On the abolition of restrictions on the share of public funds in the authorized funds of banks

DECREE of the President of the Republic of Kazakhstan dated April 12, 1994 N 1649

Based on 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" and in order to improve the management of funds invested by the state in bank shares,

I DECREE:    

1. Not to apply the limitation of the share of one of the founders within thirty-five percent of the bank's authorized capital to public funds invested in bank shares.    

2. The Cabinet of Ministers of the Republic of Kazakhstan should submit for consideration by the newly elected Supreme Council of the Republic of Kazakhstan the draft Law of the Republic of Kazakhstan "On Amendments to the Law of the Republic of Kazakhstan "On Banks in the Republic of Kazakhstan".

3. This Decree has the force of Law and is valid until the adoption of the Law of the Republic of Kazakhstan "On Amendments to the Law of the Republic of Kazakhstan "On Banks in the Republic of Kazakhstan".

President    

Republic of Kazakhstan     

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