Article 15. Specifics of the Fund's implementation of socially significant and industrial-innovative projects of the Law on the National Welfare Fund

Home / RLA / Article 15. Specifics of the Fund's implementation of socially significant and industrial-innovative projects of the Law on the National Welfare Fund

1. The Foundation and organizations belonging to the Foundation's group may participate in the implementation of socially significant and industrial-innovative projects, taking into account the main directions of state policy in industrial-innovative, socio-economic and other spheres, in the areas of the Foundation's activities.

2. The implementation by the Fund or organizations belonging to the Fund's group of socially significant and (or) industrial and innovative projects initiated by the Government of the Republic of Kazakhstan that are low-profitable may be carried out with the provision of full or partial budget financing and (or) state guarantees for non-governmental loans in accordance with the procedure and on the terms stipulated by the budget legislation of the Republic of Kazakhstan.

The rules for classifying socially significant and (or) industrial and innovative projects implemented by the Fund or an organization belonging to the Fund's group as low-profit are approved by the Government of the Republic of Kazakhstan.

3. When the Fund or an organization belonging to the Fund's group carries out industrial and innovative activities, they are provided with measures of state stimulation of industry and state support for innovation activities in accordance with the legislation of the Republic of Kazakhstan on industrial policy and the Entrepreneurial Code of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated February 1, 2012 No. 550-IV.

This Law defines the legal status, operating procedure, goals, objectives and powers of the National Welfare Fund, the procedure for interaction between the National Welfare Fund and government agencies, as well as certain features of the legal status of legal entities whose shares belong to the National Welfare Fund and other organizations belonging to the National Welfare Fund group.

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Republic of Kazakhstan

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