Article 27. Recognition of the state registration of the issue of equity securities as invalid The Law on the Securities Market
1. The state registration of the issue of equity securities may be declared invalid in court.
2. The grounds for recognizing the state registration of the issue of equity securities as invalid are:
1) violation by the issuer of the legislation of the Republic of Kazakhstan;
2) the discovery of false information in the documents on the basis of which the state registration of the issuer as a legal entity was carried out;
3) the discovery of false information in the documents on the basis of which the state registration of the issue of equity securities was carried out.
3. The recognition by the court of the state registration of the issue of equity securities as invalid is the basis for the cancellation by the authorized body of the issue of equity securities.
Within three months from the date of cancellation of the issue of shares, the joint-stock company makes a decision on registration of a new issue of shares or reorganization or liquidation of the company.
The Law of the Republic of Kazakhstan dated July 2, 2003 No. 461.
This Law regulates public relations arising in the process of issuance, placement, circulation and repayment of equity securities and other financial instruments, the specifics of the creation and operation of securities market entities, defines the procedure for regulation, control and supervision of the securities market in order to ensure the safe, open and effective functioning of the securities market, protection of investors' rights. and holders of securities, fair competition of securities market participants.
President
Republic of Kazakhstan
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