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Article 66. The Transfer of a Share (Part of a Share) of a Participant of a General Partnership

1. A transfer by a participant of his share (part of share) to any other participants of a general partnership or to third parties shall be possible only with the consent of all the other participants.

2. When transferring a share (part of the share) to a third entity, the transfer shall take place at the same time of the whole set of rights and obligations which belong to the participant who is exiting the general partnership.

3. In the case of the demise of a participant of a general partnership, the legal successor (inheritor) may, with the consent of all the other participants enter the partnership.

4. The legal successor (inheritor) shall bear the liability on the debts of the participant before the general partnership and also on the debts of the partnership before the third parties, which arise during the period of the partnership's business.

5. When the legal successor (inheritor) refuses to enter the general partnership or the partnership refuses to accept the legal successor (inheritor), he shall be paid the value of his share in the assets of the partnership, which belongs to him on the basis of the legal successorship as determined on the day of the demise of the participant.

In those cases the amount of property of the partnership, which is indicated in the foundation agreement (charter) shall be appropriately reduced within the deadlines which are provided for by the foundation agreement (charter) but not later than in three months.

Article 67. The Departure of a Participant from a General Partnership

amended by (11) Law of 11th July 1997 of the Republic of Kazakhstan. Concerning the Introduction of Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan Concerning Issues of Banking Activity.

1. The participant of a general partnership may at any time depart from the partnership after notifying thereof the other participants not later than the term provided for by legislative acts or the foundation agreement.

2. When, after the exit of a participant, the general partnership persists, the participant shall be paid the value his share in the assets of the partnership in proportion to the contribution made, in accordance with the balance-sheet compiled on the day of the departure. Upon the demand of the participant, and with the consent of the partnership, the contribution may be returned entirely or partially in kind. The participant who exited shall also be paid the amount of profit net income which has been received by the partnership in that year during the period of his being with the partnership within that year, which is owed to himin that year. Properties transferred by the participant of a partnership for use only shall be returned to him in kind without remuneration.

Article 68. The Exclusion of a Participant from a General Partnership

1. The participants of a general partnership shall have the right to require in a judicial procedure the exclusion of one or of several participants from the partnership upon a unanimous resolution of the remaining participants, provided there are serious reasons for that, in particular, a gross violation by him (them) of his (their) obligations or when the inability to manage business becomes established.

2. A participant who is excluded form a general partnership, shall be paid the value of the part of property in accordance with the procedure determined in paragraph 2 of Article 67 of this Code.

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