Article 22. Collection of money for the formation and (or) replenishment of the endowment fund (endowment capital) The Law on Endowment Funds and Endowment Funds (Endowments)

Home / RLA / Article 22. Collection of money for the formation and (or) replenishment of the endowment fund (endowment capital) The Law on Endowment Funds and Endowment Funds (Endowments)

1. The Endowment Fund has the right to announce the collection of money for the formation and (or) replenishment of the endowment fund (endowment capital).

2. Money collection is carried out on the basis of a standard form of a target contribution agreement or with the involvement of voluntary donations.

3. The Endowment Fund is obliged to observe the transparency of the money collection process, provide access to information about the amount of money collected, its sources and use.

4. When collecting money, the persons providing voluntary donations accept the offer containing the terms of the donation agreement by joining it.

5. Voluntary donations are made by transferring money to the bank accounts of the endowment fund.

6. The collection of money for the formation and (or) replenishment of the endowment fund (endowment capital) is carried out on the basis of concluding a standard form of a special purpose contribution agreement with each contributor individually.

7. In case of collecting money, the endowment fund is obliged to provide free access to the following information and documents to any interested parties:

1) the charter of the endowment fund and the certificate of state registration (re-registration) of the legal entity;

2) information about the address (location) of the permanent executive body;

3) the standard form of the target contribution agreement;

4) financial plan;

5) the endowment fund (endowment fund) charitable program;

6) information on the numerical and personal composition of the Board of Trustees;

7) information about the management company (fiduciary), indicating its (his) name, address (location) of its permanent executive body;

8) information on the amount of administrative and management expenses of the endowment fund, the share of these expenses financed by investment income in accordance with this Law;

9) annual financial and audit reports for the last financial year.

8. In the case of collecting money for the formation and (or) replenishment of the endowment fund (endowment capital), the endowment fund provides free access to the information and documents specified in subitems 4), 5), 8) and 9) of paragraph 7 of this Article, after the approval of the specified documents and the formation of the specified information.

9. The information and documents provided for in paragraph 7 of this Article shall be posted by the endowment fund on its official Internet resource within the following time limits::

1) the announcement of the collection of money to replenish the formed endowment fund (endowment capital) - simultaneously with the announcement of the collection of money;

2) announcement of the collection of money for the formation of an endowment fund (endowment capital) - simultaneously with the announcement of the collection of money (with the exception of information and documents specified in subparagraphs 4), 5), 8) and 9) of paragraph 7 of this Article and placed in accordance with subparagraph 3) of this paragraph);

3) approval of the specified documents or amendments made to them, or formation or modification of the specified information after the announcement of the collection of money – no later than three calendar days after the date of approval of the relevant document or the date of formation or modification of the relevant information.

The Law on Endowment Funds and Endowment Funds (Endowments)

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).

President

Republic of Kazakhstan

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