of February 1, 2012 No. 550-IV ZRK
About National welfare fund
This Law determines legal status, procedure for activities, the purpose, task and power of National welfare fund, order of interaction of National welfare fund and state bodies, and also separate features of legal status of legal entities which shares (share) belong to National welfare fund, and other organizations entering into group of National welfare fund.
In this Law the following basic concepts are used:
1) indirect possession - ownership of each subsequent organization of Fund of shares (shares in the authorized capital) other organization on the property right or trust management;
2) the companies - national institutes of development, the national companies and other legal entities which more than fifty percent of voting shares (shares) belong to Fund on the property right or trust management;
3) the Development plan for Fund - the document determining and proving the mission, vision, the purposes and tasks of Fund for management of the companies directed to increase in the long-term cost (value) in the organizations entering into group of Fund, effective management of the assets entering into group of Fund;
4) group of Fund - Fund, the companies, their affiliated organizations which more than fifty percent of voting shares (shares) belong to the companies, and also legal entities whose more than fifty percent of voting shares (shares) belong to the specified affiliated organizations of the companies concerning which this Law establishes special legal status.
Do not enter into group of Fund:
legal entities whose shares (share) arrived in property of the bank entering into group of Fund in case of the announcement of the biddings on implementation of the pledged shares (shares) cancelled according to the civil legislation of the Republic of Kazakhstan;
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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