On 24 June 2010, a new Law on Subsoil and Subsoil Use (the “Subsoil Law”) was adopted in Kazakhstan. According to the Subsoil Law, transfer of a subsoil use right (or a part thereof) or related objects into pledge shall be performed upon approval of the competent authority. Moreover, the Subsoil Law establishes regulations in the area of pledge of subsoil use rights. For instance, borrowed funds obtained against the pledge of subsoil use rights shall only be used for the purpose of subsoil use within the respective subsoil use contract.
Obtaining a permit to transfer subsoil use rights into pledge is a long-term process that includes collection of information and documents. According to the current subsoil use legislation, the period for consideration of the application is seventy business days. However, according to our practice, this process can take up to six months.
- advising on transfer of subsoil use right or/and related objects (interests, block of shares in legal entity holding the subsoil use right) into pledge;
- advising in connection with drafting application for obtaining permit to transfer subsoil use right or/and related objects into pledge (surcharge) and representation of interests of a client at the stage of consideration of the application by the competent authority;
- advising in connection with drafting pledge agreement for subsoil use right and related objects;
- registration of pledge agreement with the competent authority;
- advising on levying of execution on the pledged subsoil use right and related objects including procedure for pledge selling.
|Tlek Baigabulov||Senior Partner, Advocate||Almaty||Inquire|
|Yerzhan Yessimkhanov||Partner, Head of Telecommunication & Transport, Construction & Infrastructure Department||Almaty||Inquire|
|Yerbolat Yerkebulanov||Partner, Head of Subsoil Use Department (Almaty)||Almaty||Inquire|
|Maksim Burak||Partner, Head of Subsoil Use Department (Astana)||Astana||Inquire|
|Bakhodir Jabborov||Managing Partner||Tashkent||Inquire|
|Akhmetzhan Abdullayev||Senior Partner, Advocate||Almaty||Inquire|
|Assel Ilyasova||Partner, Head of Tax Law Department||Almaty||Inquire|
|Samat Daumov||Branch Director||Ust-Kamenogorsk, Kyzylorda, Shymkent, Taraz, Kostanay, Astana, Kokshetau, Petropavlovsk, Pavlodar, Karaganda, Uralsk, Taldykorgan||Inquire|
|Nurbol Kissembayev||Partner, Branch Director||Aktau||Inquire|
|Kanat Seidaliev||Partner, Office Director||Bishkek, Dushanbe||Inquire|
|Almat Daumоv||Partner, Head of Natural Resources Department, Representative GRATA International (Moscow)||Moscow, Almaty||Inquire|
|Aidar Sarymsakov||Senior Partner, Advocate||Almaty||Inquire|
|Elvira Maratova||Counsel, GRATA Kyrgyzstan||Bishkek, Dushanbe||Inquire|
|Aisanat Safarbek kyzy||Lawyer||Bishkek||Inquire|
|Paweł Martynek||Partner, Head of Subsoil Use||Warsaw||Inquire|