Article 15. Competence of the authorized body of the Law on Rehabilitation and Bankruptcy

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Authorized body:

1) maintains a register of notifications of persons authorized to carry out the activities of the administrator;

1-1) places on the Internet resource of the authorized body a list of persons authorized to carry out the activities of the administrator;

1-2) appoints as interim manager a person who is selected by the creditor of taxes and customs payments, a government agency or a legal entity with the participation of the state;

1-3) develops and approves the rules for the selection of a temporary manager if the applicant is a creditor of taxes and customs payments, a government agency or a legal entity with the participation of the state;

1-4) develops and approves regulatory legal acts of the Republic of Kazakhstan in the field of rehabilitation and bankruptcy in accordance with the purpose and objectives of this Law and the legislation of the Republic of Kazakhstan;

2) appoints a candidate submitted by the creditors' meeting as rehabilitation or bankruptcy administrator.;

3) dismisses the rehabilitation and bankruptcy managers;

4) carries out state control over compliance with the legislation of the Republic of Kazakhstan on rehabilitation and bankruptcy;

5) reviews the current information of the rehabilitation manager on the progress of the rehabilitation procedure, the interim manager, the bankruptcy manager on the progress of the bankruptcy procedure;

6) excluded by the Law of the Republic of Kazakhstan dated 07/01/2024 No. 107-VIII (effective sixty calendar days after the date of its first official publication).

7) requests supporting documents from the rehabilitation participant;

8) monitors compliance with the procedure for conducting an electronic auction for the sale of the debtor's property;

9) approves the sale of the bankrupt's property by the temporary manager in the case provided for by this Law.;

10) informs the law enforcement agencies about the available data indicating the presence of signs of deliberate bankruptcy;

11) considers complaints about actions (inaction) the administrator;

12) takes measures to identify transactions made under the circumstances specified in Article 7 of this Law.;

13) excluded by the Law of the Republic of Kazakhstan dated 07/01/2024 No. 107-VIII (effective sixty calendar days after the date of its first official publication). 14) excluded by the Law of the Republic of Kazakhstan dated December 27, 2019 No. 290-VI (effective ten calendar days after the date of its first official publication);

15) requests and receives information from government agencies, legal entities and their officials about debtors in respect of whom the rehabilitation or bankruptcy procedure has been applied;

16) provides the temporary and bankruptcy administrators with information on the availability and numbers of the bank accounts of the person for whom the court decision on declaring bankruptcy has entered into force, on the balances and movement of money in these accounts;

17) challenges decisions and actions (inaction) in court the administrator in case of detection of violations of this Law;

18) provides electronic services using information systems in accordance with the legislation of the Republic of Kazakhstan on informatization;

19) in cases and in accordance with the procedure established by law, draw up protocols and consider cases of administrative offenses, impose administrative penalties within its competence;

20) excluded by the Law of the Republic of Kazakhstan dated December 29, 2014 No. 269-V (effective from 01.01.2015);

21) within the limits of its competence, provides explanations and comments on the introduction, conduct and termination of debt restructuring, rehabilitation, bankruptcy and liquidation procedures without initiating bankruptcy proceedings;

22) excluded by the Law of the Republic of Kazakhstan dated 07/01/2024 No. 107-VIII (effective sixty calendar days after the date of its first official publication). 23) excluded by the Law of the Republic of Kazakhstan dated December 27, 2019 No. 290-VI (effective after ten calendar days after the date of its first official publication); 23-1) excluded by the Law of the Republic of Kazakhstan dated March 29, 2016 No. 479-V (effective after twenty-one calendar days after the date of its first official publication); 23-2) is excluded by the Law of the Republic of Kazakhstan dated 07/01/2024 No. 107-VIII (effective sixty calendar days after the date of its first official publication).

23-3) develops and approves professional standards for administrators;

24) 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 7, 2014 No. 176-V SAM.

This Law regulates public relations arising from the debtor's inability to satisfy creditors' claims in full, establishes the grounds for applying debt restructuring procedures, rehabilitation procedures and declaring the debtor bankrupt, liquidating the debtor without initiating bankruptcy proceedings, and also defines the procedure and conditions for their conduct.

President

Republic of Kazakhstan

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