This Client Update includes amendments to the legislation of the Republic of Kazakhstan in April 2012.
The Law of the Republic of Kazakhstan No.533-IV dated 09 January 2012 amended the Code of the Republic of Kazakhstan on administrative offenses No.155-II dated 30 January 2001.
From 01 April 2012 the penalty for violation by subsurface user of pre-emptive right of the state for acquisition of crude and (or) commercial gas, as well as for violation by the owner of object of gas supply system of pre-emptive right of the state for acquisition of a single commercial gas supply system, of shares in joint ownership right for the objects of a single commercial gas supply system and (or) shares (participating interest) of legal entities – owners of objects of a single commercial gas supply system on legal entities makes thousand monthly estimated indexes.
STATE REGULATION OF OIL PRODUCTS
An Order of Agency of the Republic of Kazakhstan on regulation of natural monopolies No. 64-OД dated 06 April 2012 “On establishment of limit prices for retail sale of oil products, on which set state regulation of prices” has set the limit prices, in the following amounts including VAT: diesel fuel – 95 tenge per liter; Ai-80 – 91 tenge per liter; Ai-92 – 112 tenge per liter.
Resolution of Government of the Republic of Kazakhstan No.1289 dated 03 November 2011 “On approval of rules of oil suppliers’ access to the processing of crude oil and (or) gas condensate”
The Rules define an order of oil suppliers’ access to the processing of crude oil and (or) gas condensate.
This Resolution shall come into force at the expiration 10 calendar days after the first official publication.
Note: Published – “Kazahstanskaya Pravda” No.93-94 (26912-26913) dated 07 April 2012.
Information contained in this Client Update is of general nature and cannot be used as legal advice or recommendation. Please seek for a specific advice in relation to any questions. Please note that Kazakhstan and Turkmenistan are emerging economies and their legislation and legal systems are in constant development. Should you have any questions or would like to discuss subjects addressed in this Client Update please contact us.