Kazakhstan legislation Update. September, 2011

ELECTRONIC MONEY

Law of the Republic of Kazakhstan No. 466-IV On Amendments to Certain Legislative Acts of the Republic of Kazakhstan On Electronic Money was signed on 21 July 2011 and came into force on 6 September 2011 (except for amendments to the Tax Code which come into force from 1 January 2012).

The Law On Payments and Transfers of Money was amended with provisions regulating the issuance, transfer and acquisition, use, and clearance and settlement of electronic money.

Amendments were also made to the Code On Administrative Violations, the Code of the Republic of Kazakhstan On Taxes and Other Obligatory Payments to Budget (Tax Code), the Law On National Bank of the Republic of Kazakhstan, and the Law On Banks and Banking in the Republic of Kazakhstan.

TRADE AND CUSTOMS

Resolution of the Government of the Republic of Kazakhstan No. 1036 of 15 October 2005 On Export Customs Duties On Crude Oil and Goods Produced of Oil was amended by Resolution of the Government of the Republic of Kazakhstan No. 1012 of 5 September 2011.

Export customs duties on certain goods produced of oil have been increased.

Resolution of the Government of the Republic of Kazakhstan No. 371 of 21 April 2005 On Endorsement of the Rules of Domestic Trade was amended by Resolution of the Government of the Republic of Kazakhstan No. 738 of 30 June 2011.

The requirements set out in the Rules of Domestic Trade with respect to the activities of restaurants, cafes, pubs, and canteens were changed and amended. One of the requirements is to ensure life and health safety of consumers, as well as safety of their belongings.