Article 8. Management of State property of the Law On State Property

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1. When managing republican property, the Government of the Republic of Kazakhstan organizes the interaction of state bodies of the Republic of Kazakhstan to exercise the rights of the Republic of Kazakhstan to republican property within their competence established by Chapter 2 of this Law and other laws of the Republic of Kazakhstan, regulations and other acts defining the status of these state bodies.

2. When managing communal property, local executive bodies, in accordance with the legislation of the Republic of Kazakhstan, organize interaction between local executive bodies and local self-government bodies to exercise their rights to communal property within their competence established by Chapter 2 of this Law and other laws of the Republic of Kazakhstan, regulations and other acts defining the status of these state bodies.

The competence of the Government of the Republic of Kazakhstan in relation to communal property is determined by Article 11 of this Law and other legislation of the Republic of Kazakhstan.

3. The state audit and financial control bodies check the safety of republican and communal property in accordance with the Law of the Republic of Kazakhstan "On State Audit and Financial Control".

4. State property may be assigned to state-owned legal entities by right of economic management or operational management.

5. The state (the Republic of Kazakhstan or an administrative-territorial unit) may be a founder (shareholder, participant) of joint-stock companies, limited liability partnerships, legal entities registered in accordance with the applicable law of the Astana International Financial Center, and state-owned legal entities.

The State may not act as a founder (participant, contributor, member) of legal entities of the Republic of Kazakhstan that are commercial organizations in any other organizational and legal form.

6. The State (the Republic of Kazakhstan or an administrative-territorial unit) may be the founder of a state foundation that is a non-profit organization. The creation and operation of the state fund, as well as other non-profit organizations in other organizational and legal forms with the participation of the state are regulated by the laws of the Republic of Kazakhstan.

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.

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