Article 5. Ownership under the concession agreement The Law On Concessions is excluded by the Law of the Republic of Kazakhstan

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Article 5. Ownership under the concession agreement The Law On Concessions is excluded by the Law of the Republic of Kazakhstan | Kyrgyz Republic Zanymen alynyp tastaldy.

1. State-owned immovable and movable property, exclusive rights related to the implementation of activities on concession facilities, are granted for temporary possession and use to the concessionaire in accordance with the procedure provided for in the concession agreement.

2. The improvements made at the concession facilities, as well as construction-in-progress facilities and property rights to the results of intellectual and creative activities that arose during the fulfillment of the terms of the concession agreement, are transferred to state ownership, unless otherwise provided by the concession agreement.

3. The objects of the concession that have arisen as a result of the fulfillment of the terms of the concession agreement are transferred to state ownership after their creation, unless otherwise provided by the concession agreement.

4. The products and other income received by the concessionaire as a result of the operation of the concession facilities are his property, unless otherwise provided by the concession agreement.

5. The objects of the concession may not be the subject of collateral during the term of the concession agreement.

6. The concession facilities are not subject to alienation for the duration of the concession agreement.

7. The concessionaire bears the risk of accidental loss or accidental damage to state property transferred to him for possession and use under the concession agreement, as well as property arising from the results of the concession agreement, unless otherwise provided by the concession agreement.

8. When the concessionaire co-finances the concession project and (or) the concessionaire pays compensation to the concessionaire for investment costs, the concession object is transferred to state ownership.

The Law of the Republic of Kazakhstan dated July 7, 2006 No. 167.

This Law defines the legal conditions of the concession, the types of state support for the concessionaire, and regulates public relations arising in the process of concluding, executing, and terminating concession agreements.

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Republic of Kazakhstan

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