On the use of funds received from the sale of government shares
DECREE of the President of the Republic of Kazakhstan dated April 12, 1994 N 1643
In order to pursue an active investment policy, deepen the privatization process and in accordance with Article 1 of the Law of the Republic of Kazakhstan "On the temporary delegation of additional powers to the President of the Republic of Kazakhstan and heads of local administrations", I HEREBY DECREE:
1. Funds received from the sale of state-owned shares in state-owned joint-stock companies are credited to their accounts and used exclusively for investments in their own production and technical re-equipment.
2. For state-owned joint-stock companies that are part of national, state-owned joint-stock companies, including holding companies, funds received from the sale of a state-owned stake are credited to their accounts and used exclusively for investments in production and technical re-equipment of enterprises that are part of the company, and the diversification of companies' activities.
3. Control over the implementation of this Decree is entrusted to the State Committee of the Republic of Kazakhstan on State Property.
4. This Decree has the force of Law and is valid until appropriate amendments and additions are made to the Law of the Republic of Kazakhstan "On Denationalization and Privatization".
5. The Cabinet of Ministers of the Republic of Kazakhstan should submit for consideration by the newly elected Supreme Council of the Republic of Kazakhstan a draft Law of the Republic of Kazakhstan "On Amendments and Additions to the Law of the Republic of Kazakhstan "On Denationalization and Privatization".
6. The Decree comes into force from the moment of its publication.
President
Republic of Kazakhstan
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