of December 23, 1995 No. 2721
About privatization
Privatization means sale of state-owned property in the property to physical, non-state legal entities and foreign legal entities made at will of the state as the owner, within the special procedures established by this Law, or according to the procedure it determined.
1. Subjects of privatization are the seller and the buyer.
2. The seller - the state body authorized on privatization implementation.
3. The buyer - the physical person, the non-state legal entity or the foreign legal entity acquiring property in the course of privatization.
With participation they are on the side of the buyer of several persons solidary.
4. Legal entities who according to legal acts of the Republic of Kazakhstan or constituent documents have no right to be engaged in those types of activity which implementation is sales term of subject to privatization cannot be buyers in case of privatization.
5. In case of sale of the state block of shares the buyer joint-stock company cannot acquire more than 25 percent of shares of joint-stock company if the last holds shares of the buyer.
6. The seller has the right to involve the intermediary to the organization of process of privatization.
1. The legislation of the Republic of Kazakhstan on privatization consists of this Law, other legal acts, decrees and orders of the President of the Republic of Kazakhstan, the orders of the Government of the Republic of Kazakhstan.
2. Authorized bodies can issue the acts governing the relations on privatization in cases and in the limits provided by this Law and other legal acts.
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The document ceased to be valid according to the Law of the Republic of Kazakhstan of 01.03.2011 No. 413-IV