DECREE No. 1322 OF 15TH OCTOBER 2001 OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN CONCERNING THE DRAFT OF THE LAW OF THE REPUBLIC OF KAZAKHSTAN «CONCERNING INVESTMENTS»

DECREE No. 1322 OF 15TH OCTOBER 2001 OF THE GOVERNMENT OF THE REPUBLIC OF
KAZAKHSTAN CONCERNING THE DRAFT OF THE LAW OF THE REPUBLIC OF KAZAKHSTAN
"CONCERNING INVESTMENTS"

The Government of the Republic of Kazakhstan decrees:

That the draft of the Law of the Republic of Kazakhstan "Concerning Investments" shall be submitted for the consideration of the Majilis of the Parliament of the Republic of Kazakhstan.

Draft

LAW OF THE REPUBLIC OF KAZAKHSTAN

CONCERNING INVESTMENTS

This Law regulates the relations which are associated with investments in the Republic of Kazakhstan and defines the law and economic grounds of the stimulation of investments, guarantees the protection of the rights of investors when carrying out investments in the Republic of Kazakhstan, defines the measures of state promotion of investments, the procedure for settlement of disputes with participation of investors.

Chapter 1. General Provisions

Article 1. The Legislation of the Republic of Kazakhstan Concerning Investments

1. The legislation of the Republic of Kazakhstan concerning investments shall be based on the Constitution of the Republic of Kazakhstan and shall consist of the rules of this Law, legislative and other regulatory legal acts of the Republic of Kazakhstan.

2. This Law shall not regulate the relations which are associated with:

carrying out investments from the funds of the state budget;

investing capital into non-commercial organisations, in particular for educational, charity, scientific or religious purposes.

3. Relations which emerge in the case of carrying out investments and which pertain to the sphere of the effect of other legislative acts shall not be covered by the provisions of this Law, except for the cases that are provided for by such legislative acts.

4. If the international treaties that were ratified by the Republic of Kazakhstan have established different provisions than ones which are provided for in this Law, then the provisions of the international treaty shall be applied.

5. Investment preferences shall be granted in accordance with the procedure which is established by this Law.

Article 2. Main Terms and Definitions Which Are Used in This Law

The following definitions are used in this Law:

1) investments - all types of property and intellectual values, as well as rights to them which are invested into the authorised capital of a commercial legal entity or into the creation or increase of main assets which are used for entrepreneurial activities, in the form of items of civil rights which are owned by the investor, if such items of civil rights are not limited in circulation in the Republic of Kazakhstan in accordance with legislative acts, in particular the money, securities, other property (except for goods which are determined for the sale without processing or for personal consumption), property rights, rights to results of intellectual activities;