Article 12-2. Features of budget crediting of the National NPP Operator of the Law on the Use of Atomic Energy
1. Budget lending to the National Operator of the NPP in the form of a budget credit line is carried out on the principles of payment, urgency and repayment in accordance with the budget legislation of the Republic of Kazakhstan, taking into account the following features:
1) budget lending in the form of a budget credit line for financing NPP projects, carried out on the basis of international treaties ratified by the Republic of Kazakhstan, is a process that includes a decision-making procedure on the provision, use, maintenance and repayment of a budget loan;
2) the budget credit line is a tranche allocation of funds (in installments) during the implementation period of the NPP projects;
3) the budget credit line is provided in the following forms:
monetary – is allocated from the funds of the republican budget with the transfer of funds to the cash control account of the National Operator of the NPP;
letter of credit – with the fulfillment of payment obligations within the framework of the use of credit funds, the source of which is export credit funds, on behalf of the National Operator of the NPP, agreed by the authorized body, the state Treasury due to the increase in debt on the budget credit line;
mixed – part of the borrowed funds is transferred to the cash control account of the National Operator of the NPP, and the rest is executed by the state Treasury through the execution of a letter of credit due to an increase in debt on the budget credit line.;
4) the budget credit line is provided taking into account the specifics established by this article, allowing for the non-application of the following separate requirements of the budget legislation of the Republic of Kazakhstan:
availability of collateral for the fulfillment of the borrower's obligations under the budget credit line;
determining the appropriateness of budget lending;
confirmation of the borrower's creditworthiness under the budget credit line;
development of an investment proposal, feasibility study and financial and economic justification;
5) the inclusion of the project in the portfolio of state investment projects is carried out on the basis of international treaties ratified by the Republic of Kazakhstan.
The Law of the Republic of Kazakhstan dated January 12, 2016 No. 442-V SAM.
This Law defines the legal basis and principles for regulating public relations in the field of the use of atomic energy in order to protect human life and health, their property, and environmental protection, and is aimed at ensuring the regime of non-proliferation of nuclear weapons, nuclear, radiation, and nuclear physical safety in the use of atomic energy.
President
Republic of Kazakhstan
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