Tokayev signed the law on the return of illegally acquired assets

The refund mechanisms will be applied to the subjects of major corruption and oligopoly groups that have grown together with persons with administrative and power resources.President Kassym-Jomart Tokayev signed the Law of the Republic of Kazakhstan "On Amendments and Additions to some Legislative Acts on the return of illegally acquired assets to the state," Akorda reports. In accordance with the provisions of the law, the refund mechanisms will be applied to subjects of major corruption and oligopoly groups that have grown together with persons with administrative and power resources (connections, influence)," the information says. The Law applies to entities that are (were) persons holding a responsible public position, positions in state legal entities, quasi-public sector entities, as well as entities affiliated with these persons. In addition to the specified criteria for the application of the provisions of the law, persons must have assets in total in excess of the threshold established by law - 13 million MCI (44 billion 850 million tenge, or about 100 million US dollars). The work on asset recovery will be carried out by the authorized body for asset recovery, which, based on information from government agencies and other sources not prohibited by law, will monitor and analyze the information. During the monitoring and analysis, the circle of persons involved in the scheme of illegal withdrawal of assets, the circle of persons affiliated with them, the total amount of assets, signs and circumstances of illegal acquisition of assets, their withdrawal from the country and other information will be determined. Based on the results of the analysis, if the authorized body has reasonable doubts about the legality of the acquired assets, it will submit proposals to the commission for the return of assets formed by the Prime Minister from members of Parliament, public figures, members of the government, first heads of state agencies and other persons on the inclusion of such entities and their affiliated persons in the appropriate register," - specified in the information. The law clearly defines the criteria in the presence of which the authorized body will have grounds for doubt. This is a discrepancy between the value of assets and the amount of legitimate income or other sources of covering the costs of acquiring assets, the acquisition by a person or his affiliated persons of assets above the established threshold and other grounds established by law. The Commission makes a decision on the inclusion of persons in the register, and also, taking into account social, political and economic stability, decides on further measures for the return of assets, and also develops recommendations on the assets of city-forming enterprises. If the commission includes persons in the register, the authorized body notifies them of this, and from that moment on, persons can submit a declaration of assets confirming the legality of the acquisition of assets within a month or within 3 months, if necessary, a longer period for the collection and preparation of documents. In the declaration, entities must indicate income, assets, shares in the authorized capital of a legal entity, loans in Kazakhstan and abroad, and other information about the origin of assets," the document emphasizes.   If a person is unable to confirm the legality of the acquisition of assets, then such assets are recognized as assets of unexplained origin. If there is a risk of withdrawal of an asset from the country or its alienation, the authorized body will apply to the court with an application for preliminary interim measures. The return of illegally acquired assets can be carried out voluntarily or forcibly - on the basis of judicial acts of the republic, foreign states or decisions of competent authorities of foreign states. The conditions may provide for the payment of money, the transfer of part or all of the assets to the state, compensation to the state of the amounts of lost taxes, damage caused, the amounts of excess income received by a person for the total period of ownership of assets, but not less than the damage caused to the state, and other conditions. The compulsory return of assets is carried out by applying the authorized body to the court on general grounds according to the rules of civil procedural legislation," the text of the document clarifies. The law also provides mechanisms for the protection of bona fide purchasers. The assets received in favor of the state will be transferred to a special state fund, which is a cash control account in the Ministry of Finance. The funds from the fund will be used to finance social and economic projects. Given that assets may be located abroad, the law provides for mechanisms of international legal cooperation to ensure the enforcement of court decisions, information exchange and other legal interaction. The authorized body will annually prepare information on countering the illegal acquisition and withdrawal of assets, systemic measures taken, including those aimed at eliminating the causes and conditions conducive to the illegal acquisition and withdrawal of assets. The law is put into effect after 10 days after publication, with the exception of provisions concerning the rights and obligations of citizens, which, in accordance with the general requirements for the enactment of such laws, are put into effect after 60 days after publication. Earlier, the Anti-Corruption Agency reported that $14 million was returned to the income of the Republic of Kazakhstan from the United Arab Emirates in the case of Kairat Satybaldyuly.   Earlier, during the investigation of the case against Kairat Satybaldy and other persons on the facts of embezzlement of funds of Kazakhtelecom JSC and Transport Service Center JSC, illegally acquired assets and funds of the defendants totaling over 240 billion tenge, or more than 500 million dollars, were returned to the state. In July last year, the Prosecutor General's Office announced the amounts returned to the state as part of the investigation of cases against Kairat Boranbayev, Kairat Satybaldyuly, Gulmira Satybalda, the heads of ROP LLP. Later, the department told whether the property of the family members of the ex-president of Kazakhstan will be searched abroad.