Article 12. The legal regime of the public-private partnership facility and other property necessary for the implementation of the public-private partnership project The Law on Public-Private Partnership

Home / RLA / Article 12. The legal regime of the public-private partnership facility and other property necessary for the implementation of the public-private partnership project The Law on Public-Private Partnership

Article 12. The legal regime of the public-private partnership facility and other property necessary for the implementation of the public-private partnership project The Law on Public-Private Partnership

1. The use by the parties to the public-private partnership agreement of the public-private partnership facility and (or) other property necessary for the implementation of the public-private partnership project is carried out in accordance with the legislation of the Republic of Kazakhstan and the public-private partnership agreement, unless otherwise provided by this Law.

2. A party to a public-private partnership agreement has the right to transfer, with the consent of the other party, in accordance with the procedure established by the legislation of the Republic of Kazakhstan and (or) a public-private partnership agreement, an object of public-private partnership and (or) other property necessary for the implementation of a public-private partnership project to third parties, provided that third parties comply with the obligations of the transferring party under a public-private partnership agreement. At the same time, the transferring party to the public-private partnership agreement is legally responsible for the actions of third parties.

3. In cases where the object of a public-private partnership and (or) other property necessary for the implementation of a public-private partnership project, transferred by a public partner to a private partner under a public-private partnership agreement, are subject to transfer to the balance sheet of the private partner, they are separated from the property of the private partner and are reflected in a separate accounting carried out in connection with fulfillment of obligations under the public-private partnership agreement.

Accounting and preparation of financial statements under a public-private partnership agreement are carried out in accordance with the budget legislation of the Republic of Kazakhstan and the legislation of the Republic of Kazakhstan on accounting and financial reporting.

4. If the object of the public-private partnership is compensated for investment costs, then the object of the public-private partnership is subject to transfer to state ownership. At the same time, the transfer of such an object of public-private partnership as collateral is not allowed.

The Law of the Republic of Kazakhstan dated October 31, 2015 No. 379-V SAM.

This Law defines the legal conditions of a public-private partnership, its methods of implementation and regulates public relations arising in the process of preparing and implementing a public-private partnership project, concluding, executing and terminating a public-private partnership agreement.

President

Republic of Kazakhstan

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