Press release to the draft order of the Minister of Finance of the Republic of Kazakhstan «On amendments to the order of the Deputy Prime Minister - Minister of Finance of the Republic of Kazakhstan dated February 28, 2023 №218 «On approval of the Rules and forms for the provision of public services «Application of the extrajudicial bankruptcy procedure»»

Press release to the draft order of the Minister of Finance of the Republic of Kazakhstan «On amendments to the order of the Deputy Prime Minister - Minister of Finance of the Republic of Kazakhstan dated February 28, 2023 №218 «On approval of the Rules and forms for the provision of public services «Application of the extrajudicial bankruptcy procedure»»

The Ministry of Finance of the Republic of Kazakhstan has developed a draft order of the Minister of Finance of the Republic of Kazakhstan «On amendments to the order of the Deputy Prime Minister - Minister of Finance of the Republic of Kazakhstan dated February 28, 2023 №218 «On approval of the Rules and forms for the provision of public services «Application of extrajudicial bankruptcy procedures»».
The draft has developed:
1) in accordance with subparagraph 1) of Article 9 of the Law of the Republic of Kazakhstan «On restoration of solvency and bankruptcy of citizens of the Republic of Kazakhstan» (hereinafter - the Law);
2) in pursuance of paragraph 29 of the list of legal acts, the adoption of which is stipulated by the Law of the Republic of Kazakhstan dated June 19, 2024
«On amendments and additions to certain legislative acts of the Republic of Kazakhstan on the issues of minimizing risks in lending, protecting the rights of borrowers, improving regulation of the financial market and executive production» approved by Order of the Prime Minister of the Republic of Kazakhstan dated July 2, 2024 № 95-r.
The purpose of the draft is to bring it into compliance with Chapter 2 of the Law, according to which the extrajudicial bankruptcy procedure is carried out.
Implementation of the draft will not require the allocation of funds from the republican budget.
The adoption of the draft Order will not entail negative socio-economic and (or) legal consequences.
This draft Order is posted on the Internet portal of open regulatory legal acts https://legalacts.egov.kz/npa/view?id=15143609 July 19, 2024.
The deadline for public discussion of the draft Order is until August 2, 2024.