Article 88. Liquidation of the company The Law on Joint Stock Companies
1. The decision on the voluntary liquidation of the company is made by the general meeting of shareholders, which determines the liquidation procedure in agreement with creditors and under their control in accordance with the legislative acts of the Republic of Kazakhstan.
2. The compulsory liquidation of the company is carried out by the court in cases stipulated by the legislative acts of the Republic of Kazakhstan.
A claim for the liquidation of a company may be brought to court by interested parties, unless otherwise provided by legislative acts of the Republic of Kazakhstan.
3. The liquidation commission is appointed by the decision of the court or the general meeting on the liquidation of the company.
The Liquidation Commission has the authority to manage the company during its liquidation and perform actions, the list of which is determined by the legislation of the Republic of Kazakhstan.
In case of voluntary liquidation, the liquidation commission must include representatives from the company's creditors, representatives of major shareholders, as well as other persons in accordance with the decision of the general meeting of shareholders.
4. The liquidation procedure of the company and the procedure for satisfying the claims of its creditors are regulated by the legislation of the Republic of Kazakhstan.
5. Upon liquidation of the company, its declared, including outstanding, shares are subject to cancellation in accordance with the procedure established by the legislation of the Republic of Kazakhstan.
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.
President
Republic of Kazakhstan
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases
