Article 6. Sublicensing of the Financial Leasing Act

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1. Unless otherwise established by the legislative acts of the Republic of Kazakhstan or the lease agreement, the lessee has the right, with the written consent of the lessor, to sublicense the leased item. In this case, the sublicensor and the sublicensee act as the lessor and the lessee, have the rights and bear the obligations defined by this Law for these participants in the leasing transaction.

In this case, the transfer by the lessee to the sublicensee of its obligations to pay lease payments under the lease agreement is allowed only with the written consent of the lessor.

2. A subleasing agreement may not be concluded for a period exceeding the term of the leasing agreement.

3. The rules on the lease agreement apply to the subleasing agreement, unless otherwise established by legislative acts or the lease agreement.

4. Unless otherwise provided by the lease agreement, early termination of the lease agreement shall entail termination of the subleasing agreement concluded in accordance with it. In this case, the sublicensee has the right to conclude a lease agreement with the lessor for the leased item that was in his use in accordance with the sublicensing agreement within the remaining sublicensing period on terms corresponding to the terms of the terminated lease agreement.

5. If the lease agreement is declared invalid on the grounds provided for by this Law, the Civil Code or other legislative acts of the Republic of Kazakhstan, then the subleasing agreement concluded in accordance with it is considered null and void.

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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