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Article 134. The Restoration of Securities

The restoration of the rights associated with the lost bearers' securities and order securities, shall be carried out by the court in accordance with the procedure stipulated in the procedural legislation.

Article 135. Non-Documentary Securities

[as amended by (7) Law of the Republic of Kazakhstan. Concerning the Introduction of An Addition and Amendments to the Civil Code of the Republic of Kazakhstan (General Part). March 5, 1997].

1. In the cases which are determined by legislative acts or in accordance with the procedure stipulated therein, organisations which obtained special-purpose licences may carry out the registration of rights affixed in registered-name or order securities, including in a non-documentary form (with the use of electronic and computer equipment etc.). The rules established by this Code and other legislative acts concerning securities, shall apply to such a form of fixation of rights, unless otherwise ensues from the specific features of the fixation.

The fixation which is carried out upon the petition of the issuer or a person who is registered as the holder of the relevant rights, shall be equated to the security, and it shall be sufficient for the exercise and transfer of the right associated with the security. Upon the request of the holder of the rights, the depository shall be obliged the organisation which obtained the special-purpose licence shall be obliged to issue to him a document which certifies the affixed rights.

2. The rights which are certified by way of fixation with the depository, the procedure for the activities of securities depositories and for issuing to them of licences to carry out transactions involving securities, the procedure for the official fixation of rights and title holders by depositories, the procedure for the documentary confirmation of depositories' notes, and the procedure for the commission of transactions in non-documentary securities, shall be determined by legislative acts or in accordance with the procedure established thereby.

3. The exercise, transfer, assignment, and restriction of the rights must be documented in accordance with the legislation of the Republic of Kazakhstan. The professional participants of the securities market which received the special-purpose licence for registration of the rights fixed by registered or bearers securities, including those in the non-documentary form shall be liable for the safety of official entries, ensuring their confidentiality, disclosure of accurate information on such entries, and for the making official entries concerning the transactions performed.

Article 136. A Debenture

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; and

replaced by (15) Law No. 282 of 10th July 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 Joint-Stock Companies.

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