Article 14. Competence of the authorized body for state property The Law on State Property

Home / RLA / Article 14. Competence of the authorized body for state property The Law on State Property

Authorized body for State Property:

1) develops and approves regulatory legal acts in the field of state property management within its competence;

2) exercises control over the targeted and effective use of republican property;

3) carries out the privatization of republican property, including making a decision on the privatization of republican property, as well as enterprises as a property complex that are not subjects of a natural monopoly or market entities that occupy a dominant or monopolistic position in the market, ensures the safety of republican property in the process of preparing the object for privatization, engages an intermediary to organize the privatization process, ensures evaluation of the privatisation facility, prepares and concludes purchase and sale agreements for the privatisation facility and monitors compliance with the terms of purchase and sale agreements;

4) exercises on behalf of the Republic of Kazakhstan the rights of the subject of the right of republican ownership in relation to republican legal entities;

5) upon presentation by the authorized body of the relevant industry, determines the subject and objectives of the activities of the republican state enterprise, as well as the type of republican state enterprise (on the right of economic management or a state-owned enterprise) engaged in such activities, and approves the charter of republican state enterprises, amendments and additions to it.;

6) carries out, in agreement with the authorized body of the relevant industry, the seizure or redistribution of property transferred to a republican legal entity or acquired by it as a result of its own economic activities;

7) carries out the seizure of excess, unused or misused property of republican legal entities, identified by the results of monitoring the intended use of state property, after six months from the date of control without coordination with the authorized body of the relevant industry;

8) sets a deadline for the republican state enterprise to maintain and ensure the safety of seized property until it is transferred to another person, followed by write-off from the balance sheet;

9) provides republican property for property lease (lease), trust management to individuals and non-governmental legal entities without the right of subsequent redemption or with the right of subsequent transfer to ownership of small businesses on a gratuitous basis;

10) gives consent to the authorized body of the relevant industry to carry out the reorganization and liquidation of the republican legal entity;

11) upon presentation of the authorized body of the relevant industry, gives written consent to the republican state enterprise to alienate or otherwise dispose of the property assigned to it (except for the sale of products produced by it), establish branches (representative offices);

12) represents the interests of the state in matters of republican property, protects property rights belonging to the Republic of Kazakhstan;

13) conducts an analysis of the provision of property for lease (lease) of property assigned to republican legal entities;

14) monitors the timeliness and completeness of the accrual of dividends on shares owned by the Republic of Kazakhstan and their payment, as well as the distribution of net income among the participants of a limited liability partnership, the share of participation in the authorized capital of which belongs to the Republic of Kazakhstan;

15) carries out state monitoring of property in sectors of the economy of strategic importance in accordance with the Law of the Republic of Kazakhstan "On State Monitoring of Property in sectors of the Economy of strategic importance";

16) organizes and monitors the functioning and management effectiveness of republican state-owned enterprises, joint-stock companies and limited liability partnerships with the participation of the Republic of Kazakhstan;

17) monitors the fulfillment by the trustee of obligations under the trust management agreement for the republican property;

18) by decision of the Government of the Republic of Kazakhstan, acts as the founder of joint-stock companies and limited liability partnerships, as well as republican state-owned enterprises;

19) by decision of the Government of the Republic of Kazakhstan, pays for the outstanding shares of joint-stock companies and contributes to the authorized capital of limited liability companies by depositing money in accordance with the Budget Code of the Republic of Kazakhstan, as well as republican property, including shares, shares in the authorized capital;

20) exercises on behalf of the Government of the Republic of Kazakhstan the rights of the state as a shareholder (participant) to participate in the management of a joint-stock company (limited liability company);

21) appoints its representative to the relevant board of directors (supervisory board) of joint-stock companies (limited liability companies) in which the Republic of Kazakhstan is the sole shareholder (participant), and submits it for approval by the general meeting of shareholders or participants of the limited liability company in other joint-stock companies and limited liability companies with the participation of the Republic of Kazakhstan. candidacy to the boards of Directors or supervisory boards;

22) pays compensation for nationalized property in the cases and on the terms established by Chapter 5 of this Law.;

23) develops rules for maintaining the register of state property;

24) maintains the register of state property in accordance with the procedure determined by the Government of the Republic of Kazakhstan and provides information to users of the register of state property;

24-1) maintains a database on the accounting and further use of confiscated property, converted (received) into republican ownership, as well as property (assets) converted (converted) into state revenue in accordance with the Law of the Republic of Kazakhstan "On the Return of Illegally Acquired Assets to the State";

24-2) monitors the effectiveness of the management of property (assets) by the management company in accordance with the Law of the Republic of Kazakhstan "On the Return of illegally Acquired Assets to the State";

25) coordinates and organizes work to ensure unified accounting of state property in the register of state property;

25-1) decides, in agreement with the authorized body of the relevant industry, on the transfer of republican state property, with the exception of shares of joint-stock companies and shares in limited liability partnerships in respect of which the Republic of Kazakhstan is a shareholder (participant), and strategic facilities owned by the Republic, to pay for shares of the joint-stock company or to the authorized capital limited liability partnerships;

26) excluded by the Law of the Republic of Kazakhstan dated 02.01.2021 No. 399-VI (effective ten calendar days after the date of its first official publication);

26-7) holds an open competition for the selection of independent directors (independent members) to the board of directors (supervisory board) of joint-stock companies (limited liability partnerships) with one hundred percent state participation, with the exception of the National Welfare Fund and the unified accumulative pension fund, in accordance with the rules and criteria for the selection of independent directors (independent members) to the Board of Directors (limited liability companies). the Board of Directors (Supervisory Board) of joint-stock companies (limited liability partnerships) with one hundred percent state participation, with the exception of the National Welfare Fund and the unified accumulative pension fund;

26-8) maintains and publishes on its Internet resource a register of independent directors (independent members) of joint-stock companies (limited liability companies) with one hundred percent state participation, with the exception of the National Welfare Fund and the unified accumulative pension fund, in accordance with the rules for the formation and maintenance of the register of independent directors (independent members) of joint-stock companies (partnerships with limited liability company) with one hundred percent participation of the state, with the exception of the National Welfare Fund and the unified accumulative pension fund;

27) exercise other powers provided for by this Law, other laws of the Republic of Kazakhstan, acts of the President of the Republic of Kazakhstan and the Government of the Republic of Kazakhstan.

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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