LAW OF THE REPUBLIC OF KAZAKHSTAN

of July 7, 2004 No. 580-II

About compulsory insurance of civil responsibility of owners of objects whose activities are connected with danger of damnification to the third parties

This Law governs the public relations arising in the field of compulsory insurance of civil responsibility of owners of objects whose activities are connected with danger of damnification to the third parties and establishes legal, economic and organizational basis of its carrying out.

Article 1. The basic concepts used in this Law

In this Law the following basic concepts are used:

1) accident - destruction of the buildings, constructions and (or) technical devices used on hazardous production facility, uncontrollable explosion and (or) emission of dangerous substances;

2) incident - the refusal or damage of the technical devices used on hazardous production facility, variation from the parameters ensuring safety of conducting engineering procedure, which did not lead to accident;

3) dangerous production factor - the physical phenomenon arising in case of accidents, incidents on hazardous production facilities, doing harm to life, health and (or) property of the third parties;

4) the owner of object which activities are connected with danger of damnification to the third parties, - the physical and (or) legal entity owning object which activities are connected with danger of damnification to the third parties, on the property right, the right of economic maintaining or the right of operational management or on any other legal cause;

5) the civil owner's liability of object which activities are connected with danger of damnification to the third parties, - the obligation of physical and (or) legal entities established by the civil legislation of the Republic of Kazakhstan to compensate the harm done to life, health and (or) property of the third parties by dangerous production factor;

6) the beneficiary - person who according to this Law is receiver of insurance payment;

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