Legislative News. June 2017

This Client Update covers the key amendments to the laws of the Republic of Kazakhstan ('RK') and various legal developments introduced in June 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 legislative acts.

INTERNATIONAL TREATIES

GENERAL AGREEMENT ON ECONOMIC, TECHNICAL AND TRADE COOPERATION BETWEEN THE MEMBER STATES OF THE ORGANIZATION OF THE ISLAMIC CONFERENCE

On 1 June 2017, the President of the RK signed Law No. 68-VI 'On Ratification of the General Agreement on Economic, Technical and Trade Cooperation Between the Member States of the Organization of the Islamic Conference'.

The General Agreement between the Member States of the Organization of the Islamic Conference ('OIC') is aimed at cooperation among the Member States in the trade, economic and technical areas.

As of today, the OIC has 57 members.

LOAN AGREEMENT BETWEEN RK AND ADB

On 13 June 2017, the President of the RK signed Law No. 70-VI 'On Ratification of the Loan Agreement (Ordinary Operations) (Aktobe-Makat Road Rehabilitation Project) between the Republic of Kazakhstan and the Asian Development Bank'.

The RK is provided the loan of USD 240,300,000 under the terms and conditions of the subject loan agreement. The purpose of the reconstruction of 'Aktobe-Makat' highway connecting corridors 1 and 6 of CAREC ('the Project') is to improve the operational characteristics of the republican network of highways, to increase the transit potential and to improve the social and economic development of Western Kazakhstan.

The completion of the Project is expected by 30 June 2021.

LAWS

ON THE PROSECUTOR'S OFFICE

On 30 June 2017, the President of the RK signed Law No. 81- VI 'On the Prosecutor's Office' ('the Law').

The Law determines the status, competences, organization and procedural rules for the Prosecutor's Office in the RK. The document was developed and adopted following the changes to the Constitution of the RK.

The major novelties of the Law are as follows:

The Law specifies the types of the legal acts that cannot be protested against by the prosecutor; sets out grounds for and consequences arising out of adoption of the acts of the public prosecutor oversight; the compulsory enforcement of oversight acts can be carried out only by courts; The Law sets out in...