Corporate governance

The Limited Liability Company "Returned Assets Management Company" was established in accordance with the Civil Code of the Republic of Kazakhstan, the Laws of the Republic of Kazakhstan "On Limited Liability and Additional Liability Partnerships" (hereinafter referred to as the Law), "On State Property", "On the Return of Illegally Acquired Assets to the State" (hereinafter referred to as the Law on Return), regulatory legal acts of the Republic of Kazakhstan, the Charter of the Partnership and other laws.

The State Property and Privatization Committee of the Ministry of Finance of the Republic of Kazakhstan, on behalf of the Government of the Republic of Kazakhstan, is the founder of the Partnership. The Committee is vested with the powers to exercise the rights of the owner in relation to the republican property and performs the functions of managing the state participation shares of the Partnership.

By Resolution No. 2023 of the Government of the Republic of Kazakhstan dated September 21, 824, the "Returned Assets Management Company" LLP was established, in the authorized capital of which the state has a 100% stake.

TYPES OF SERVICES:

Management, preservation, and sale of returned assets in accordance with the procedure established by the Law on Return and other laws of the Republic of Kazakhstan.

OBLIGATIONS OF THE PARTNERSHIP:

1. taking ownership of returned assets on behalf of the state;
2. ensuring the preservation and retention of assets converted into state revenue;
3. ownership of assets;
4. ensuring the transfer of proceeds from the sale of assets to a special state fund.

GOVERNING BODIES:

• the highest authority is the Sole Participant;
• Supervisory Board of the Partnership;
• advisory and consultative body – Board of Trustees;
• control body – inspection commission;
• The executive body is the General Director of the Partnership.

The competence of the Partnership's bodies, as well as the procedure for their decision-making or speaking on behalf of the Partnership, are determined by the Law, other legislative acts and the Charter.