ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of June 24, 2011 No. 700

About approval of Rules of transfer of republican property to trust management

According to Item 3 of article 75 of the Law of the Republic of Kazakhstan of March 1, 2011 "About state-owned property" the Government of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of transfer of republican property to trust management.

2. This resolution becomes effective after ten calendar days after the first official publication.

Approved by the Order of the Government of the Republic of Kazakhstan of June 24, 2011 No. 700

Rules of transfer of republican property to trust management

1. General provisions

1. These rules are developed according to the Law of the Republic of Kazakhstan of March 1, 2011 "About state-owned property" (further the Law) and determine procedure for transfer to trust management of objects of the state-owned republican property, including carrying out the tender, the conclusions of contracts with trustees and control of obligation fulfillment by trust management agreements.

2. In these rules the following basic concepts are used:

1) governing body - the authorized body of the corresponding industry (sphere) performing rights of possession and uses of the state block of shares (shares in the authorized capital) joint-stock company (limited liability partnership) and/or management of the republican state company;

2) market value - the project cost in case of decision making about its transfer to trust management with the right of the subsequent redemption determined based on the valuation report of the appraiser according to the legislation of the Republic of Kazakhstan on estimative activities;

3) object - property complex of the state company, securities, property rights (shares in the authorized capital), the money belonging to the state and also other state-owned republican property acting as subject of the trust management agreement in the cases provided by the Civil code of the Republic of Kazakhstan and other laws of the Republic of Kazakhstan;

4) the founder of trust management of republican property - authorized body on state-owned property;

5) the trustee - the physical persons and non-state legal entities who signed the trust management agreement with the founder of trust management of republican property;

6) the winner of the tender - the participant of the tender which according to the conclusion of the tender commission offered the best terms;

7) the tender - form of the competitive biddings on transfer to trust management of object by which the founder of trust management of republican property shall on the basis of terms offered to them to sign the contract with the winner of the tender;

8) the tender commission - the commission created by the founder of trust management of republican property for the organization and carrying out the tender for transfer of object to trust management;

9) the participant of the tender - the physical person or legal entity allowed to participation in the tender;

10) the agreement - the trust management agreement of object signed between the founder of trust management of republican property and the trustee.

2. Procedure for transfer of object to trust management

3. The decision on transfer of object to trust management with the right or without the right of the subsequent redemption is accepted by the founder of trust management of republican property.

4. In case of organization of trust management of object with the right of the subsequent redemption or for improvement of the unprofitable state companies, carrying out the tender is obligatory.

5. Offers on transfer of the unprofitable companies to trust management are made by the state bodies exercising control of the unprofitable companies, to the founder of trust management of republican property.

For the purpose of these rules the republican state companies answering to the following criteria treat the unprofitable companies:

1) decrease in indicators of profitability of the current, main and nonbasic activities within three years and/or failure to provide of their planned sizes;

2) failure to carry out of planned targets on net income within three years in a row.

6. Transfer of object to trust management without the right of the subsequent redemption can be performed without carrying out the tender in the following cases:

1) before transfer of objects in payment for the authorized capital of legal entities;

2) transfers of rooms, buildings and constructions up to hundred square meters, the equipment in the residual cost of no more hundred-fiftyfold monthly settlement indicator performed based on written consent of asset holders;

3) cessions of property, being on balance of the public institutions relating to objects of particular treatment, performed based on written consent of asset holders;

4) transfers of paid highways (sites) to the National operator on management of highways.

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