Legislative News

The present Client Update includes Legislative News and key appointments in August 2009.

In August 2009 there were accepted:

• Normative Resolution of the Supreme Court of RoK – 1;

• Decrees of the President of the Republic of Kazakhstan – 4;

• Resolutions of the Government of the Republic of Kazakhstan – 101;

• Other regulatory legal acts.

The majority of the legal acts are connected with the internal regulation of the Government. Nevertheless, mentioned below legal acts can draw your attention and make certain impact on your business in Kazakhstan.

We would like to take your account to the following legal acts:

Resolution of the Government of the Republic of Kazakhstan No.1213 “On approval of the list of the fields (deposits) having strategic value” dated 13.08.2009

With a view of restoration of state economic interests the Government has approved the list of strategic deposits. As you know, approval of such list is provided by item 3-1 of Article 7 of the Law “On subsurface and subsurface use”. According to Article 45-2 and Article 45-3 of the above-named Law the state concerning strategic deposits has the right to amend the contract, to cancel it and to unilaterally withdraw from contract execution.

The list includes 231 mineral deposits (oil, gas, uranium, gold, copper etc.).

Resolution of the Government of the Republic of Kazakhstan No.1201 “On approval the list of institutes of innovative development” dated 06.08.2009

According to the Resolution the Government has approved the list of institutes of innovative development which includes: JSC “National innovative fund”; JSC “Science Fund»; JSC «Center of engineering and technologies transferring»; JSC “KazAgroInnovation”. With help of these organizations the state support of innovative activity will be carried out.

Resolution of the Government of the Republic of Kazakhstan No.1202 “On approval of Rules on providing the innovative grants and providing the reports on the measures accepted on introduction of objects of intellectual property” dated 06.08.2009

Due to state program on support of innovative activity with help of innovative institutes the state provides innovative grants for performance of developmental works and (or) risk researches of applied character, preparation of the technical and economical justification of the innovative project, patenting of object of intellectual property in the foreign states and (or) the international patent organizations, acquisitions of innovative technologies

The Resolution establishes rules of innovative granting, in particular, order of granting, terms of application, competitive conditions and other rules.

Resolution of the Government of the Republic of Kazakhstan No.1204 “On introduction the amendments to the Resolution of the Republic of Kazakhstan dated No.1036 dated 15.10.2009” dated 06.08.2009 regarding change of customs duties rates

According to the Resolution there were changes to the Resolution of the Government of RoK dated 15th October 2005 No.1036 “On collection of the customs duties at export customs territory of the Republic of Kazakhstan of crude oil and the goods possessed from oil”, particularly rates of duties to the goods possessed from oil, such as easy distillates and products, average distillates, heavy distillates (gasoils, fuel liquid) and bitumen oil were changed.

Resolution of the Board of the National Bank of the Republic of Kazakhstan dated No.72 “On establishment of the refinancing official rate of the National Bank of the Republic of Kazakhstan” dated 07.08.2009

According to the Resolution of National Bank since 10th August 2009 the refinancing official rate consist 7,5 annual interest rates.

APPOINTMENTS:

1) Baybek Bauyrzhan Kydyrgaliuly is appointed as a deputy head of Presidential Administration of the Republic of Kazakhstan;

2) Nurpeisov Kayrat Aytmuhambetovich is appointed as the Chairman of Agency of the Republic of Kazakhstan on public service affairs.

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.