Article 9. Committees of the Board of Directors The Law On the National Welfare Fund

Home / RLA / Article 9. Committees of the Board of Directors The Law On the National Welfare Fund

1. Permanent committees under the Fund's Board of Directors may be established to consider the most important issues and prepare recommendations to the Fund's Board of Directors.

To consider strategic planning issues, a strategy committee is being established, headed by the first head of the central authorized body for state planning.

If the issue submitted to the Board of Directors of the Fund is within the authority of any committee, it is mandatory for them to pre-consider the relevant issue and prepare an opinion on it.

The specialized Committee provided for in Article 14 of this Law shall be established without fail.

2. The committees of the Board of Directors of the Fund consist of members of the Board of Directors of the Fund and experts with the necessary professional knowledge to work in a particular committee.

The Chairman of the Fund's Management Board may not be the Chairman of the committee of the Fund's Board of Directors.

3. In order to improve the quality of decision-making by the Board of Directors of the Fund, funds may be provided within the framework of the annual budget of the Fund to attract consultants, including international ones, on issues considered by the board of Directors or its committees.

4. The procedure for the formation and work of the committees of the Board of Directors of the Fund, their powers, and their quantitative composition are established by internal documents approved by the Board of Directors of the Fund.

The Law of the Republic of Kazakhstan dated February 1, 2012 No. 550-IV.

This Law defines the legal status, operating procedure, goals, objectives and powers of the National Welfare Fund, the procedure for interaction between the National Welfare Fund and government agencies, as well as certain features of the legal status of legal entities whose shares belong to the National Welfare Fund and other organizations belonging to the National Welfare Fund group.

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Republic of Kazakhstan

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