Commentary to article 60. Management of an economic partnership of the Civil Code of the Republic of Kazakhstan
As a legal entity, an economic partnership operates through its governing bodies. Each body acts within the limits of its assigned competence.
Recently, significant changes have been made to the editorial board of the commented article. Such an incomprehensible entity as the control commission was excluded from the management bodies of the business partnership.
The General Meeting (meeting of representatives) of participants is the supreme governing body of an economic partnership, through which all participants can influence the activities of the partnership by voting on issues within the competence of the meeting. The order of activity and competence of the supreme governing body of a particular type of business partnership is determined by the relevant norms of the Civil Code, other legislative acts and constituent documents.
The current management of the business partnership is carried out by the executive body - the director, the president, etc. (the sole body) or the directorate, the board, etc. (the collegial body). The executive body of the partnership has the right, within the limits of the rights granted to it by the constituent documents or the general meeting (meeting of representatives) of the participants, to dispose of funds and other property of the partnership, conclude contracts, enter into other legal relations on behalf of the business partnership. The director, president, or other sole body of the partnership may be elected from outside the membership. The article quite naturally focuses on the sole body, which means that the members of the collegial body can also be elected from outside the participants.
As for the supervisory board, it can be established only in LLP and JSC for the purpose of monitoring and supervising the activities of the executive body - the management board.
In order to achieve the most effective way of managing a business partnership, its participants can create other management bodies.
A new clause 4 has been introduced into the commented article, which defines the terms and procedure for auditing the economic and financial activities of the partnership.
The procedure of activity and competence of the governing bodies of a business partnership is regulated by the norms of the Civil Code, the Decree on Business Partnerships, other legislative acts and constituent documents.
Comments on The Civil Code The Code of Criminal Procedure The Criminal Code The Normative resolution of the Supreme Court The criminal legislation The normative legal acts of the Republic of Kazakhstan
The commentary was prepared within the framework of the scientific and practical research program of the Scientific Research Center of Private Law of the Kazakh State Law University.
Head of the working group on the preparation of the draft Civil Code of the Republic of Kazakhstan, Corresponding Member of the Academy of Sciences of the Republic of Kazakhstan, Professor Suleimenov M.K.
Deputy head Professor Basin Yu.G.
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