Article 47. Direct agreement with the lender of the private partner of the Law on Public-Private Partnership
A direct agreement with a private partner's lender provides for the following conditions:
1) the obligation of the public partner to inform the creditors of the private partner about cases of significant violations of obligations under the public-private partnership agreement, which may lead to non-fulfillment of the terms of the public-private partnership agreement;
2) pledge of rights under a public-private partnership agreement and (or) assignment of the right of claim or transfer of debt to a private partner with the consent of the public partner;
3) the right of creditors of a private partner to demand the replacement of a private partner in the event of a significant violation of their obligations under the public-private partnership agreement, which may lead to its non-fulfillment under the terms of the public-private partnership agreement, as well as to propose a candidate for a new private partner;
4) the procedure for replacing a private partner in the cases provided for in subparagraph 3) this article;
5) other conditions that do not contradict the legislation of the Republic of Kazakhstan.
The Law of the Republic of Kazakhstan dated October 31, 2015 No. 379-V SAM.
This Law defines the legal conditions of a public-private partnership, its methods of implementation and regulates public relations arising in the process of preparing and implementing a public-private partnership project, concluding, executing and terminating a public-private partnership agreement.
President
Republic of Kazakhstan
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