Article 21. Formation and (or) replenishment of the endowment fund (endowment capital) The Law on Endowment Funds and Endowment Funds (Endowments)

Home / RLA / Article 21. Formation and (or) replenishment of the endowment fund (endowment capital) The Law on Endowment Funds and Endowment Funds (Endowments)

1. An endowment fund (endowment capital) is formed and (or) replenished with money in national and foreign currencies, movable and immovable property, securities, other property and property rights having a monetary value in national currency, on the basis of a donation, donation or endowment agreement(s), as well as a will, contributions from the founders of the endowment fund, voluntary donations, and investment income on the terms established by the founding document and (or) the decision of the Board of Trustees on the establishment of the endowment fund (endowment capital).

2. It is not allowed to include in the assets of the endowment fund (endowment capital) donations intended to finance charity facilities in accordance with the Law of the Republic of Kazakhstan "On Charity".

3. The endowment fund (target capital) must have an individual name that identifies it in relation to other endowment funds (target capital) and contains the name or designation of the beneficiary.

The formation of an endowment fund (endowment capital) without an individual identifying name is not allowed.

4. The property contributed to the endowment fund (endowment capital) becomes the property of the endowment fund, with the exception of the property transferred under the endowment agreement.

5. The formation and (or) replenishment of the endowment fund (endowment capital) with property encumbered by the rights of third parties is not allowed.

The requirements of part one of this paragraph do not apply to repo transactions with securities carried out at the expense of assets of the endowment fund (endowment capital).

6. The Endowment Fund has the right to form several endowment funds (endowments) on the basis of trust management agreements, as well as in cases where the donation, donation, or endowment agreement(s), as well as the will, define various goals for the formation of the endowment fund (endowment capital).

7. The formation and replenishment of an endowment fund (endowment capital) and the use of investment income for purposes other than those provided for by this Law are not permitted.

The Law of the Republic of Kazakhstan dated June 30, 2025 No. 199-VIII SAM.

This Law regulates public relations that arise during the creation, management and liquidation of endowment funds, the formation, replenishment, and dissolution of endowment funds (endowment funds) and the use of their investment income, and the trust management of assets of endowment funds (endowment funds).

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Republic of Kazakhstan

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