of December 28, 2009 No. 8
About application of the legislation on joint-stock companies
For the purpose of ensuring uniform application by courts of the legislation of the Republic of Kazakhstan on joint-stock companies the plenary session of the Supreme Court of the Republic of Kazakhstan decides:
1. In case of the dispute resolution about observance of procedure for creation, reorganization, liquidation and activities of joint-stock company; rights and obligations of shareholders, and also measures for protection of their rights and interests; competences, procedure for education and functioning of bodies of joint-stock company; powers, procedure for election and responsibility of his officials, and also other disputes following from the specified relations, courts should be guided by regulations of the Constitution of the Republic of Kazakhstan, the Civil code of the Republic of Kazakhstan (further - group of companies), the Law of the Republic of Kazakhstan of May 13, 2003 No. 415-II "About joint-stock companies" (further - the Law) and other regulatory legal acts which provisions shall be applied taking into account features of the legal acts of the Republic of Kazakhstan existing at the time of emergence of dispute.
If the international treaty ratified by the Republic of Kazakhstan establishes others, than containing in the Law, governed, then regulations of the international treaty are applied directly.
2. Joint-stock company (further - society) the legal entity issuing shares for the purpose of attraction of financial resources for implementation of the activities, and the shareholder - person who is the owner of shares is recognized.
Can act as founders of society as physical, and (or) legal entities, jointly or in singular, made the decision on its creation. The foundation agreement (the decision of the single founder) shall contain the data specified in Item 1 of article 7 of the Law.
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