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Article 11. The authorized capital of the company The Law on Joint Stock Companies
1. The authorized capital of the company is formed by payment of shares by the founders (the sole founder) at their nominal value and by investors at placement prices determined in accordance with the requirements established by this Law and expressed in the national currency of the Republic of Kazakhstan.
The authorized capital of a company created as a result of reorganization is formed in accordance with the requirements established by this Law.
The laws of the Republic of Kazakhstan regulating public relations arising in certain types of activities may establish a different procedure for the formation of the company's authorized capital.
2. The amount of advance payment for shares made by the founders must be at least the minimum amount of the company's authorized capital and fully paid by the founders within thirty days from the date of the company's state registration as a legal entity.
3. The increase in the authorized capital of the company is carried out through the placement of declared shares of the company.
The Law of the Republic of Kazakhstan dated May 13, 2003 No. 415.
This Law defines the legal status, procedure for the establishment, operation, reorganization and liquidation of a joint-stock company; the rights and obligations of shareholders, as well as measures to protect their rights and interests; the competence, procedure for the formation and functioning of the bodies of a joint-stock company; the powers, procedure for the election and responsibility of its officials.
President
Republic of Kazakhstan
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