ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of August 9, 2011 No. 920

About approval of Rules of sale of subjects to privatization

According to Item 2 of article 100 of the Law of the Republic of Kazakhstan "About state-owned property" the Government of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of sale of subjects to privatization.

2. Recognize invalid some decisions of the Government of the Republic of Kazakhstan according to appendix to this resolution.

3. 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 August 9, 2011 No. 920

Rules of sale of subjects to privatization

1. These rules of sale of subjects to privatization (further - Rules) are developed according to Item 2 of article 100 of the Law of the Republic of Kazakhstan "About state-owned property" (further - the Law) and regulate procedure for sale of subjects to privatization at the biddings in the form of auction and the tender, the biddings on the stock exchange, tender by two-stage procedures, sale of the derivative securities certifying share right of the joint-stock companies belonging to the state, except as specified the alienation of the state-owned property which is outside the Republic of Kazakhstan and assigned to bodies of diplomatic service abroad.

Chapter 1. General provisions

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

1) current price - the price of subject to privatization developing during trading in the form of auction on advance in price, or the announced price developing during trading in the form of auction on reduction in price;

2) the initial price - the price of subject to privatization determined based on the valuation report of project cost of privatization submitted by independent consultants or the appraiser, and established by the commission on questions of privatization of objects of state-owned property in the amount of book or estimated value depending on what cost will be the greatest;

3) auction - form of the biddings in case of which participants declare the offers publicly, carried out with use of the web portal of the register in electronic format;

4) the salesroom - the Section of the web portal of the register providing possibility of input, storage and the information processing necessary for holding the auction;

5) auction number - number assigned to the participant for participation at auction, the tender in the presence of the digital signature issued by national certification center of the Republic of Kazakhstan;

6) the affiliate of the potential buyer (acquirer) - any physical person or legal entity which has the right to determine decisions and (or) to exert impact on the decisions accepted by this potential buyer (acquirer), including owing to the transaction made in writing, and also any physical person or legal entity concerning which this potential buyer (acquirer) has such right;

7) the starting price - the price with which the biddings on each subject to privatization begin;

8) tender by two-stage procedures - form of the biddings in case of which the winner of tender is determined by the seller, with participation of independent consultants by carrying out step-by-step negotiations;

9) minimum price - the price below which subject to privatization cannot be sold;

10) subject to privatization - the company as property complex; production and non-productive divisions and structural units of the company as property complex which privatization does not break the closed production cycle; property of the state legal entities; shares of joint-stock companies; shares in the authorized capital of limited liability partnerships; the derivative securities certifying the share rights of joint-stock companies belonging to the state;

11) the winner - the participant of auction and the tender who offered top price for subject to privatization; the participant of the second stage of tender by two-stage procedures who offered the highest price and (or) the best conditions;

12) the guarantee fee - the sum of money given by the payer of the guarantee fee to the receiver of the guarantee fee to ensuring obligation fulfillment according to the conclusion of the agreement during the biddings or execution of other obligation;

13) the participant - the physical or non-state legal entity registered in accordance with the established procedure for participation in auction, the tender or tender by two-stage procedures;

14) cash balance of the participant (further - e-wallet) - the personal account of the potential participant in the register used by the single operator for the cash accounting, brought by the potential participant on the special transit account of the single operator in bank of the second level, connected with:

acceptance of the guarantee fees for participation in the biddings in the form of auction, the tender, except for tender by two-stage procedures;

return of the guarantee fees, except as specified, provided by subitems 1) and 2) of part one of Item 23 of these rules;

15) the commission on questions of privatization of objects of state-owned property (further - the commission) - the collegiate organ created by authorized body on management of state-owned property, local executive body or the office of the akim of the city of district value, the village, settlement, rural district for the preparation and tendering on privatization provided by the Law and these rules;

16) selling price - the final price of subject to privatization established by results of the held auction;

17) the seller (person making property acquisition) - authorized body on state-owned property, local executive body or the office of the akim of the city of district value, the village, settlement, rural district;

18) the buyer (acquirer) - the physical person or the non-state legal entity acquiring property in the course of alienation of state-owned property;

19) the biddings - privatization type;

20) method of the biddings on advance in price - the method applied at the biddings in the form of auction in case of which the starting price raises with the announced step;

21) method of the biddings on reduction in price - the method applied at the biddings in the form of auction in case of which the starting price goes down with the announced step;

22) independent consultants - legal entities, including the foreign or their associations, participants of estimative and (or) investing activities, and (or) financial consultation involved as the seller for the purpose of evaluating project cost of privatization and (or) support of the transaction on subjects to privatization;

23) the tender - form of the biddings in case of which participants declare the price offers loaded into the closed electronic envelope on the specially allotted web page of the register;

24) the web portal of the register - the Internet resource placed on the Internet to the address: www.e-qazyna.kz providing single point of access to the electronic database about objects of sale of the register of state-owned property (further - the register);

25) the organizer - the seller or the legal entity or physical person involved according to the procedure, determined by the legislation on public procurements, for the organization of process of alienation on the stock exchange and the state-owned property which is abroad;

26) the electronic document - the document in which information is provided in electronic and digital form and is certified by means of the digital signature;

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