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Article 166. Legal regulation of the exercise by the State of its rights to shares in joint-stock companies and shares in the authorized capital of limited liability partnerships of the Law on State Property
1. The legal regulation of the establishment of joint-stock companies and limited liability companies with the participation of the state, the rights of shareholders (participants), the formation and powers of management bodies of joint-stock companies and limited liability companies with the participation of the state is carried out by the laws of the Republic of Kazakhstan "On Joint-Stock Companies", "On Limited and Additional Liability Companies" and other laws of the Republic of Kazakhstan with taking into account the specifics established by this chapter.
2. In joint-stock companies and limited liability partnerships with the participation of the Republic of Kazakhstan, on behalf of the Government of the Republic of Kazakhstan, the right of a shareholder (participant) to participate in the management of a joint-stock company (limited liability company) is exercised by the authorized body for state property.
The rights of ownership and use of the state-owned block of shares (stakes in the authorized capital) may be transferred by the authorized body for state property to the authorized body of the relevant industry by decision of the Government of the Republic of Kazakhstan. The authorized body for state property retains the right to dispose of the state-owned block of shares (stakes in the authorized capital).
The authorized body of the relevant industry exercising the rights of ownership and use of the state block of shares (participation shares in the authorized capital) represents the interests of the state as a shareholder (participant) in matters falling within the competence of the general meeting of shareholders (general meeting of participants), in accordance with the legislation of the Republic of Kazakhstan.
3. In joint-stock companies and limited liability partnerships with the participation of an administrative-territorial unit, the right of the administrative-territorial unit as a shareholder (participant) to participate in the management of the joint-stock company (limited liability company) is exercised by the local executive body.
4. excluded by the Law of the Republic of Kazakhstan dated December 26, 2018 No. 202-VI (effective from 01.01.2020).
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
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
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