Transfer of Subsoil Use Right and Related Objects

Transfer of Subsoil Use Right and Related Objects

On 24 June 2010, a new Law on Subsoil and Subsoil Use (the “Subsoil Law”) was adopted in Kazakhstan. The Subsoil Law describes in detail the procedure for issuance of approvals to transfer the subsoil use right and related objects. According to this Law, objects related to the subsoil use right shall mean participatory interests (shares) in a legal entity holding the subsoil use right, as well as a legal entity, which may directly and/or indirectly define and/or affect decisions of a subsoil user, if the principal activity of such a subsoil user is related to the subsoil use in the Republic of Kazakhstan.

Experience:

• advising a subsoil user in connection with transfer of the subsoil use right and related objects into the charter capital of a legal entity;
• advising a Kazakhstani subsoil user in connection with drafting agreement of sale and purchase of participatory interest;
• advising a Kazakhstani subsoil user in connection with sale of participatory interest, including procedure for obtaining the state waiver of its pre-emptive right and approval of the competent authority to transfer the subsoil use right;
• advising a subsoil user in connection with preparation and support of the application for obtaining the state waiver of its pre-right emptive and approval to transfer the subsoil use right and related objects;
• advising a subsoil user in connection with amending the subsoil use contract in connection with transfer of the subsoil use right.

Publications:

• The changes in the investment climate due to the adoption of the new law on subsoil and subsoil use