Article 126. The object and objectives of the activity of a state-owned legal entity The Law on State Property

Home / RLA / Article 126. The object and objectives of the activity of a state-owned legal entity The Law on State Property

1. The subject matter and objectives of the activity of a state institution are determined by the authorized body of the relevant branch or local executive body or, in coordination with the meeting of the local community, by the office of the akim of a city of regional significance, village, settlement, rural district and are fixed in the charter (regulations) of the state institution.

The subject and objectives of the activities of a republican state–owned enterprise, as well as the type of state-owned enterprise (on the right of economic management or a state-owned enterprise) engaged in such activities, shall be determined in accordance with the requirements of Article 134 of this Law by the authorized body for state property on the recommendation of the authorized body of the relevant industry, and the municipal state enterprise - by the local executive body or in agreement with a meeting of the local community – the office of the akim of a city of regional significance, village, settlement, rural district.

2. It is not allowed to transfer state control and supervisory functions to state legal entities (other than state bodies).

3. A state-owned legal entity may not create or act as a founder (participant) of another legal entity, unless otherwise provided for in paragraph 3 of Article 135 of this Law and the laws of the Republic of Kazakhstan.

4. It is prohibited for state-owned legal entities to carry out activities, as well as to make transactions that do not meet the subject matter and objectives of their activities set out in the charter (regulations).

4-1. A state-owned legal entity has the right to conclude transactions within the framework of a general financial agreement, if this corresponds to the subject matter and objectives of its activities established in the charter (regulations) of the state legal entity.

The parties to the general financial agreement shall set off (apply) claims and (or) liquidation netting for the transaction(s) under the general financial agreement in accordance with the procedure and on the terms defined in the general financial agreement.

A net claim that has arisen (calculated) as a result of offsetting claims and (or) liquidation netting carried out (applied) in accordance with the procedure and conditions defined in the general financial agreement is satisfied on a general basis in accordance with the rules for settlements with creditors established by this Law and the civil legislation of the Republic of Kazakhstan.

5. A transaction made by a state-owned legal entity in contradiction with the objectives of its activities, which are clearly limited by the laws of the Republic of Kazakhstan or the constituent documents, or in violation of the statutory competence of its head, may be invalidated by a lawsuit.:

authorized body of the relevant industry;

authorized body for state property;

local executive body;

office of the akim of a city of regional significance, village, settlement, rural district;

the prosecutor.

The actions of the head of a state-owned legal entity aimed at carrying out non-statutory activities by a legal entity are a violation of labor obligations and entail the application of disciplinary and financial liability measures.

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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