A round table discussion of the draft law on bankruptcy of individuals was held at the site of the Central Communications Service
On February 23, 2022, a round table was held at the site of the Central Communications Service under the President of the Republic of Kazakhstan to discuss the draft law on bankruptcy of individuals. The event was attended by members of the working group, independent experts, representatives of public associations and the media.
The round table was chaired by First Vice Minister of Finance of the Republic of Kazakhstan Marat Sultangaziev.
Experts in the field of financial relations were invited to the next meeting of the Working Group. For your information, the working group established on January 20 this year included deputies of the Mazhilis of the Parliament, members of public associations, as well as representatives of interested state bodies.
On February 4 of this year, the Concept for the Draft Law was approved by members of the Interdepartmental Working Group on Legislative Activity.
On March 1, the public discussion of the draft Law and related legislative acts on the portal of Open NPAs ends.
To date, the draft law "On the restoration of solvency and bankruptcy of citizens of the Republic of Kazakhstan" is being actively discussed by the society. This is also due to the fact that today a significant number of citizens are facing a deterioration in their financial situation. The reasons are different: loss of work or ability to work, a decrease in the level of well-being against the background of the general economic downturn and the introduction of quarantine measures for coronavirus infection.
During the event, the developers heard constructive proposals to the draft Law, which will be taken into account when developing the project.
Speech by the Deputy Chairman of the SRC, K.I.Miyatov
Dear members of the Working Group, Dear Invited Experts!
Taking into account the discussions, the Draft Law reflects the following provisions:
1. The only housing that is a pledge is subject to withdrawal in the procedure of judicial bankruptcy.
2. The debt threshold for the application of the bankruptcy court procedure is set at 1600 MCI.
3. There is a restriction for bankrupts to travel abroad for 3 years (with the exception of going for treatment or accompanying a sick relative) and obtaining new loans within 5 years.
4. The deadline is 7 years for repeated bankruptcy (previously 10 years were proposed).
The following conditions are set for out-of-court bankruptcy:
1) non-repayment of debts to STB, collectors and MFIs for a period of more than 5 years;
2) non-fulfillment of obligations within 12 months on a debt of up to 100 MCI;
3) non-fulfillment of obligations within 6 months on debts from 100 to 1600 MCI;
At the past Working Groups, many proposals were made, on which the following solutions are proposed:
1 proposal - To expand the grounds for traveling abroad – for training and employment.
I propose to support this proposal.
2 proposal - To provide for the specifics of the implementation of the only housing that is a pledge.
I propose to supplement the draft Law with a clarifying norm on compliance with the provisions of the Law "On Mortgage of Immovable Property" and the Civil Code.
3 proposal – There are concerns that the debtor will not have the funds to pay for the services of financial managers.
I propose to provide for the possibility of payment from the state budget for the services of a financial manager for certain categories of debtors.
4 The proposal is to oblige the debtor to notify creditors about the beginning of bankruptcy.
I propose to support it, it will protect the rights of creditors.
5 the proposal is to strengthen responsibility for possible fraudulent actions in bankruptcy.
I propose to provide for the obligation of the authorized body to monitor the financial condition of an individual after bankruptcy for 3 years.
6 the proposal is to assign the obligation to appoint financial managers in the bankruptcy court procedure to a court or an authorized body (the draft provides for an agreement between the financial manager and the debtor).
I propose to assign this function to the authorized body.
For reference: according to Article 213.9 of the Law of the Russian Federation "On Insolvency (Bankruptcy)", the financial manager is appointed by the arbitration court (from among the managers of the SRO specified in the application).
7 the proposal is to provide for the procedure for documenting the completion of out-of-court bankruptcy.
I propose to automatically send notifications to the debtor and creditors on the completion of the procedure after 6 months on the e-government web portal.
8 proposal – To save information about the bankruptcy of a citizen on the portal "electronic government" and the State Security Committee for 7 years after the completion of the procedure.
I propose to support this proposal.
9 the proposal is to establish a state fee of up to 0.3 MCI for filing an application for bankruptcy recognition with the court.
I propose to support.
10 proposal - To provide for the possibility of concluding a settlement agreement.
I also propose to support this proposal.
(Article 213.31 of the Law of the Russian Federation "On Insolvency (Bankruptcy)" provides for the specifics of termination of proceedings in the bankruptcy case of a citizen in connection with the conclusion of a settlement agreement)
11 the proposal is to provide an opportunity to submit an application through PSC in an appearance on paper.
I think it is right to support this proposal
12 the proposal is to provide grounds for invalidating transactions if, when selling property, the persons are related (affiliated).
I propose to finalize the bill in this part.
13 proposal - To grant creditors the right to initiate bankruptcy proceedings.
I propose to consider it after practical application.
(according to Article 213.5 of the Law of the Russian Federation "On Insolvency (Bankruptcy)", a creditor and an authorized body are also entitled to initiate a judicial bankruptcy procedure if there is a court decision that has entered into legal force and confirms creditors' claims for monetary obligations)
14 proposal - To extend the law to foreigners, Candace and persons with permanent residence.
I propose to consider it after practical application.
15 proposal - To establish a ban on holding a managerial position, including being a founder, shareholder of a legal entity, on carrying out activities in state organizations.
I propose to consider it after practical application.
(in accordance with article 213.30 of the RF Law "On insolvency (bankruptcy)" bankrupt-a physical person: 3 years to take a position in the management bodies of legal entities 10 years to take up positions in the management bodies of the credit institution, 5 years to take a position in the management bodies of an insurance company, pension Fund, MFIs, etc.)
16 proposal – to Provide the creditor's right to obtain information about the property of members of the family bankrupt.
I propose to consider it after practical application.
(according to Article 213.9 of the Law of the Russian Federation "On Insolvency (Bankruptcy)", the financial manager has the right to receive information only about the debtor-citizen)