Article 16. Application for provisional interim measures of the Law on the Return of Illegally Acquired Assets to the State

Home / RLA / Article 16. Application for provisional interim measures of the Law on the Return of Illegally Acquired Assets to the State

1. In the event of a risk of withdrawal from the country or transformation of an asset, its encumbrance, or the risk of other circumstances that may make it difficult or impossible to return assets to the state, including information (notification) received from a person (group of persons) included in the register about the intention of a paid or gratuitous alienation in any form, encumbrance in any form, transfer to trust management of assets belonging to him (or part thereof), The authorized body for asset recovery sends an application to the court in order to take preliminary interim measures.

2. An application for provisional interim measures shall be filed with the court in compliance with the rules of jurisdiction provided for in accordance with the Civil Procedure Code of the Republic of Kazakhstan.

3. The authorized body for asset recovery applies to foreign courts and (or) other competent authorities of foreign states with applications, petitions and requests for legal assistance in the form of seizing assets of persons included in the register and (or) taking other measures aimed at suppressing actions aimed at making it difficult or impossible to find and asset recovery.

4. Persons who have acquired property in respect of which the court has previously taken preliminary interim measures, interim measures to ensure the property interests of the state, are not bona fide purchasers.

5. If the authorized body for the return of assets fails to file a claim for the conversion of the relevant assets into state income, the asset owner has the right to demand compensation for losses (in the amount of actual damage) caused to him by unjustified adoption of preliminary interim measures in court according to the rules of the Civil Procedure Code of the Republic of Kazakhstan, except for the following cases:, when preliminary interim measures have been taken in connection with the actions of the owner to alienate or intend to alienate the relevant assets without prior notification to the authorized body for the return of assets in accordance with the provisions of paragraph 1 of Article 15 of this Law.

This Law, in the interests of current and future generations of Kazakhstanis, regulates public relations to identify and return illegally acquired assets to the state (hereinafter referred to as asset recovery) in order to restore the violated rights of the people of Kazakhstan, ensure the rule of law, social justice, and sustainable economic and social development of Kazakhstan for the benefit of its people.

President

Republic of Kazakhstan

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