Laws - in the interests of business
The Mazhilis considers amendments on improvement of civil legislation and the improvement of Kazakhstan's position in the rating “Doing Business”
By the Resolution of the Government on 30th of June 2015 № 491 to the consideration of the Mazhilis of the Parliament was submitted a draft law "On amendments and additions to some legislative acts of the Republic of Kazakhstan on improvement of civil legislation".
The draft law is aimed at the improvement of civil legislation, including the expansion of discretionary of private law, types of property rights, the grounds of their origin, the improvement of the Institute on invalidation of deals.
Also under the draft law were considered the amendments on improvement of the position of Kazakhstan in the rating “Doing Business”.
One of the conceptual innovations with risks for entrepreneurs, is the division of invalid transactions in the insignificant, i.e. regardless of their recognition by the court, and contested –recognized invalid by the court, as well as referring alleged transaction to the null and void, the audit of all LLP (large, medium and small businesses) on the request of minority.
A working group was established to develop the draft law, which included staff of NCE, in the frames of which were held about 32 meetings on 255 amendments.
During the meetings of the working groups on justifications of NCE, MPs and members of the working group supported by:
- The establishment of the legal opportunity for all entities to create other separate structural subdivisions;
- The classification of the imaginary transaction to the voidable;
- The introduction of the "principle of questioning of all transactions";
- The exclusion of requirements for small businesses to carry out an audit on the request of minority shareholders;
- The support for the introduction of suspensive standard prior to 1st of January 2018, regarding the integration of banks and insurance companies with the web portal of "electronic government";
- support for alternative format of the application / a notice on the collateral redemption (electronically or in writing);
- Adoption of the optimal business rule providing for an additional responsibility of the officials of the company (Art. 63 of the law "On Joint Stock Companies").
Due to justifications of NCE the proposals of state agencies were not adopted that provide tighter control against businesses.
Currently, the draft law is considered at the plenary session of the Mazhilis of the Parliament of the Republic of Kazakhstan
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