Legislative News. February 2017

This Client Update covers the key amendments to the laws of the Republic of Kazakhstan ("RK") and various legal developments introduced in February 2017.

NOVELTIES IN LEGISLATION

The laws covered by the present Client Update are related to both public and private sectors. Some of them may be of interest to you as they may affect your business in Kazakhstan.

We would like to draw your attention to the following legal acts.

LAWS

On Forensic Expert Activities

On 10 February 2017, the President of the RK signed the Law No.44-VI "On Forensic Expert Activities".

The Law introduces the following key amendments:

Forensic Experts Chamber of the RK - a non-commercial professional self-financing organization protecting rights and legal interests, coordination of Chamber members' activities and law compliance. Validation of forensic methods. The Law requires that unique, newly developed or modified methods such as comparison with results received by other methods, inter-laboratory professional testing and systematic evaluation of result affecting factors be validated. The Law came into force on 25 February 2017.

DECREES

Customs Duty Rates

On 13 February 2017, the Prime-Minister of the RK signed the Decree No. 56 concerning customs duty rates.

According to the Decree customs duty rates were changed from foreign currency (EUR) to tenge.

The Decree came into force on 1 March 2017.

Concession Contracts Advisory Support

On 2 February 2017, the Prime-Minister of the RK signed the Decree No. 33 concerning designation of the legal entity for providing advisory support to concession projects.

According to the Decree, Kazakhstan Project Preparation Fund Limited Liability Partnership is a legal entity providing advisory support for republican and local concession projects, unless otherwise specified in the decision of a local executive body, and also republican projects of public private partnership.

The Decree will come into force on the first day of its official publishment. As of this Client Update, there was no official publication.

Second-Tier Banks Conservation

On 26 December 2016, the Chairman of the National Bank of the RK signed the Decree of the Management Board of the National Bank of the RK No. 311 concerning approval of the Rules for application (establishment) of conservation regime in relation to second-tier banks.

Banks conservation is a compulsory implementation of administrative, legal, financial, organizational and technical and other...

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