Article 18. Preventive control without visiting the subject of control The Law on Rehabilitation and Bankruptcy

Home / RLA / Article 18. Preventive control without visiting the subject of control The Law on Rehabilitation and Bankruptcy

1. The objectives of preventive control without visiting the subject of control are the timely suppression, prevention of violations and granting the right to independently eliminate violations identified by the authorized body by the subject of control.

The subject of control is the administrator.

2. The method of conducting preventive control without visiting the subject of control is the mutual comparison of data and information received by the authorized body, which include:

1) current and requested information on the progress of the rehabilitation or bankruptcy procedure.

The form, procedure and time limits for providing such information are established by the authorized body.;

2) information from authorized state bodies, as well as from other sources on the activities of the administrator and the debtor.

The state body, individual and legal entity to which the request of the authorized body has been received are obliged, in cases and in accordance with the procedure provided for by the laws of the Republic of Kazakhstan, to disclose any confidential information (banking, tax, commercial secrets) and to provide copies of any documents containing confidential information concerning the debtor and the rehabilitation or bankruptcy procedure carried out by the administrator.

The deadline for executing the request of the authorized body is ten working days from the date of its receipt, except in cases where a longer period of execution is specified in the request itself.

3. If violations are detected based on the results of preventive control without visiting the subject of control, a notification is sent in the form established by the authorized body, no later than five working days from the date of detection of violations.

The notification must be delivered to the subject of control personally against signature or in any other way confirming the facts of its sending and receipt.

A notification sent by one of the following methods is considered served in the following cases::

1) on purpose – from the date of the mark in the notification of receipt;

2) by mail – from the date of notification of receipt of the postal item by registered mail;

3) electronically – from the date of sending via the web application of the authorized body's Internet resource.

4. The notification of the elimination of violations identified by the results of preventive control without visiting the subject of control must be executed within ten working days from the day following the day of its delivery.

5. In case of disagreement with the violations indicated in the notification, the control entity has the right to send an objection in writing and (or) in the form of an electronic document to the authorized body that sent the notification within five working days from the day following the day of delivery of the notification.

6. Failure to comply with the notification on the elimination of violations identified by the results of preventive control without visiting the subject of control within the prescribed period entails the appointment of preventive control with a visit to the subject of control by including in the semi-annual list of preventive control with a visit to the subject of control.

7. If the authorized body finds violations that cannot be eliminated, a notification is sent to the administrator in the form established by the authorized body, no later than five working days from the date of detection of the violation.

8. Preventive monitoring without visiting the subject of control is carried out quarterly.

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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