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Article 101. Reorganisation and Liquidation of a Productive

Co-Operative

1. A productive co-operative may be voluntarily reorganised or liquidated upon the resolution of the General meeting of its members.

Any other bases and the procedure for reorganisation and liquidation of a productive co-operative shall be determined in this Code and other legislative acts.

2. A productive co-operative, upon the unanimous decision of its members, may be transformed into a business partnership.

VI. State enterprise Article 102. The Fundamental Provisions Concerning the State Enterprise

as amended by (12) Law of No. 211 of 2nd March 1998 of the Republic of Kazakhstan. Concerning the Introduction of Amendments and Additions to the Civil Code of the Republic of Kazakhstan (General Part), and to the Decree of the Supreme Soviet of the Republic of Kazakhstan "Concerning the Implementation of the Civil Code of the Republic of Kazakhstan (General Part)".

1. The following shall be referred to state-owned enterprises:

1) those based on the right to business authority;

2) those based on the right to operational management (public enterprise).

2. The assets of a state-owned enterprise shall be indivisible and it may not be distributed by contributions (shares, unit shares), including among the workers of the enterprise.

3. The commercial name of state-owned enterprises must contain the indication of the ownership of its assets.

4. A state-owned enterprise shall be created, liquidated, and reorganised pursuant to a decision of the authorised state body.

5. The manager of a state-owned enterprise who is appointed by the authorised state body, shall be its [governing] body accountable to it.

7. The status of a state enterprise and a public enterprise shall be determined by this Code and other legislative acts.

Article 103. An Enterprise Based on the Right to Business Authority

as amended (12) Law of No. 211 of 2nd March 1998 of the Republic of Kazakhstan. Concerning the Introduction of Amendments and Additions to the Civil Code of the Republic of Kazakhstan (General Part), and to the Decree of the Supreme Soviet of the Republic of Kazakhstan "Concerning the Implementation of the Civil Code of the Republic of Kazakhstan (General Part)".

1. The charter approved by the foundation party, shall be the foundation document of an enterprise based on the right to business authority.

2. An enterprise which is based on the right to business authority, shall be liable on its obligations with all the property belonging to it. An enterprise which is based on the right to business authority shall not be liable upon the obligations of the state.

The state shall not be liable for the obligations of an enterprise based on the right to business authority, except for the cases, stipulated by this Code and other legislative acts.

Article 104. A Public Enterprise

as amended by (17) Law No. 320 of 16th December 1998 of the Republic of Kazakhstan. Concerning the Introduction of Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan Concerning Issues of the State-Owned Legal Entities.

1. An enterprise which possesses the state-owned assets under the right to operational management shall be a public enterprise.

2. Public enterprises shall be created upon the decision of the Government of the Republic of Kazakhstan or a local executive body.

3. The charter approved by the foundation party shall be the foundation document of the of the public enterprise.

4. The commercial name of an enterprise based on the right to operational management, must contain an indication that the enterprise is public.

5. Business activities of a public enterprise shall be determined by its aims and objectives which are stipulated in its charter.

6. The Republic of Kazakhstan or the [relevant] administrative and territorial unit shall bear the subsidiary liability upon the obligations of public enterprises. With regard to contractual obligations the liability shall arise in accordance with the procedure as established by legislative acts concerning state owned enteprises.

VII. NON-COMMERCIAL ORGANISATION

Article 105. An Institution

replaced by (17) Law No. 320 of 16th December 1998 of the Republic of Kazakhstan. Concerning the Introduction of Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan Concerning Issues of the State-Owned Legal Entities.

replaced by (17) Law No. 320 of 16th December 1998 of the Republic of Kazakhstan. Concerning the Introduction of Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan Concerning Issues of the State-Owned Legal Entities.

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