Article 7. The Founding Agreement. The decision of the sole founder of the Law On Joint Stock Companies

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1. The founding agreement (the decision of the sole founder) contains:

1) information about the founders (sole founder) of the company, including:

in relation to an individual, the name, nationality, place of residence and the details of the identity document;

in relation to a legal entity, its name, location, and data on state registration;

2) an entry on the establishment of the company, the full and abbreviated names of the company, as well as the procedure for its creation;

3) the amount of advance payment for shares by the founders, as well as the terms and procedure of payment;

4) the number, types and nominal value of the declared shares of the company, which will be placed among its founders (acquired by the sole founder) after the state registration of the issue of shares;

5) the rights and obligations of its founders and the distribution of expenses related to the establishment of the company, as well as other conditions for the founders to carry out activities related to the establishment of the company;

6) determining the powers of the persons charged with representing the interests of the company in the process of its creation and state registration;

7) the procedure for convening and holding subsequent meetings of the company's founders, as well as the number of votes of each founder of the company at subsequent constituent meetings;

8) record of approval of the company's articles of association;

9) other conditions to be included in the founding agreement (decision of the sole founder):

by decision of the founders;

in accordance with the legislative acts of the Republic of Kazakhstan.

2. During the period of validity of the founding agreement (decision of the sole founder), its parties (the sole founder) have the right to make changes and additions to it, subject to compliance with the requirements established by paragraph 3 of Article 6 of this Law.

3. The information set forth in the founding agreement (the decision of the sole founder) is a commercial secret, unless otherwise provided by the agreement itself (the decision of the sole founder). The founding agreement (the decision of the sole founder) is subject to presentation to state bodies, as well as to third parties only by decision of the company or in cases established by legislative acts of the Republic of Kazakhstan.

4. The validity of the founding agreement (the decision of the sole founder) is terminated from the date of state registration of the issue of the declared shares.

The Law of the Republic of Kazakhstan dated May 13, 2003 No. 415.

This Law defines the legal status, procedure for the establishment, operation, reorganization and liquidation of a joint-stock company; the rights and obligations of shareholders, as well as measures to protect their rights and interests; the competence, procedure for the formation and functioning of the bodies of a joint-stock company; the powers, procedure for the election and responsibility of its officials.

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Republic of Kazakhstan

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