Article 24-1. Transfer to a competitive environment of the assets of the Fund and organizations, more than fifty percent of the voting shares (participation interests) of which are directly or indirectly owned by the Fund under the ownership right of the Law on the National Welfare Fund

Home / RLA / Article 24-1. Transfer to a competitive environment of the assets of the Fund and organizations, more than fifty percent of the voting shares (participation interests) of which are directly or indirectly owned by the Fund under the ownership right of the Law on the National Welfare Fund

Article 24-1. Transfer to a competitive environment of the assets of the Fund and organizations, more than fifty percent of the voting shares (participation interests) of which are directly or indirectly owned by the Fund under the ownership right of the Law on the National Welfare Fund

1. The procedure for transferring to a competitive environment the assets of the Fund and organizations, more than fifty percent of the voting shares (participation interests) of which are directly or indirectly owned by the Fund, is determined by the Board of Directors of the Fund.

2. The list of assets of legal entities specified in paragraph 1 of this Article recommended for transfer to a competitive environment is determined by the Government of the Republic of Kazakhstan.

3. The transfer of assets to a competitive environment is carried out by means of an open two-stage tender, direct addressable sale, electronic tender, auction, on the stock exchange, in other ways not prohibited by the laws of the Republic of Kazakhstan, and is carried out:

1) with the involvement of independent consultants on assets of socio-economic importance, the possession and (or) use, and (or) disposal of which will have an impact on the state of national security of the Republic of Kazakhstan. The method of sale of such assets is determined by the Board of Directors of the Fund based on the proposals of independent consultants in compliance with the requirements of the legislation of the Republic of Kazakhstan.;

2) for other assets – in accordance with the procedure determined by the Board of Directors of the Fund, provided for in paragraph 1 of this Article.

4. The auction is conducted by the method of price increase with the establishment of the starting price in the amount of the initial price, determined by the seller in the amount of the book value or estimated value, depending on which value will be the highest.

Selling at auction using the method of lowering the price is not allowed.

Auctions in which only one participant participated shall be deemed to have taken place if the participant offered a value not less than the initial price determined in accordance with part one of this paragraph.

Each subsequent auction is carried out within twenty business days.

5. During the auction, the starting price of the asset being sold is equal to the initial selling price of the asset being sold. - Excluded by the Law of the Republic of Kazakhstan dated June 24, 2025 No. 196-VIII SAM

6. The initial price of the asset to be sold is set by the seller in accordance with the legislation of the Republic of Kazakhstan on state property. - Excluded by the Law of the Republic of Kazakhstan dated June 24, 2025 No. 196-VIII SAM

The initial price of the asset being sold may be lower than the book value of the asset being sold.

7. The sale of assets by auction by legal entities provided for in paragraph 1 of this article is carried out on the web portal of the register of state property.

8. The sale of assets of legal entities provided for in paragraph 1 of this Article is allowed at a price lower than the book value of the asset being sold. - Excluded by the Law of the Republic of Kazakhstan dated June 24, 2025 No. 196-VIII SAM

9. Unrealized assets based on the results of three auctions are subject to liquidation or reorganization in accordance with the procedure established by the legislation of the Republic of Kazakhstan.

10. The procedure for the direct targeted sale of assets of legal entities provided for in paragraph 1 of this article is determined by the Board of Directors of the Fund.

The Law of the Republic of Kazakhstan dated February 1, 2012 No. 550-IV.

This Law defines the legal status, operating procedure, goals, objectives and powers of the National Welfare Fund, the procedure for interaction between the National Welfare Fund and government agencies, as well as certain features of the legal status of legal entities whose shares belong to the National Welfare Fund and other organizations belonging to the National Welfare Fund group.

President

Republic of Kazakhstan

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases

Статья 72. Определение дохода физического лица, подлежащего налогообложению, в отдельных случаях, в том числе косвенным методом Кодекса О налогах и других обязательных платежах в бюджет (Налоговый кодекс) Республики Казахстан

Статья 72. Определение дохода физического лица, подлежащего налогообложению, в отдельных случаях, в том числе косвенным методом Кодекса О налогах и других обязательных платежа...