Article 3. Forms and types of leasing of the Financial Leasing Act

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This Law regulates the following basic forms and types of leasing.

1. Forms of leasing:

1) internal leasing. When carrying out internal leasing, the lessor and the lessee are residents of the Republic of Kazakhstan.;

2) international leasing. When carrying out international leasing, the lessor or the lessee is a non-resident of the Republic of Kazakhstan.

2. Types of leasing:

1) returnable leasing is a type of leasing in which the seller sells the leased item to the lessor on condition that the leased item is leased as the lessee.;

1-1) secondary leasing is a type of leasing in which the leased item remaining in the ownership of the lessor in the event of termination or termination of the lease agreement is leased to another lessee in accordance with Article 2 of this Law.;

2) bank leasing is a type of leasing in which the bank acts as the lessor.;

3) full leasing is a type of leasing in which the maintenance of the leased item and its routine repairs are carried out by the lessor;

3-1) sublicensing is a type of leasing in which the lessee (sublicensee), in accordance with Article 2 of this Law, transfers to third parties (sublicensees) for temporary possession and use for a fee and for a period in accordance with the terms of the sublicensing agreement property previously received from the lessor under the lease agreement and constituting the leased object.;

4) net leasing is a type of leasing in which the maintenance of the leased item and its routine repairs are carried out by the lessee;

5) Islamic leasing is a type of leasing carried out, taking into account the specifics established by Chapter 2-1 of this Law, by Islamic banks on the basis of a license from the authorized body for regulation, control and supervision of the financial market and financial organizations, as well as other legal entities established in the organizational and legal form of a joint–stock company and not banks.

The Law of the Republic of Kazakhstan dated July 5, 2000 No. 78.

This Law regulates relations arising in the process of financial leasing and is aimed at attracting investments based on leasing activities.

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Republic of Kazakhstan

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