Article 295. Terms of termination of the investment contract of the Entrepreneurial Code of the Republic of Kazakhstan
1. The effect of investment preferences is terminated upon the expiration of the investment contract or may be terminated before the expiration of such period in accordance with the procedure established by this article.
2. The investment contract may be terminated prematurely.:
1) by agreement of the parties;
2) unilaterally.
3. In case of non-fulfillment or improper fulfillment by the investor of obligations under the investment contract and in case of failure by the investor to submit documents substantiating the possibility of further implementation of the investment project in order to amend the contract, the authorized investment authority prematurely terminates the investment contract unilaterally after three months from the date of notification.
In case of termination of the investment contract, the specified legal entity pays the amounts of taxes and customs duties not paid to the budget as a result of the investment preferences provided under the investment contract.
4. In case of early termination of an investment contract on the initiative of a legal entity of the Republic of Kazakhstan that has concluded an investment contract, the specified legal entity unilaterally pays the amounts of taxes and customs duties unpaid as a result of investment preferences provided under the investment contract.
5. In case of early termination of the investment contract by agreement of the parties, the legal entity of the Republic of Kazakhstan that concluded the investment contract shall pay the amounts of taxes and customs duties unpaid as a result of the investment preferences provided under the investment contract.
6. In case of early termination of the investment contract, the legal entity of the Republic of Kazakhstan that concluded the investment contract returns the property in kind provided to it as a state grant in kind, or its original value at the date of transfer in accordance with the terms of the investment contract.
6-1. In case of termination of the investment contract, the legal entity of the Republic of Kazakhstan reimburses in full the amount of the investment subsidy paid under the investment contract.
7. The return of the state in-kind grant is carried out by a legal entity of the Republic of Kazakhstan that has concluded an investment contract within thirty calendar days after the decision of the authorized investment body on early termination of the investment contract.
The footnote. Article 295 as amended by the Law of the Republic of Kazakhstan dated December 25, 2017 No. 122-VI (effective from 01.01.2018).
President
Republic of Kazakhstan
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
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