Limited Liability Partnership "Recovered Asset Management Company"

In implementation of the Law of the Republic of Kazakhstan "On the Return of Illegally Acquired Assets to the State" (hereinafter referred to as the Law), by Resolution No. 824 of the Government of the Republic of Kazakhstan dated September 21, 2023, the Company for the Management of Returned Assets (hereinafter referred to as the Management Company) was established, a Special State Fund (hereinafter referred to as the Fund) was established, and the necessary legal acts, the adoption of which is stipulated by the Law, were approved.

Assets returned to state ownership, voluntarily or involuntarily, with the exception of assets in monetary form, are included in the property of the Management Company.

Order No. 1061 of the Deputy Prime Minister – Minister of Finance of the Republic of Kazakhstan dated October 5, 2023, "On Approval of the Rules for the Management of Assets Transferred by the Management Company" (hereinafter referred to as the Rules) approved the procedure for the company to manage assets received on the grounds stipulated by the Law.

According to the Rules, asset sales are carried out for the purpose of replenishing the Fund and are the primary purpose of the Management Company's management of the assets acquired by it. Depending on their specific nature, assets may be leased, transferred to a trust, or subject to conservation prior to their sale.

Furthermore, assets in which the state has an interest may be transferred to state ownership.