Article 59. Functions of state bodies during nationalization The Law on State Property

Home / Laws / Article 59. Functions of state bodies during nationalization The Law on State Property

1. The authorized body for state property carries out all necessary actions related to the actual acceptance of nationalized property.

2. The authorized body for state property includes information on nationalized property in the register of state property.

3. The Government of the Republic of Kazakhstan exercises on behalf of the Republic of Kazakhstan the rights of the owner of the nationalized property.

4. The Government of the Republic of Kazakhstan assigns the nationalized property to a republican legal entity or, according to the rules of Article 114 of this Law, transfers shares or shares of participation in the authorized capital of a specially created joint-stock company or limited liability partnership with one hundred percent participation of the state, or a national management holding company, or a national holding company, or a national company.

5. The authorized body for state property shall manage the nationalized property until its transfer in accordance with the procedure established by paragraph 4 of this Article.

6. From the moment of transfer of the nationalized property, the authorized body for state property monitors the effective use of the nationalized property assigned to republican legal entities.

The Law of the Republic of Kazakhstan dated March 1, 2011 No. 413-IV.

This Law defines the legal regime of state property, the legal basis for the management of State property, including property assigned to State-owned legal entities, and state-owned shares and stakes in the authorized capital of legal entities, the legal grounds for the acquisition and termination of rights to state property, and is aimed at ensuring the effective exercise by the State of the rights of the owner and holder of other rights. on state property.

President

Republic of Kazakhstan

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