On Approval of the Rules for the Management of Assets Transferred to the Management Company
Order of the Deputy Prime Minister - Minister of Finance of the Republic of Kazakhstan
dated October 5, 2023 No. 1061. Registered with the Ministry of Justice of the Republic
of Kazakhstan on October 9, 2023 No. 33523.
In accordance with Clause 7 of Article 33 of the Law of the Republic of Kazakhstan "On the Return
of Illegally Acquired and Withdrawn Assets to the State," I ORDER:
1. To approve the attached Rules for the Management of Assets Transferred to the Management
Company.
2. To the State Property and Privatization Committee of the Ministry of Finance
of the Republic of Kazakhstan, in the manner established by the legislation of the Republic of Kazakhstan,
to ensure:
1) state registration of this order with the Ministry of Justice
of the Republic of Kazakhstan;
2) posting of this order on the website of the Ministry of Finance
of the Republic of Kazakhstan;
3) Within ten business days of the state registration of this
order with the Ministry of Justice of the Republic of Kazakhstan, submit to the Department
of the Legal Service of the Ministry of Finance of the Republic of Kazakhstan information on
the implementation of the measures stipulated in subparagraphs 1) and 2) of this paragraph.
3. This order shall enter into force ten calendar days after the date of its first official publication.
Deputy Prime Minister -
Minister of Finance of the Republic of Kazakhstan
Y. Zhamaubayev
Approved by Order of the
Deputy Prime Minister - Minister of Finance
of the Republic of Kazakhstan dated October 5, 2023 No. 1061
Rules for the Management of Assets Transferred to the Management Company
Footnote. The Rules are as amended by Order of the Minister of Finance of the Republic of Kazakhstan dated October 4, 2024 No. 667 (
shall enter into force ten calendar days after the date of its first
official publication).
Chapter 1. General Provisions
1. These Rules for the Management of Assets Transferred to the Management Company
(hereinafter referred to as the Rules) have been developed in accordance with Clause 7 of Article 33 of the Law
of the Republic of Kazakhstan "On the Return of Illegally Acquired Assets to the State" (hereinafter referred to as the Law) and define the procedure for the management company to manage assets
that have become part of the management company's property on the grounds
provided for by the Law.
2. The following terms are used in these Rules:
1) Asset management – the acceptance by the management company of assets
returned within the framework of the Law, ensuring their safety, maintaining
assets and disposing of them, and ensuring the transfer of funds from the sale of assets to the Special
State Fund;
2) Special State Fund – a cash control account opened
with the central authorized body for budget execution in accordance with the
Budget Code of the Republic of Kazakhstan, for the recording of receipts and
disbursements of funds for the purpose of financing social and economic projects
of the Republic of Kazakhstan, as well as the authorized body's expenses for the return
of illegally acquired assets in the manner determined by law;
3) Auction – a form of bidding in which participants submit their bids
publicly, conducted, inter alia, electronically using the registry's web portal;
4) Management Company – a legal entity established in accordance with the
Law;
5) Single Operator – a legal entity with state participation in the authorized
capital, designated by a decision of the Government of the Republic of Kazakhstan, which is
entrusted with the implementation of a unified technical policy in the sphere of organization and
accounting of state property;
6) Commission – a commission and/or commissions of the management company created to
perform functions and activities related to the acceptance of assets, determining the method
of asset management, asset sale, as well as other functions and tasks
related to asset management in accordance with these Rules;
7) Commission fee – a portion of the proceeds from the sale of assets,
withheld by the management company until the proceeds from the sale
of assets are transferred to the Special State Fund in accordance with the Law;
8) Commercial tender – the sale of assets on a competitive basis by selecting
buyers based on submitted bids, including commercial
proposals;
9) Conservation – a set of measures to protect assets from the influence of external
factors for a period and within the limits established by the objective of preserving the commercial
attractiveness, value, and cost of assets;
10) Consultant – a company, including an international company, that
provides consulting services necessary for asset management;
11) Expert – legal entities and/or individuals with specialized and/or technical knowledge, experience, and qualifications, providing the relevant services necessary for asset management;
12) Tender – a form of bidding for the provision of an asset for property lease (rental), trust management, or for the sale of an asset, in which the management company undertakes, based on the accepted initial conditions, to conclude an agreement with the tender participant who offers the asset to the management company.