conducted through two-stage procedures with the participation of an independent consultant by decision of the Government of the Republic of Kazakhstan, which determines the priority of the price and (or) other conditions of privatization.

2. The competition includes the following action plan:

1) engaging an independent consultant in accordance with the procedure established by Article 100-1 of this Law to conduct a comprehensive analysis of the privatisation facility, assess its value and create an information database about the sale facility for potential buyers (investors).;

2) publication by the seller of a notice on the sale of the privatisation object in Kazakh and Russian on the web portal of the register of state property, as well as distribution by an independent consultant of a sale proposal to potential buyers (investors);

3) the formation by an independent consultant of a list of applications containing proposals from potential buyers (investors);

4) the seller, with the participation of an independent consultant, conducts negotiations with potential buyers (investors) on the list of applications in order to identify at least two potential buyers (investors) who submitted the best proposals during the negotiations (the first stage of the competition);

5) the seller, with the participation of an independent consultant, conducts negotiations with the winners of the first stage of the competition to improve the previously proposed conditions (the second stage of the competition).

3. Following the results of each stage of negotiations, the seller, the independent consultant and all participants of the competition sign a protocol on its results.

4. The winner of the competition is the potential buyer (investor) who offered the highest price and/or the best conditions during the second stage of the competition.

5. In case of refusal or evasion of the winner of the tender from signing the purchase and sale agreement within the time limits set by the seller, the purchase and sale agreement is signed with the potential buyer (investor), whose offer is recognized as the best after the offer of the winner of the tender.

6. The competition is declared invalid if:

1) less than two applications have been registered to participate in the first stage of the competition;

2) less than two potential buyers (investors) were admitted to the second stage of the competition;

3) the winner of the competition has not signed the purchase and sale agreement within the time limits set by the seller.

In the cases provided for in this paragraph, the seller and an independent consultant shall sign an act on the failed tender, and the privatisation object shall be put up for tender again.

7. Each subsequent contest is held no later than sixty calendar days from the date of the previous contest.

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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