This CLIENT UPDATE includes amendments to the legislation of the RoK in February 2012.
The following 119 regulatory legal acts were adopted in February 2012:
– Laws – 19;
– Decrees of the President of the Republic of Kazakhstan – 3;
– Resolutions of the Government of the Republic of Kazakhstan – 67;
and other regulatory legal acts.
Most of these regulatory legal acts concern the public sector, but among them there are some which may attract your attention and alter the conduct of one’s business in Kazakhstan in a certain way.
We would like to draw your attention to the following regulatory legal acts:
Law of the Republic of Kazakhstan No.564-IV dated 17 February 2012 “On changes and amendments to certain legislative acts on improvement of competitive enterprises (came into legal force from 11 March 2012 except some regulations, which came into legal force from 1 January 2012)
The law is elaborated for the purpose of improving the bankruptcy system regarding the application of the accelerated rehabilitation procedure (a new kind of procedure of financial improvement).
The law makes amendments to many legislative acts, regarding the application of the insolvent debtor concerning the measures, directed on restoration of its solvency in the form of accelerated rehabilitation, regarding court consideration in condition of special procedures on rehabilitation and accelerated rehabilitation.
Law of the Republic of Kazakhstan No.566-IV dated 17 February 2012 “On introduction of amendments to Labor Code (came into legal force on 11 March 2012)
The law is directed on legal regulation improving labor relations taking into account labor international standards, as well as improving the existing forms and methods of social partnership and provision of employees’ rights.
The Code is added by the norms of the National qualification system, by provisions on order of position combination (expansion of service zone) and performance of duties of the temporarily absent employee, and also by provisions of work regulation features of the employees, involved in distance work.
Law of the Republic of Kazakhstan No.567-IV dated 20 February 2012 “On introduction of amendments to certain legislative acts on investment issues (came into legal force on 3 March 2012 except some provisions which came into legal force on 5 July 2010)
For the purposes of investment stimulation into non-raw sector of economy from the third party countries and investors’ support, the Law provides the granting of investment preferences to them in the form of abatement of custom taxation upon import of repair parts to equipments, raw materials and materials imported from the third countries for realization of the investment project.
Resolution of the government of the Republic of Kazakhstan No.1210 dated 27 October 2011 “On approval of accreditation rules of wholesale oil product suppliers (came into legal force on 1 February 2012)
The rules define requirements to accredited subjects and the accreditation procedure of wholesale oil product suppliers.
Resolution of the government of the Republic of Kazakhstan No.197 dated 3 February 2012 “On approval of the forms, representation and preparation rules of declarations on oil product turnover (was not come into legal force)
The forms of declarations on oil product turnover and representation and drafting Rules of declarations on oil product turnover are approved, which define the order of representation and drafting of declarations on petroleum turnover, aviation and diesel fuel, fuel oil.
Resolution of the government of the Republic of Kazakhstan No.185 dated 1 February 2012 “On approval of using system rules of electronic grain receipts” (did not come into legal force)
These Rules define an order of using systems of electronic grain receipts, including the registration procedure, grain account in system of electronic grain receipts, circulation and redemption of electronic grain receipts.
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.