Law of the Republic of Kazahstan on the securities market, March 5, 1997 № 77-1

Law of the Republic of Kazahstan on the securities market, March 5, 1997 N
77-1

Утратил силу в соответствии с Законом РК от 02.07.03 г. № 461-II

As amended by:

1.Law of the Republic of Kazakhstan "On Introduction of Amendments and Additions in Certain Legislative Acts of the Republic of Kazakhstan", dated June 19, 1997. Effective from July 1, 1997 (Article 28)

2.Law of the Republic of Kazkahstan "On Introduction of Amendments and Additions in Certain Legislative Acts of the Republic of Kazakhstan Concerning Banking Activities", dated July 11, 1997 (Article 2, 6, 18, 22, 24, 28, 35); and

3.Law No.282 of 10th July, 1998 of the Republic of Kazakhstan "On Introduction of Amendments and Additions in Certain Legislative Acts of the Republic of Kazakhstan Concerning Joint StockCompanies" (Articles 2, 7, 9, 10, 11, 13 (replaced), 15, 16 (replaced), 18, 21, 22, 23, 24, 24-1 (introduced), 24-2 (introduced), 26, 33, 34, 36, 37, 38, 39, 41, 44, 47, 50, 57)

This Law shall regulate relations emerging in the course of issuance and circulation of securities, exercising activities of securities market entities, and state regulation of the securities market.

CHAPTER I. GENERAL PROVISIONS

Article 1. The Securities Legislation of the Republic of Kazakstan

The RK securities legislation includes this Law, other laws governing legal relationships related to securities issuance and circulation, the statutes of RK President and the Government, as well as of normative legislation acts of the RK governmental agencies issued in accordance with the legislation of the Republic of Kazakstan.

Article 2. Basic concepts

The following concepts shall be made use of in this Law:

Underwriter - a legal entity, which possesses a license for exercising broker and dealer activities on the securities market and which performs placement of securities of an issuer on contractual terms with such an issuer;

An Affiliated Person of a given person (affiliated person)- any legal entity or physical person (except for state bodies, which exercise control over the activities of a given person within the framework of authorities granted to them), which has the right directly and (or) indirectly to determine decisions and (or) exert influence upon the decisions taken by a given person, in particular by virtue of an agreement, including verbal agreements, or any other transactions, as well as any physical person or a legal entity in respect of which a given person has such a right. Officials of a joint stock company, shareholders, which own ten or more percent of its voting shares (in the case of open-type public joint stock company- 5% and more percent) shall be recognized as affiliated persons in an obligatory procedure

A broker is an intermediary transacting in securities on an assignment, for the expense and in the interest of his/her clients under a contract for some compensation .