The Constitutional Law of the Republic of Kazakhstan of 7 December, 2015 № 438-V «On ASTANA International Financial Center» (has been amended by the 2017)

The Constitutional Law of the Republic of Kazakhstan of 7 December, 2015 № 438-V
«On ASTANA International Financial Center»
(has been amended by the 2017)

Unofficial translation

Footnote. Article 1 as amended by the Constitutional Law of the Republic of Kazakhstan of March 13, 2017 № 52-VI; of December 22, 2017 № 119-VI

Article 1. Basic concepts used in this Constitutional Law

This Constitutional Law uses the following main definitions:

1) ASTANA International Financial Center (hereinafter - the Center) is a territory within Astana city with precisely defined borders, determined by the President of the Republic of Kazakhstan, in which a special legal regime is implemented in the financial sphere;

2) Stock exchange is a legal entity acting in the legal form of a joint-stock company that provides organizational and technical support for trading of financial instruments in the Center;

3) Licensing is a package of activities related to the issuance of a permit to carry out activities on the Center territory, which are subject to licensing;

4) Act of the Center is a written official document approved by the Center body, which regulates the relations arising between the Center participants and (or) the Center bodies, and (or) their employees;

5) Center participants are legal entities registered in accordance with the current law of the Center, and also other legal entities accredited by the Center;

6) Employee of the Center participant or Center body is an individual who is in employment relationship with the Center participant or Center body, and whose duties include the implementation of the main goals and objectives of the Center participant or Center body;

7) Family members of employee of the Center participant or body include spouse of employee of Center participant or Center body and their children under the age of eighteen;

8) Identification Numbers Center Register is an information system which is meant to record and store data on the existing and leaving the business Center bodies, their institutions and Center participants, and also the creation and storage of data on identification numbers;

9) Identification number is a unique number made in the format of a business identification number for the Center bodies, their institutions and Center participants, which allows to record the related data in the Identification Number Center Register.

Footnote. Article 2 as amended by the Constitutional Law of the Republic of Kazakhstan of December 22, 2017 №. 119-VI

Article 2. The goals, objectives and principles of the Center's operation and its regulation

1. the Center is aimed to develop a leading international financial services center.

2. The objectives of the Center include:

1) to promote investments in the economy of the Republic of Kazakhstan by creating favourable conditions for investing in financial services;

2) to develop securities market of the Republic of Kazakhstan, ensuring its integration with international capital markets;